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Wall Street To Open Higher

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Fed's Consumer Credit Report for July is the major economic data to be published on Monday.

Asian shares closed broadly lower, while European shares are trading in the green pasture. Futures Market signals at the initial hours suggest that Wall Street might open higher.

As of 7.45 am ET, the Dow futures were gaining 87.00 points, the S&P 500 futures were adding 10.00 points and the Nasdaq 100 futures were up 37.75 points.

U.S. stocks closed in negative territory. The Dow fell 79.33 points or 0.3 percent to 25,916.54, the Nasdaq dipped 20.18 points or 0.3 percent to 7,902.54 and the S&P 500 slipped 6.37 points or 0.2 percent to 2,871.68.

On the economic front, Atlanta Federal Reserve Bank President Raphael Bostic will participate in a fireside chat to the Albany Chamber of Commerce in Albany, Georgia, with audience Q&A at 11.30 am ET.

TD Ameritrade IMX for August will be published at 12.30 pm ET. The prior month's level was 5.45.

Fed's Consumer Credit Index for July will be published at 3.00 pm ET. The consensus is for $14.0 billion, up from $10.2 billion in the prior month.

In the corporate sector, United Rentals, Inc. agreed to acquire equipment rental company BlueLine Rental from global investment firm Platinum Equity for about $2.1 billion in cash. The board of directors of United Rentals has unanimously approved the agreement. The transaction is expected to close in the fourth quarter of 2018.

Asian stocks closed lower on Monday. Chinese and Hong Kong shares fell sharply. The benchmark Shanghai Composite index tumbled 32.82 points or 1.21 percent to 2,669.48 while Hong Kong's Hang Seng index lost 1.33 percent to end at 26,613.42.

Japanese shares snapped a six-day losing streak as upbeat revised GDP data and a slightly weaker yen helped investors shrug off trade worries. The Nikkei average rose 66.03 points or 0.30 percent to 22,373.09 while the broader Topix index closed 0.20 percent higher at 1,687.61.

Australian markets fell for the eighth straight session, though stocks ended off their day's lows in the wake of positive economic data from China. Both the S&P/ASX200 index and the broader All Ordinaries index finished marginally lower at 6,141.70 and 6,249.70, respectively.

European shares are trading positive. Among the major indexes in the region, the CAC 40 Index of France is climbing 27.03 points or 0.51 percent. The German DAX is loosing 54.03 points or 0.45 percent, the U.K. FTSE 100 Index is progressing 25.00 points or 0.34 percent. The Swiss Market Index is up 87.97 points or 0.99 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.72 percent.

by RTTNews Staff Writer

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