Wall Street To Climb At Opening

Wall Street To Climb At Opening

Earlier signs from the U.S. Futures index point to a higher opening for Wall Street on Monday. The economic calendar is lean, however Fed’s Consumer Credit report and a slew of Fed speeches will be keenly followed by the investors.
Asian shares finished mostly higher, while European shares are trading broadly higher.

As of 7.15 am ET, the Dow futures were adding 90.00 points, the S&P 500 futures were climbing 11.00 points and the Nasdaq 100 futures were improving 43.25 points.

U.S. stocks closed higher on Friday. The Dow surged up 332.36 points or 1.4 percent to 24,262.51, the Nasdaq soared 121.47 points or 1.7 percent to 7,209.63 and the S&P 500 jumped 33.69 points or 1.3 percent to 2,663.42.
On the economic front, TD Ameritrade’s Investor Movement Index for April will be issued at 12.30 pm ET. In the prior month the IMX was at 5.22.

Richmond Federal Reserve Bank President Tom Barkin will speak at George Mason University in Fairfax, Virginia, with audience Q&A at 2.00 pm ET.

The Fed’s Consumer Credit report for March will be published at 3.00 pm ET. The market analysts consensus is for $16.0 billion, up from $10.6 billion in the prior month.

Dallas Federal Reserve Bank President Robert Kaplan will discuss “Learning About an ML-Driven Economy” at the 23rd Annual Financial Markets Conference in Amelia Island, Florida at 3.30 pm ET.

Chicago Federal Reserve Bank President Charles Evans to speak at the Federal Reserve Bank of Atlanta conference titled “Machines Learning Finance. Will they Change the Game?” on Amelia Island, Florida, with audience and media Q&A at 3.30 pm ET.

In the corporate sector, Tyson Foods Inc. (TSN) reported second quarter profit of $315 million, or $0.85 per share, down from $340 million, or $0.92 per share last year. Analysts had expected the company to earn $1.32 per share. Revenue for the quarter rose 7.6% to $9.77 billion from $9.08 billion last year.

Asian stocks ended broadly higher on Monday. China’s Shanghai Composite index jumped as much as 1.48 percent to close at 3,136.64. Hong Kong’s Hang Seng index climbed 67.76 points or 0.23 percent to close at 29,994.26.

Japanese shares ended on a flat note. The Nikkei average fluctuated before closing marginally lower at 22,467.16 as traders returned to their desks after the Golden Week holidays.

The broader Topix index closed a tad higher at 1,773.18.

Australian shares eked out modest gains. The benchmark S&P/ASX 200 index rose 21.60 points or 0.36 percent to finish at 6,084.50 while the broader All Ordinaries index ended up 20.20 points or 0.33 percent at 6,175.60.

European shares are progressing. France’s CAC 40 is climbing 3.04 points or 0.06 percent. Germany’s DAX is up 63.57 points or 0.51 percent. FTSE 100 of U.K. is closed for the day. Swiss Market Index is up 39.09 points or 0.44 percent.

Eurozone’s leading Blue Chip index,Euro Stoxx 50, is progressing 0.04 percent.

by RTTNews Staff Writer

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