Futures Suggest Positive Open For Wall Street

(RTTNews) - Housing Starts data for October will be the major focus on Tuesday. Earnings reports are also getting the attention of investors.

Asian shares finished higher, while European shares are trading up.

Initial cues from the U.S. Futures Index suggest that Wall Street might open positive.

As of 7.15 am ET, the Dow futures were up 36.00 points, the S&P 500 futures were climbing 7.50 points and the Nasdaq 100 futures were progressing 34.50 points.

The U.S. major averages close higher on Monday. The Dow edged up 31.33 points or 0.1 percent to 28,036.22, the Nasdaq inched up 9.11 points or 0.1 percent to 8,549.94 and the S&P 500 ticked up 1.57 points or 0.1 percent to 3,122.03.

On the economic front, the Commerce and Housing & Urban Development department's Housing Starts data for October will be published at 8.30 am ET. The consensus is for 1.320 million, up from 1.256 million in the prior month. The permits level is expected to be 1.378 million, slightly down from 1.387 million in September.

Redbook data, a weekly measure of comparable store sales at chain stores and department stores will be released at 8.55 am ET. In the prior week, the Store sales were up 5.0 percent.

New York Federal Reserve Bank President John Williams will speak in a moderated "One-on-One with New York Fed President and CEO John Williams" session at the Securities Industry and Financial Markets Association Annual Meeting in Washington, DC, with audience and media Q&A at 9.00 am ET.

E-Commerce Retail Sales for the third quarter will be published at 10.00 am ET. In the prior week, the E-sales were up 4.2 percent.

In the corporate sector, Home Depot cut 2019 sales forecast and now expects around 1.8 percent and comparable sales increase of 3.5 percent for the 52 week period. Kohl's slashed it earnings guidance for the full year to a range of $4.75 to $4.95, from $5.15 to $5.45 per share. The company reported 0.4 percent increase in comps for the third quarter.

EasyJet is looking for a slower growth for 2020 financial year. Total revenue per seat for the fiscal 2019 declined 1.8 percent to 60.81 pounds on weakness in consumer confidence.

Asian stocks closed mostly higher on Tuesday. Chinese shares closed higher. The benchmark Shanghai Composite Index rose 24.79 points or 0.9 percent to finish at 2,933.99. The Hang Seng Index gained 412.71 points or 1.6 percent to settle at 27,093.80.

The Japanese market declined for the day. The benchmark Nikkei 225 Index fell 124.11 points or 0.5 percent to close at 23,292.65, while the broader Topix index dipped 3.99 points or 0.2 percent to finish at 1,696.73.

The Australian market recovered after a weak start to close higher. The benchmark S&P/ASX 200 Index added 47.40 points or 0.7 percent to close at 6,814.20, while the broader All Ordinaries Index advanced 42.40 points or 0.6 percent to settle at 6,914.10.

European shares are progressing higher. France's CAC 40 is climbing 19.72 points or 0.33 percent. Germany's DAX is up 129.87 points or 0.98 percent. FTSE 100 of U.K. is adding 89.08 points or 1.22 percent. Swiss Market Index is up 66.92 points or 0.65 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is progressing 0.49 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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