Wall Street Mildly Bullish Pre-Bell; Europe Southerly; Futures Green; Asia Closed Up

Studying market data including diagrams

Wall Street is mildly bullish pre-bell Tuesday, with European bourses trading down slightly, U.S. stock index futures showing small green arrows, and Asian stock markets broadly closed higher. Oil is steady.

On the economic calendar at 8:30 am ET is data on personal income and outlays in April. Also at 8:30 a.m. are the PCE and PCE-Core price indexes, which are the price indexes actually tracked for policy-making purposes by the U.S. Federal Reserve Board, as opposed to the better-known CPI.

At 9:00 a.m. is the Case-Shiller 20-city house price index, followed by the Chicago PMI at 9:45 a.m., and then the Conference Board consumer confidence index at 10:00 a.m.

Medtronic ( MDT ) and Bank of Nova Scotia ( BNS ) are reporting earnings pre-bell.

In Europe, the British FTSE is off 0.23%; the French CAC 40 is off 0.22%; the German Dax is off 0.21% and the Euronext 100 is down 0.15%.

In the futures, the S&P 500 is up 0.06%; the Nasdaq is up 0.17%; and the Dow is up 0.13%.

Most Asian stock markets gained on Tuesday, with Tokyo rising on a softer yen and prospects for tax relief, and Shanghai rising sharply on prospects that mainland shares will be included in a global index. The Shanghai composite jumped more than 3% on hopes benchmark provider MSCI will include yuan-denominated shares in its Emerging Markets Index in June. Inclusion of China's "A-shares" would attract more foreign investment as index-tracking fund managers adjust portfolios.

The Nikkei 225 gained for the fifth-straight market day, as traders embraced a weaker yen, and the growing probability that Japan Prime Minister Shinzo Abe will delay a pending consumption tax hike. Regional stock-market rallies added to the mood, said analysts. In other news, Japan's industrial output rose 0.3% in April from March, reported officials.

After opening lower, the broad measure Nikkei 225 rose steadily through morning and afternoon sessions, finishing up166.96 to 17,234.98, as gaining issues outnumbered losers 188 to 31.

The Hong Kong Hang Seng Index rose 0.90%, as traders viewed steady global oil prices and eyed a gain of more than 3% on the Shanghai Composite, on the mainland.

The broad measure Hang Seng rose 185.70 to 20,815.09, as gaining issues outnumbered losers 41 to eight.

On the mainland, the Shanghai Composite rose 3.34% to 2916.62.

On other exchanges, the Singapore Straits Times index fell 0.20%; the Australian S&P ASX 200 fell 0.54% from nine-month highs; the S. Korean Kospi gained 0.83%; while the Thai Set and Taiwan TWSE traded flat.

In Mumbai, the Sensex was off 0.22% in late trading.

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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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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