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Futures Point To Positive Opening For Wall Street


Early signs from the U.S. Futures Index suggest that Wall Street might open moderately higher on Monday.

Factory Orders and TD Ameritrade IMX are the major economic news on the day. Alphabet will be reporting their earnings today.

Asian shares finished higher, while European shares are trading broadly lower.

As of 8.00 am ET, the Dow futures were adding 23.00 points, the S&P 500 futures were gaining 2.75 points and the Nasdaq 100 futures were up 8.00 points.

The U.S. major averages finished broadly higher on Friday. The Nasdaq fell 17.87 points or 0.3 percent to 7,263.87, the Dow rose 64.22 points or 0.3 percent to 25,063.89 and the S&P 500 inched up 2.43 points or 0.1 percent to 2,706.53.

On the economic front, Factory Orders for November will be published at 10.00 am ET. The consensus is for growth of 0.3 percent, compared to decline of 2.1 percent in the prior month.

TD Ameritrade Investor Movement Index or IMX for January will be issued at 12.30 pm ET. In the prior month, the level was 4.41.

Cleveland Federal Reserve Bank President Loretta Mester will deliver a speech on economic outlook and monetary policy at the 50 Club of Cleveland Annual meeting in Cleveland, Ohio, followed by audience Q&A at 7.30 pm ET.

Asian stocks ended higher on Monday. The Chinese market remained shut for a week for the Spring Festival. Seoul markets were closed for the Lunar New Year holidays.

Hong Kong's Hang Seng index rose 0.21 percent to 27,990.21.

Japanese shares closed higher. The Nikkei average gained 95.38 points or 0.46 percent to finish at 20,883.77 while the broader Topix index closed 1.07 percent higher at 1,581.33.

Australian markets finished modestly higher. The benchmark S&P/ASX200 index rose 28.40 points or 0.48 percent to 5,891.20 while the broader All Ordinaries index ended up 27.70 points or 0.47 percent at 5,963.

European shares are trading broadly lower. France's CAC 40 is declining 26.55 points or 0.53 percent. Germany's DAX is down 24.47 points or 0.23 percent. FTSE 100 of U.K. is gaining 18.63 points or 0.28 percent. Swiss Market Index is up 6.29 points or 0.07 percent.

Eurozone's leading Blue Chip index,Euro Stoxx 50, is declining 0.44 percent.

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