U.S. Futures suggest that Wall Street is looking ahead to bounce back from lower close on Friday. Investors are waiting for the Fed meeting on Wednesday expecting clues for interest rate.
Asian shares finished higher, while European shares are moving on a positive path.
The trade dispute between the U.S. and China might have a continued impact on markets. Though Monday is a lean day for market announcements, reports on producer and consumer prices, import and export prices, and consumer sentiment might have a special focus in the coming week.
As of 6.30 am ET, the Dow futures were adding 181.00 points, the S&P 500 futures were up 19.10 points and the Nasdaq 100 futures were gaining 61.00 points.
U.S. stocks closed in the red on Friday. The Dow plummeted 572.46 points or 2.3 percent to 23,932.76, the Nasdaq dove 161.44 to 6,915.11 and the S&P 500 plunged 58.37 points or 2.2 percent to 2,604.47.
On the economic front, TD Ameritrade’s Investor Movement Index for March will be published at 12.30 pm ET. The prior month’s index level was 5.95.
Six-month Treasury Bill Auction will be held at 11.30 am ET. 11.30 am ET.
In the corporate segment, Henkel AG and Co. announced that it continues to expect to generate organic sales growth of 2 to 4 percent for fiscal 2018.
The company expects an increase to more than 17.5 percent in adjusted return on sales. Adjusted earnings per preferred share are expected to rise by 5 to 8 percent.
Novartis AG announced an agreement to acquire the U.S. based clinical stage gene therapy company AveXis, Inc. for $218 per share or a total of $8.7 billion in cash. Both the boards approved the transaction, which is expected to close in mid 2018.
Deutsche Bank said it has appointed Christian Sewing to succeed John Cryan as chief executive officer, with immediate effect. Cryan is planning to leave the bank at the end of this month. Additionally, the Supervisory Board has appointed Management Board members Garth Ritchie and Karl von Rohr as new Presidents.
Asian stocks closed broadly higher on Monday. China’s Shanghai Composite index inched up 0.23 percent to end at 3,138.29. Hong Kong’s Hang Seng index climbed 384.64 points or 1.29 percent at 30,229.58.
Japanese shares reversed initial losses to end higher. The Nikkei average rose 110.74 points or 0.51 percent to 21,678.26, led by defensive shares, while the broader Topix index closed 0.38 percent higher at 1,725.88.
Australian shares reversed early losses to end modestly higher. The benchmark S&P/ASX 200 index rose 20 points or 0.35 percent to 5,808.70 while the broader All Ordinaries index ended up 17.80 points or 0.30 percent at 5,904.70.
European shares are trading in the green. The CAC 40 Index of France is adding 16.48 points or 0.31 percent. The German DAX is gaining 95.26 points or 0.78 percent, the U.K. FTSE 100 Index is up 7.77 points or 0.11 percent. The Swiss Market Index is progressing 56.19 points or 0.64 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.49 percent.
by RTTNews Staff Writer
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