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Wall Street Might Edge Up At Opening


The market awaits the U.S. and global growth forecast by the IMF to be announced at the annual meeting to be held in Washington DC at 9.00 am ET. In the previous period, IMF was looking for U.S. growth of 2.1 percent for 2017-18, while President Trump's projection was 4.0 percent.

The market is also keenly watching geo-political developments around Spain's Catalan issue and North Korea.

The Initial trading at U.S. Futures Index suggest that Wall Street might open higher. Asian shares finished higher, while European shares are trading mixed.

As of 7 am ET, the Dow futures were adding 34 points, the S&P 500 futures were adding 3.50 points and the Nasdaq 100 futures were climbing 10.25 points.
U.S. stocks closed modestly lower on Monday. The Dow edged down 12.60 points or 0.1 percent to 22,761.07, the Nasdaq dipped 10.45 points or 0.1 percent to 6,579/73 and the S&P 500 slipped 4.60 points or 0.2 percent to 2,544.73.

On the economic front, Redbook, the weekly measure of comparable store sales at chain stores, discounters, and department stores, will be published at 8.55 am ET. In the prior week, the stores sales were up 4.1 percent.

Minneapolis Federal Reserve Bank President Neel Kashkari will speak at Regional Economic Conditions Conference in Minneapolis at 10.00 am ET.

Dallas Federal Reserve Bank President Rob Kaplan will participate in a moderated Q&A session at Stanford Institue for Economic Policy Research Associates Meeting in Stanford, with audience and media Q&A at 8.00 pm ET.

The 52-week Treasury Bill auction will be held at 1.00 pm ET.

In the corporate sector, Honeywell (HON) announced its plan to spin off its Homes product portfolio and ADI global distribution business, as well as its Transportation Systems business, into two stand-alone, publicly-traded companies. The separation is expected to be completed by the end of 2018.

Asian stocks ended Tuesday's session higher. Chinese shares erased early losses to end higher. The benchmark Shanghai Composite index edged up 8.61 points or 0.26 percent to 3,382.99 while Hong Kong's Hang Seng index finished up 164.24 points or 0.58 percent at 28,490.83.

Japanese shares rose to close near their highest level in 21 years. The Nikkei average rose 132.80 points or 0.64 percent to 20,823.51 as trading resumed after a three-day weekend. The broader Topix index closed 0.47 percent higher at 1,695.14.

Australian shares gave up early gains to end marginally lower. The benchmark S&P/ASX 200 index ended marginally lower at 5,738.10 while the broader All Ordinaries index finished little changed with a positive bias.

European shares are trading mixed. CAC 40 of France is down 2.90 points or 0.05 percent. DAX of Germany is declining 6.97 points or 0.05 percent. FTSE 100 of England is climbing 12.96 points or 0.17 percent. Swiss Market Index is adding 8.70 points or 0.09 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,

by RTTNews Staff Writer

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