Early Cues Suggest Positive Open For Wall Street
(RTTNews) - Early trends from U.S. Futures Index point to a significantly higher opening for Wall Street. Retail Sales report, PMI Index and Business Inventories report are the major economic announcements on Monday.
Asian shares finished positive, while European shares are trading higher.
Investors are closely following the geopolitical development, especially the positive signs from China.
As of 8.05 am ET, the Dow futures were gaining 211.00 points, the S&P 500 futures were adding 21.25 points and the Nasdaq 100 futures were up 74.50 points.
The U.S. stocks ended Friday just off their best levels of the day. The Dow advanced 211.22 points or 0.8 percent to 25,928.68, the Nasdaq climbed 60.16 points or 0.8 percent to 7,729.32 and the S&P 500 rose 18.96 points or 0.7 percent at 2,834.40.
On the economic front, the Commerce Department's Retail Sales for February will be published at 8.30 am ET. The consensus is for an increase of 0.3 percent, up from 0.2 percent in the prior month.
Markit Economics' Purchasing Managers' Manufacturing Index for March is expected at 9.45 am ET. The consensus is for 52.5, slightly down from 53.0 in the previous month.
The Commerce Department's Business Inventories will be published at 10.00 am ET. The consensus is for an increase of 0.5 percent, slightly down from 0.6 percent in the previous month.
Institute for Supply Management's Manufacturing Index for March will be issued at 10.00 am ET. The consensus is for 54.2, unchanged from the prior month.
Asian stocks rose broadly on Monday. China's Shanghai Composite Index soared 79.60 points or 2.6 percent to 3,170.36, its highest closing level since May 2018. Hong Kong's Hang Seng Index jumped 510.66 points or 1.8 percent to 29,562.02.
Japanese shares ended off their day's highs. The Nikkei 225 Index still ended the day up 303.22 points or 1.4 percent at 21,509.03, while the broader Topix closed 1.5 percent higher at 1,615.81.
Australian markets ended notably higher. The benchmark S&P/ASX 200 Index climbed 36.30 points or 0.6 percent to 6,217.00, while the broader All Ordinaries Index ended up 38.00 points or 0.6 percent at 6,299.70.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 37.53 points or 0.70 percent, the German DAX is gaining 122.19 points or 1.05 percent, the U.K. FTSE 100 Index is progressing 50.29 points or 0.69 percent. The Swiss Market Index is adding 30.45 points or 0.33 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.66 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.