Wall Street To Open Moderately Higher

(RTTNews) - Home Prices, Consumer Confidence as well as New Home Sales might get special attention of investors on Tuesday.

The earning results from major companies also might influence the market movements on the day.

Asian shares finished broadly higher, while European shares are trading positive. Initial trend on the U.S. Futures Index suggest that Wall Street might open mostly higher. As of 7.50 am ET, the Dow futures were adding 205.00 points, the S&P 500 futures were up 15.00 points and the Nasdaq 100 futures were sliding 9.25 points.

The U.S. major indices reached new highs on Monday. The Dow surged up 378.13 points or 1.4 percent to 28,308.46, the Nasdaq advanced 67.92 points or 0.6 percent to 11,379.72 and the S&P 500 jumped 34.12 points or 1 percent to 3,431.28.

On the economic front, the Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store sales were down 2.8 percent.

Case-Shiller House Price Index for June will be released at 9.00 am ET. The consensus is 20-city adjusted price was for an increase of 0.1 percent, from no change in the prior month. The Federal Housing Finance Agency or FHFA House Price Index or HPI for June will be published at 9.00 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.3 percent in the previous month.

The Conference Board's Consumer Confidence for August will be released at 10.00 am ET. The consensus is for 93.0, slightly up from 92.6 in the prior month.

The Commerce, Housing and Urban Development department's New Home Sales for July will be issued at 10.00 am ET. The consensus is for 774K, compared with 776K in the prior month. The Federal Reserve Bank of Richmond's Manufacturing Index for August is scheduled at 10.00 am ET. The consensus is for 10.

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

San Francisco Federal Reserve Bank President Mary Daly will moderate panel on "Under the Magnifying Glass: Inequity and COVID-19" at the Rotary Club of Oakland at 3.25 pm ET.

Asian stocks rose broadly on Tuesday. Chinese shares closed lower, bucking the regional trend. The benchmark Shanghai Composite index dropped 12.06 points, or 0.36 percent, to 3,373.58, while Hong Kong's Hang Seng index edged down 0.26 percent to 25,486.22.

Japanese shares hit a fresh six-month high. The Nikkei average climbed 311.26 points, or 1.35 percent, to 23,296.77, its highest close since Feb. 21. The broader Topix index closed 1.13 percent higher at 1,625.23.

Australian markets extended gains from the previous session. The benchmark S&P/ASX 200 index ended up 31.80 points, or 0.52 percent, at 6,161.40, while the broader All Ordinaries index rose 31.70 points, or half a percent, to 6,332.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 41.45 points or 0.83 percent. The German DAX is adding 91.17 points or 0.70 percent, the U.K. FTSE 100 Index is gaining 8.94 points or 0.15 percent.

The Swiss Market Index is progressing 5.06 points or 0.06 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.79 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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