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Wall Street Poised To Open Modestly Up


Investors are closely observing the impact of U.S. sanction on Iran and its reflections on energy market. Iran responded that it would "break" the sanctions and would continue selling oil.

Major corporates are scheduled to report their earnings this week.

PMI and ISM data are the major highlights on Monday. Initial trends from U.S. Futures Index suggest that Wall Street might open modestly higher.

Asian shares finished mostly lower, while European shares are on a positive note.

As of 7.16 am ET, the Dow futures were gaining 30.00 points, the S&P 500 futures were up 4.00 points and the Nasdaq 100 futures were increasing 12.50 points.

U.S. stocks ended Friday in the red. The Dow fell 109.91 points or 0.4 percent to 25,270.83, the Nasdaq slumped 77.06 points or 1 percent to 7,356.99 and the S&P 500 slid 17.31 points or 0.6 percent to 2,723.06.

On the economic front, New York Federal Reserve Bank President John Williams will give opening remarks at the Investing in America Book Launch Event at the Federal Reserve Bank of New York in New York City.

PMI Services Index for October will be published at 9.45 am ET. The consensus is for 54.7 versus 53.5 in the prior month.

ISM Non-Manufacturing Index for October will be published at 10.00 am ET. The consensus is for 59.4, down from 61.6 in the prior week.

Asian stocks finished in the red on Monday. China's Shanghai Composite index ended the session down 0.41 percent at 2,665.43.
Hong Kong's Hang Seng index fell 2.08 percent to 25,934.39. The private sector in Hong Kong continued to contract in October. The latest survey from Nikkei showed with a PMI score of 48.6, up from 47.9 in September.

Japanese shares fell sharply in thin trading. The Nikkei average ended down 1.55 percent at 21,898.99 after climbing 5 percent last week. The broader Topix index closed 1.11 percent lower at 1,640.39.

Australian markets finished lower to snap a six-day winning streak. The benchmark S&P/ASX200 index dropped 0.53 percent to 5,818.10 while the broader All Ordinaries index ended down 0.52 percent at 5,904.80.

European shares are trading positive. The CAC 40 Index of France is adding 13.02 points or 0.25 percent. The German DAX is up 31.45 points or 0.27 percent, the U.K. FTSE 100 Index is progressing 37.39 points or 0.53 percent. The Swiss Market Index is climbing 36.39 points or 0.40 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.40 percent.

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