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Initial Trend Says Wall Street Might Open High


The week ahead is relatively dull with only a few major economic announcements. On Monday, the market is focused on Fed's Consumer Credit report, TD Ameritrade's IMX index and a few Fed speeches.

Asian shares closed higher, while European shares are trading mixed. Early trends from U.S. Futures Index suggest that Wall Street might open broadly higher.

As of 6.30 am ET, the Dow futures were adding 41 points, the S&P 500 futures were gaining 0.25 points and the Nasdaq 100 futures were progressing 2.50 points.

U.S. stocks closed higher on Friday. The Dow advanced 220.74 points or 0.9 percent to 25,295.87, the Nasdaq climbed 58.64 points or 0.8 percent to 7,136.56 and the S&P 500 rose 19.16 points or 0.7 percent to 2,743.15.

On the economic front, Fed's Consumer Credit for November will be published at 3.00 pm ET. The economic analysts are looking for consensus of $18 billion, down from $20.5 billion a month ago.

TD Ameritrade's Investor Movement Index or IMX for December Is expected at 12.30 pm ET. The prior month level was 8.53.

Boston Federal Reserve Bank President Eric Rosengren will participate in the last panel of the day on "Next Steps: Learning From the Bank of Canada" at the "Should the Fed Stick With the 2 Percent Inflation Target or Rethink It?" Forum in Washington.

Atlanta Federal Reserve Bank President Raphael Bostic to speak on "Economic Outlook and Monetary Policy" at the Rotary Club of Atlanta in Atlanta, with audience and media Q&A at 12.40 pm ET.

San Francisco Bank President John Williams will participate in panel on "Should the Fed Stick with the 2 Percent Inflation Target or Rethink it?" in Washington, with audience Q&A at 1.35 pm ET.

In the corporate segment, Stage Stores, Inc. (SSI), a retailer of apparel, accessories, cosmetics, footwear and home goods, reported 1.1 percent increase in comparable sales for the nine-week period ended December 30.

Crocs, Inc. lifted its fourth-quarter revenue guidance to between $195 and $198 million from previously expected between $180 and $190 million. The new outlook approximates 5 percent growth over the prior year's fourth quarter revenues of $187.4 million. The company also increased its fourth quarter expected gross margin guidance by 200 basis points to approximately 45 percent from approximately 43 percent, a 300 basis point increase over the prior year's fourth quarter gross margin.

Asian stocks closed mostly higher on Monday. Chinese shares extended gains for the seventh straight session. The benchmark Shanghai Composite index rose 0.52 percent to close at 3,409.48, a six-week high. Hong Kong's Hang Seng index finished 84.89 points or 0.28 percent at 30,899.53.

Australian shares extended gains for a fourth consecutive session. The benchmark S&P/ASX 200 index pared early gains to finish 8.10 points or 0.13 percent higher at 6,130.40 while the broader All Ordinaries index ended up 6.80 points or 0.11 percent at 6,236.50.

The latest survey from the Australian Industry Group revealed that the construction sector in Australia continued to expand in December, although at a much slower rate, with an index score of 52.8, down sharply from 57.5 in November.

European shares are trading mostly higher. CAC 40 of France is up 23.62 points or 0.43 percent. DAX of Germany is climbing 53.36 points or 0.40 percent.

FTSE 100 of England is declining 2.46 points or 0.04 percent. Swiss Market Index is down 8.07 points or 0.08 percent.

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