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Futures Suggest Positive Note On Wall Street

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The Market is in a rally mood as fears on Irma is down. The geo-political situations are showing improvement and the investors are keenly watching North Korea's reaction to UN sanctions. Initial trend in the U.S. Futures Index suggest Wall Street to open higher. JOLTS Report is the major economic announcement of the day. Asian stocks closed higher, while European shares are broadly higher.

As of 7.15 am ET, the Dow futures were up 51 points, the S&P 500 futures were adding 4.00 points and the Nasdaq 100 futures were climbing 11.25 points.

U.S. stocks closed mostly higher on Monday. The S&P 500 rose 1.1 percent to mark its biggest gain since late April and the Nasdaq Composite also climbed 1.1 percent to close just below the record closing high it set on Sept. 1 while the Dow rallied 1.2 percent.

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 up 4.4 percent.

The Labor Department's JOLTS report for July that tracks monthly change in job openings and offers rates on hiring and quits will be issued at 10.00 am ET. The economists are looking for consensus of 6.010 million.

10-year Treasury Note auction will be held at 1.00 pm ET. The 52-week bill auction will be at 11.30 am ET.

On the corporate sector, JD Sports Fashion Plc reported an increase in first-half profit before tax climbed 33 percent to 102.7 million pounds from last year's 77.4 million pounds. Basic earnings per ordinary share grew 36 percent to 8.09 pence from 5.97 pence last year. Revenue for the period climbed 41 percent to 1.37 billion pounds from 970.6 million pounds a year ago.

Crédit Agricole S.A. announced that its subsidiary Crédit Agricole Corporate & Investment Bank S.A. has agreed to sell a 16.2 percent equity stake in Banque Saudi Fransi, for a total consideration of approximately 1.3 billion euros. CACIB signed the legally binding agreement with Kingdom Holding Company, a Saudi diversified holding company which is listed on the Saudi Stock Exchange. CACIB is reducing its shareholding in BSF to 14.9 percent.

Asian stocks finished higher on Tuesday. Chinese shares inched higher, although gains remained modest ahead of August industrial output, retail sales and fixed-asset investment data due this week. The benchmark Shanghai Composite closed 3 points higher at 3,379.49 while Hong Kong's Hang Seng index finished 17.11 points or 0.06 percent higher at 27,972.24.
Japanese shares hit their highest level in a month as a weaker yen bolstered exporters and financials also gained ground in the wake of sharp gains in U.S. bond yields and lower-than-expected damage from Hurricane Irma.
The Nikkei average jumped 230.85 points or 1.18 percent to 19,776.62, the highest level since Aug. 8. The broader Topix index closed 0.94 percent higher at 1,627.45.
Australian shares rose notably. The benchmark S&P/ASX 200 index rose by 33.30 points or 0.58 percent to 5,746.40 while the All Ordinaries index ended up 31.30 points or 0.54 percent at 5,806.40.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 32.50 points or 0.63 percent, the German DAX is adding 72.01 points or 0.57 percent, the U.K. FTSE 100 Index is slipping 17.18 points or 0.23 percent and the Swiss Market Index is up 61.27 points or 0.68 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is progressing 0.65 percent.

by RTT Staff Writer

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