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Futures Pointing To Initial Strength On Wall Street - U.S. Commentary


After ending the previous session notably higher, stocks may see some further upside in early trading on Monday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 206 points.

The upward momentum on Wall Street comes as traders seem likely to continue to pick up stocks at reduced levels following recent weakness.

Trading activity may be somewhat subdued , however, with a lack of major U.S. economic data likely to keep some traders on the sidelines.

Economic data is likely to attract attention in the coming days, with reports on producer and consumer prices likely to be in focus amid recent concerns about rising inflation.

Reaction to reports on retail sales, industrial production, housing starts, and homebuilder confidence may also impact trading.

Following the sell-off seen in the previous session, stocks saw substantial volatility over the course of the trading session on Friday. The major averages showed wild swings as the day progressed before closing notably higher.

The major averages pulled back off their highs going into the close but remained in positive territory. The Dow surged up 330.44 points or 1.4 percent to 24,190.90, the Nasdaq jumped 97.33 points or 1.4 percent to 6,874.49 and the S&P 500 shot up 38.55 points 1.5 percent to 2,619.55.

Despite the advance on the day, the major averages moved sharply lower for the week. The Nasdaq plummeted by 5.1 percent, while the Dow and the S&P 500 both plunged by 5.2 percent.

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