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Trade Worries Subsided, Wall Street To Surge At Open


As the global trade fears are settled, the market is aiming to new highs. Early trend in U.S. Futures Index suggest that Wall Street might open significantly higher.

Factory Orders, Redbook data and a few Fed speeches are expected today.

Asian shares closed mostly up, while European shares are spiking.

As of 6.30 am ET, the Dow futures were gaining 159 points, the S&P 500 futures were adding 13 points and the Nasdaq 100 futures were slipping 43.75 points.

U.S. stocks made a turn around on Monday to close significantly higher. The Dow jumped 336.70 points or 1.4 percent to 24,874.76, the Nasdaq surged up 72.84 points or 1 percent to 7,330.70 and the S&P 500 spiked 29.69 points or 1.1 percent to 2,720.94.

On the economic front, the Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store sales were 3.3 percent.

New York Federal Reserve Bank President William Dudley will participate in a breakfast roundtable with USVI non-profit leaders and later discuss hurricanes' impact on the local economy with USVI Governor Kenneth Mapp and business community leaders, in St. Thomas, U.S. Virgin Islands, with Q&A at 7.30 am ET.

The Factory Orders for January is expected to publish at 10.00 am ET. The consensus is for a decline of 1.2 percent, compared to prior month's growth of 1.7 percent.

A report on the amount of net stripping of Treasury securities is expected at 3.00 pm ET.

Federal Reserve Governor Lael Brainard will speak about the economic and monetary policy outlook at the "Money Marketeers Forum" in New York City, with audience Q&A at 7.00 pm ET.

Dallas Federal Reserve Bank President Robert Kaplan will participate in a moderated Q&A at the CERA Week in Houston, with audience and media Q&A at 8.30 pm.

In the corporate segment, Amazon.com Inc. reportedly plans to offer grocery deliveries from Whole Foods stores in San Francisco, expanding a test of the service launched in four other cities.

Asian stocks finished mostly higher on Tuesday. Chinese stocks posted strong gains. The benchmark Shanghai Composite index closed 1 percent higher at 3,289.64 while Hong Kong's Hang Seng index closed 624.34 points or 2.09 percent.

Japanese shares snapped a four-day losing streak. The Nikkei average jumped 375.67 points or 1.79 percent to 21,417.76 after hitting a near five-month low on Monday. The broader Topix index closed 1.27 percent higher at 1,716.30.
Australian shares rebounded from four days of declines. The benchmark S&P/ASX 200 index climbed 67.40 points or 1.14 percent to 5,962.40 as Australia's central bank left its key interest rate unchanged at a record low, as widely expected. The broader All Ordinaries index ended up 65.10 points or 1.09 percent at 6,061.50.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 34.73 points or 0.67 percent. The German DAX is gaining 128.80 points or 0.87 percent, the U.K. FTSE 100 Index is adding 59.83 points or 0.86 percent and the Swiss Market Index is up 9.25 points or 0.11 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.84 percent.

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