Wall Street Targets To Open Higher

Reports on durable goods orders, pending home sales, consumer confidence, personal income, and spending and manufacturing activity might be the highlights this week.
Early signs from the U.S. Futures Index suggest that Wall Street might open higher.

Asian shares were up at the close on the day, while European shares are trading higher.

As of 7.35 am ET, the Dow futures were up 118.00 points, the S&P 500 futures were adding 19.50 points and the Nasdaq 100 futures were progressing 76.25 points.

The U.S. major averages finished higher on Friday. The Dow jumped 823.32 points or 2.7 percent to 31,500.68, the Nasdaq surged 375.43 points or 3.3 percent to 11,607.62 and the S&P 500 shot up 116.01 points or 3.1 percent to 3,911.74.

On the economic front, the Commerce Department’s Durable Goods Orders for May will be released at 8.30 am ET. The consensus was up 0.1 percent, while it was up 0.4 percent in April.

National Association of Realtors’ Pending Home Sales Index for May will be published at 10.00 am ET. The consensus is for a decline of 2.5 percent, while it was down 3.9 percent in the prior month.

The Dallas Fed Manufacturing Survey for June is scheduled at 10.30 am ET. In the prior month, the General Activity Index was down 7.3. Production Index was up 18.8.
Five-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks posted strong gains on Monday.

China’s Shanghai Composite index rose 0.88 percent to 3,379.19. Hong Kong’s Hang Seng index jumped 2.35 percent to 22,229.52.

Japanese shares climbed for a third straight session. The Nikkei average rallied 1.43 percent to 26,871.27 while the broader Topix index closed 1.11 percent higher at 1,887.42.

Australian markets soared on the day. The benchmark S&P/ASX 200 inched up 1.94 percent to 6,706. The broader All Ordinaries index ended 1.94 percent higher at 6,893.60.

European shares are trading higher. CAC 40 of France is adding 9.25 points or 0.15 percent. DAX of Germany is progressing 111.70 points or 0.85 percent. FTSE 100 of England is adding 55.87 points or 0.77 percent. Swiss Market Index is up 52.11 points or 0.48 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.79 percent.

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