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Wall Street Might React To Las Vegas Massacre; Futures Positive


The market might react to the massacre in Jason Aldean concert in Las Vegas. The death toll in the mass shooting rose to 50 with more than 200 injured. Police said they have identified the suspect Stephen Paddock and identified the interest of a female person in the carnage.

Initial trading in the U.S. Futures Index points to a positive opening for Wall Street. The market awaits ISM manufacturing index and the Construction spending. Fed Chair Janet Yellen is scheduled to speak in a conference in St. Louis on Wednesday.

Asian shares closed higher, while European shares are trading on a positive note.

As of 7.15 am ET, the Dow futures were adding 44 points, the S&P 500 futures were gaining 3.75 points and the Nasdaq 100 futures were progressing 12 points.

U.S. stocks closed mostly higher on Friday. The major averages all closed in positive territory, although the Dow inched up just 23.89 points or 0.1 percent to 22,405.09. The Nasdaq advanced 42.51 points or 0.7 percent to 6,495.96 and the S&P 500 climbed 9.30 points or 0.4 percent to 2,519.36.

On the economic front, the Purchasing Managers' Manufacturing Index for September will be published at 9.45 am ET. The economists are looking for consensus of 53.0, compared to 52.8 in the previous month.

Institute For Supply Management or ISM Manufacturing Index for September will be revealed at 10.00 am ET. The consensus is for 58.0, slightly down from 58.8 in August.

The Commerce Department's Construction Spending Data for August will be issued at 10.00 am ET. The forecasters are looking for growth consensus of 0.3 percent, while it declined 0.6 percent in the previous month.

Dallas Federal Reserve Bank President Robert Kaplan will participate in a moderated Q&A session at Dialogue with the Fed Luncheon in El Paso, Texas, with audience Q&A at 2.00 pm ET.

In the corporate sector, Metro Inc. announced a definitive agreement to acquire Jean Coutu Group for $24.50 per share, representing total consideration of around $4.5 billion. Jean Coutu Group shareholders will receive an aggregate consideration which will consist of 75 percent in cash and 25 percent in Metro shares.

Asian stocks closed mostly higher on Monday. Shanghai Composite Index of China closed 9.30 points or 0.28 percent higher at 3,348.94. Hang Seng of Hong Kong rose 132.70 points or 0.48 percent to close at 27,554.30.

Japanese shares finished higher. The Nikkei average rose 44.50 points or 0.22 percent to 20,400.78. The broader Topix index closed marginally lower at 1,673.62.
Australian shares rose sharply. The benchmark S&P/ASX 200 index jumped 47.70 points or 0.84 percent to finish at 5,729.30.

European shares are trading higher. CAC 40 of France is climbing 5.14 points or 0.10 percent. DAX of Germany is up 36.85 points or 0.29 percent. FTSE 100 of England is adding 40.82 points or 0.55 percent. Swiss Market Index is progressing 43.77 points or 0.48 percent.

Euro Stoxx 50, the index that covers 50 stocks from 11 Eurozone countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain, is currently declining 0.05 percent.

by RTTNews Staff Writer

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