Wall Street Targets To Open Higher

Early cues from the U.S. Futures Index suggest that Wall Street might open higher on Monday.

Consumer price inflation, the U.S. Trade Deficit reports, and Consumer Confidence might be the important announcements this week.

Asian shares finished mostly up, while European shares are broadly up.

As of 7.40 am ET, the Dow futures were up 262.00 points, the S&P 500 futures were adding 42.50 points and the Nasdaq 100 futures were progressing 174.25 points.

The U.S. major averages finished lower on Friday. The Nasdaq plunged 304.16 points or 2.5 percent to 12,012.73, the S&P 500 tumbled 68.28 points or 1.6 percent to 4,108.54 and the Dow slumped 348.58 points or 1.1 percent to 32,899.70.

On the economic front, the Investor Movement Index for May will be issued at 12.30 pm ET. In the prior month, the index was at 6.33.

Six-month Treasury Bill Auction will be held at 11.30 am ET.

Asian stocks ended Monday’s session mostly up. China’s Shanghai Composite index rallied 1.28 percent to 3,236.37. Hong Kong’s Hang Seng index climbed 2.71 percent to 21,653.90.

Japan’s Nikkei average gained 0.56 percent to 27,915.89.

The benchmark S&P/ASX 200 index dropped 0.45 percent to 7,206.30 while the broader All Ordinaries index ended 0.53 percent lower at 7,433.10.

European shares are trading mostly higher. CAC 40 of France is gaining 72.43 points or 1.12 percent. DAX of Germany is adding 146.77 points or 1.02 percent. FTSE 100 of England is progressing 88.10 points or 1.17 percent. Swiss Market Index is declining 16.11 points or 0.14 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.29 percent.

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