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Wall Street Poised To Open Higher

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The Labor Department's JOLTS report is the most awaited announcement on Tuesday. The consensus is for an increase from the previous month. Asian shares climbed higher, while European shares are trading mostly up.

The investors are keenly watching the political development around the globe, especially the high-level discussions between North and South Korea.

The cues from the U.S. Futures Index suggest that Wall Street might open higher.

As of 6.30 am ET, the Dow futures were climbing 41 points, the S&P 500 futures were adding 1.25 points, and the Nasdaq 100 futures were gaining 7.00 points.

U.S. stocks closed mixed on Monday. The Dow slid 0.1 percent, while the Nasdaq Composite rose 0.3 percent and the S&P 500 edged up 0.2 percent.

On the economic front, the Labor Department's JOLTS report for November will be published at 10.00 am ET. The economists are looking for consensus of 6.038 million, up from 5.996 million in the prior month.

The Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, is expected at 8.55 am ET. The stores sales in the prior week was up 5.0 percent.

Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a moderated Q&A at Cargill Headquarters in Minnesota, with audience Q&A at 10.00 am ET.

The three-year Treasury Note Auction will be held at 1.00 pm ET.

In the corporate sector, Applied Industrial Technologies (AIT) announced that it has reached a definitive agreement to acquire FCX Performance, Inc., a distributor of specialty process flow control products and services based in Columbus, Ohio, for total consideration of approximately $768 million, subject to customary adjustments.

Advanced Semiconductor Engineering Inc. (ASX) reported said its net revenues climbed 18 percent in U.S. dollar terms to $935 million from $792 million from last year. Sequentially, net revenues edged up 0.4 percent from November. The company's net revenues for the fourth quarter were $2.79 billion, up 14.5 percent from last year and up 14.2 percent sequentially.

Asian stocks closed mostly higher on Tuesday. Chinese shares extended gains for the eighth straight session. The benchmark Shanghai Composite index inched up 4.42 points or 0.13 percent to 3,413.90 while Hong Kong's Hang Seng index closed up 111.88 points or 0.36 percent at 31,011.41.

Japanese shares hit a 26-year high. The Nikkei average climbed 135.46 points or 0.57 percent to 23,849.99, the highest closing level since November 1991. The broader Topix index closed 0.48 percent higher at 1,889.29.

Australian shares rose for a fifth consecutive session, led by miners and financials. The benchmark S&P/ASX 200 gained 5.40 points or 0.09 percent to close at 6,135.80, a new five-year high. The broader All Ordinaries index finished 5 points higher at 6,241.50.

European shares are trading higher. The CAC 40 Index of France is up 25.92 points or 0.47 percent, the German DAX is gaining 9.03 points or 0.07 percent, the U.K. FTSE 100 Index is adding 27.87 points or 0.36 percent and the Swiss Market Index is progressing 35.13 points or 0.37 percent.
The Euro Stoxx 50 Index is down 0.23 percent.

by RTTNews Staff Writer

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