logo
Plus   Neg
Share
Email

Futures Suggest Wall Street To Open Higher

wallstreet-031318-lt.jpg

The market might react to the Labor Department's Consumer Price Index for February. The early trends in U.S. Futures index on Tuesday suggest that Wall Street might open broadly higher.

Asian stocks finished mixed, while European shares are trading prominently higher.

The market might be guided by cues from geo-political developments.

As of 6:40 am ET, the Dow futures were climbing 67 points, the S&P 500 futures were adding 6.25 points, and the Nasdaq 100 futures were climbing 8.75 points.

U.S. closed mixed on Monday. The tech-heavy Nasdaq rose 27.51 points or 0.4 percent to a new record closing high of 7,588.32, the Dow fell 157.13 points or 0.6 percent to 25,178.61 and the S&P 500 dipped 3.55 points or 0.1 percent to 2,783.02.

On the economic front, the Labor Department's Consumer Price Index for February will be issued at 8.30 am ET. The market analysts are looking for consensus of 0.2 percent, compared to 0.5 percent in January.

The Redbook for the week will be published at 8.55 am ET. The prior year over year store sales was up 3.8 percent.

30-year Bond Auction is scheduled at 1.00 PM ET.

In the corporate sector, German re-insurer Hannover Re AG reported that its Group net income for fiscal year 2017 declined to EUR 958.6 million from last year's EUR 1.171 billion. Earnings per share amounted to EUR 7.95 down from EUR 9.71 in the prior year.

Asian stocks ended mixed on Tuesday. Chinese shares ended lower to snap a three-day winning streak. The benchmark Shanghai Composite index slid 16.46 points or 0.49 percent to 3,310.24 while Hong Kong's Hang Seng index finished 7.12 points or 0.02 percent higher at 31,601.45.

Japanese shares rose for a fourth day. The Nikkei average climbed 144.07 points or 0.66 percent to 21,968.10 while the broader Topix index closed 0.56 percent higher at 1,751.03.

Australian shares closed lower. Business confidence in Australia ebbed in January, the latest survey from National Australia Bank revealed with an index score of +9. The benchmark S&P/ASX200 index dropped 21.40 points or 0.36 percent to 5,974.70 while the broader All Ordinaries index ended down 24.30 points or 0.40 percent at 6,077.10.

European shares are trading mostly higher. The CAC 40 Index of France is up 22.30 points or 0.42 percent, the German DAX is gaining 25.83 points or 0.20 percent, the U.K. FTSE 100 Index is adding 2.81 points or 0.04 percent and the Swiss Market Index is declining 1.79 points or 0.02 percent.

The Euro Stoxx 50 Index is up 0.33 percent.

For comments and feedback contact: editorial@rttnews.com

Follow RTT