Plus   Neg

Wall Street Aims To Open Positive

wallstreet jun13 lt

Oil prices are trending up following the U.S.-Iran tensions and sabotage of two oil tankers off the gulf of Oman. Iran abandoned the ships hit by a magnetic mine and a torpedo and rescued the 21 crew members. The situation is closely monitored by investors as U.S. wants to warn Tehran.

Asian shares finished broadly lower, while European shares are trading mostly positive.

The situation related to Hong Kong extradition protests and caution ahead of the upcoming G20 summit are keeping investors on the sidelines.

Initial signs from the U.S. Futures suggest that Wall Street might open positive.

As of 7.50 am ET, the Dow futures were up 74.00 points, the S&P 500 futures were gaining 8.50 points and the Nasdaq 100 futures were progressing 31.00 points.

U.S. stocks closed lower on Wednesday. The Dow edged down 43.68 points or 0.2 percent to 26,004.83. The tech-heavy Nasdaq fell 29.85 points or 0.4 percent to 7,792.72 and the S&P 500 dipped 5.88 points or 0.2 percent to 2,879.84.

On the economic front, the Labor Department's Jobless Claims for the week will be issued at 8.30 am ET. The economists are looking for consensus of 216K while it was 218K in the previous week.

The Import and Export Prices for May will be published at 8.30 am ET. The consensus for import price is for a decline of 0.3 percent, while it grew 0.2 percent in the prior month. Export prices are expected to increase 0.1 percent, while it was up 0.2 percent in April.

The Energy Information Administration or EIA's Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the change was up 119 bcf.

EIA's Petroleum Status Report for the week will be revealed at 11.00 am ET. In the previous week, the crude oil inventories were up 3.6 million barrels and Gasoline were up 0.4 million barrels.

Five year Treasury inflation-indexed securities or TIPS auction will be held at 11.00 am ET, while the 30-year Bond Auction will be held at 1.00 pm ET.

The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the previous week, the level was $3.848 trillion.

The Fed Money Supply for the week is scheduled at 4.30 pm ET. The M2 weekly change was $56.6 billion.

Asian stocks ended mostly lower in cautious trade on Thursday. Chinese shares ended on a subdued note. Hong Kong's Hang Seng index ended marginally lower.

Japanese shares fell. The Nikkei average ended down 97.72 points or 0.46 percent at 21,032. The broader Topix index closed 0.82 percent lower at 1,541.50.

Australian markets fluctuated before ending lower. The benchmark S&P/ASX 200 ended marginally lower at 6,542.40 while the broader All Ordinaries index ended down 0.15 percent at 6,619.10.

European shares are trading broadly positive. CAC 40 of France is adding 0.17 points or 0.00 percent. DAX of Germany is progressing 64.48 points or 0.53 percent. FTSE 100 of England is gaining 13.30 points or 0.18 percent. Swiss Market Index is up 15.80 points or 0.16 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.21 percent.

For comments and feedback contact: editorial@rttnews.com

Follow RTT