Wall Street To Open Positive

Early cues from the U.S. Futures Index suggest that Wall Street might open positive. Asian shares are broadly up at closing, while European shares are trading higher.

As of 7.55 am ET, the Dow futures were up 52.00 points, the S&P 500 futures were adding 9.25 points and the Nasdaq 100 futures were progressing 41.50 points.

On Monday, the Dow closed with a gain of 209.52 points or 0.62 percent at 33,944.40. The S&P 500 closed higher by 10.58 points or 0.24 percent at 4,409.53, while the Nasdaq climbed 24.77 points or 0.18 percent to settle at 13,685.48.

On the economic front, the 52-week Treasury Bill auction will be issued at 11.30 am ET.

The 3-year Treasury Note auction will be held at 1.00 pm ET.

In the corporate sector, Foxconn, Apple’s key iPhone assembler has pulled out of a $19.5 billion semiconductor joint venture deal with Indian conglomerate Vedanta. Foxconn reportedly said the decision to withdraw from the deal was by mutual agreement.

Asian stocks advanced on Tuesday. Chinese shares eked out modest gains as Beijing signaled more stimulus to aid its property sector.

The benchmark Shanghai Composite index rose 0.55 percent to 3,221.37. Hong Kong’s Hang Seng index ended 0.97 percent higher at 18,659.83.

Japanese shares fluctuated before ending on a flat note. The Nikkei average finished marginally higher at 32,203.57 while the broader Topix index dropped 0.31 percent to 2,236.40.

Australian markets posted strong gains. The benchmark S&P/ASX 200 jumped 1.50 percent to 7,108.90 while the broader All Ordinaries index ended 1.51 percent higher at 7,315.80.

European shares are trading mostly higher. CAC 40 of France is adding 74.05 points or 1.04 percent. DAX of Germany is progressing 80.07 points or 0.51 percent. FTSE 100 of England is declining 16.30 points or 0.22 percent. The Swiss Market Index is up 17.22 points or 0.16 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is gaining 0.70 percent.

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