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Wall Street Poised To Open Strong

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Despite the concerns on Hurricane Irma that batters Florida coasts, the market is showing a new-found vigor. The fears on North Korea is subsiding. The economic calendar is comparatively weak, and it would pick up later on Thursday only. The gold is climbing, and the Oil price is picking up. Asian shares closed mostly higher, while European shares are trading powerfully higher.

As of 6.45 am ET, the Dow futures were adding 121 points, the S&P 500 futures were progressing 13 points and the Nasdaq 100 futures were climbing 45.25 points.

U.S. stocks closed mostly lower on Friday. The Dow inched up 13.01 points or 0.1 percent to 21,797.79, the Nasdaq fell 37.68 points or 0.6 percent to 6,360.19 and the S&P 500 dipped 3.67 points or 0.2 percent to 2,461.43.

On the economic front, 3-year Note auction will be held at 1.00 pm ET.

In the corporate sector, Equinix Inc. (EQIX) announced it has entered into an agreement with the Carlyle Group for the purchase of Itconic, a data center, connectivity and cloud infrastructure solutions provider in Spain and Portugal, and CloudMas, an Itconic subsidiary. The all-cash transaction comes to approximately $259 million.

Roche Group (RHHBY) announced Monday that the phase III BRIM8 study of Zelboraf for adjuvant treatment of BRAF V600 mutation-positive melanoma did not meet its primary endpoint. The study was designed to investigate the efficacy and safety of Zelboraf in the adjuvant treatment of people with completely resected, BRAF V600 mutation-positive melanoma.

Asian stocks is showing enthusiasm and closed mostly higher on Monday. Chinese stocks closed on a steady note. The benchmark Shanghai Composite index rose 11.18 points or 0.33 percent to 3,376.42 while Hong Kong's Hang Seng index finished 286.66 points or 0.61 percent at 27,955.13.

Japanese shares closed at their highest level in more than a week. The Nikkei average jumped 270.95 points or 1.41 percent to 19,545.77, led by gains in recently battered automakers and financial stocks. The broader Topix index closed 1.17 percent higher at 1,612.26.

Australian shares rose sharply. The benchmark S&P/ASX 200 index jumped 40.50 points or 0.71 percent to 5,713.10 while the broader All Ordinaries index finished 35.70 points or 0.62 percent higher at 5,775.10.

European shares are trading higher. Among the major indices CAC 40 of France is up 60.08 points ro 1.17 percent. DAX of Germany is climbing 139.31 points or 1.13 percen. FTSE 100 of England is adding 44.39 points or 0.60 percent. Swiss Market Index is up 56.65 points or 0.64 percent.

Euro Stoxx 50, that provides a Blue-chip representation of supersector leaders in the Eurozone, is gaining 1.18 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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