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Wall Street May Get Off To A Stronger Start

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The market is quiet on Monday due to the Columbus Day holiday. The investors are looking ahead to Federal Reserve monetary policy meeting on Wednesday. The initial trading on the Futures Index suggest that Wall Street might open moderately higher. Asian shares closed broadly higher, while European shares are trading on a negative note.

As of 7 am ET, the Dow futures were adding 39 points, the S&P 500 futures were climbing 4.25 points and the Nasdaq 100 futures were progressing 11.75 points.

U.S. stocks closed roughly flat on Friday. The tech-heavy Nasdaq inched up 4.82 points or 0.1 percent to a new record closing high of 6,590.18, the Dow edged down 1.72 points or less than a tenth of a percent to 22,773.67 and the S&P 500 dipped 2.74 points or 0.1 percent to 2,549.33.

On the economic front, TD Ameritrade's Investor Movement Index for September will be issued at 12.30 pm ET. In the prior month the level was at 7.45.

In the corporate sector, Microsoft Corp. and GE sign agreement on new wind project in Ireland. As per the 15-year power purchase agreement, GE will purchase 100 percent of the wind energy from the new, 37-megawatt Tullahennel wind farm in County Kerry, Ireland.

Ericsson (ERIC) announced that Ronnie Leten will be the new chairman of the Board, replacing Leif Johansson.

Asian stocks closed mostly higher on Monday. China's benchmark Shanghai Composite index jumped 25.44 points or 0.76 percent to finish at 3,374.38. Hong Kong's Hang Seng index finished down 131.45 points or 0.46 percent at 28,326.59.

Australian shares rose. The benchmark S&P/ASX 200 index climbed 28.60 points or 0.50 percent to finish at 5,739.30 after climbing over 1 percent on Friday. The broader All Ordinaries index finished up 27.70 points or 0.48 percent at 5,805.10.

European shares are trading mostly down. CAC 40 of France is declining 0.41 points or 0.01 percent. DAX of Germany is up $0.55 points. FTSE 100 of England is down 13.75 points or 0.18 percent. Swiss Market Index is dropping 1.22 points or 0.01 percent.

by RTT Staff Writer

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