Futures Point To Higher Open For Wall Street

(RTTNews) - On a lean Monday, IMX Index and Fed's Consumer Credit for July are the major highlights. Investors are looking ahead to Consumer Price Inflation, retail sales and Consumer Sentiments in the week.

Asian shares finished broadly higher, while European shares are trading mostly lower.

Initial signs from the U.S. Futures Index suggest that Wall Street might be opening higher.

As of 7.50 am ET, the Dow futures were adding 51.00 points, the S&P 500 futures were up 8.50 points and the Nasdaq 100 futures were progressing 12.50 points.

U.S. stocks closed broadly higher on Friday. The Nasdaq dipped 13.75 points or 0.2 percent to 8,103.07, the Dow and the S&P 500 reached their best closing levels in over a month. The Dow rose 69.31 points or 0.3 percent to 26,797.46 and the S&P 500 inched up 2.71 points or 0.1 percent to 2,978.71.

On the economic front, TD Ameritrade's Investor Movement Index or IMX for August will be published at 12.30 pm ET. In the prior month, the level was 4.60.

Fed's Consumer Credit for July will be published at 3.00 pm ET. The consensus is for $16.0 billion, while it was at $14.6 billion in the prior month.

Asian stocks ended mostly higher on Monday. Chinese stocks advanced. The benchmark Shanghai Composite index gained 25.14 points, or 0.84 percent, to close at 3,024.74 while Hong Kong's Hang Seng ended marginally lower at 26,681.40. Japanese shares hit 5-1/2-week high. The Nikkei average rose 118.85 points, or 0.56 percent, to 21,318.42, its highest closing level since Aug.2, while the broader Topix index closed 0.91 percent higher at 1,551.11. Australian markets fluctuated before ending on a flat note. Both the benchmark S&P/ASX 200 index and the broader all Ordinaries index closed marginally higher at 6,648 and 6,760.10, respectively.

European shares are broadly losing. France's CAC 40 is declining 4.01 points or 0.07 percent. Germany's DAX is up 37.99 points or 0.31 percent. FTSE 100 of U.K. is decreasing 41.03 points or 0.56 percent. Swiss Market Index is gaining 26.95 points or 0.27 percent.

Eurozone's leading Blue Chip index,Euro Stoxx 50, is up 0.07 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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