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Futures Points To Positive Open For Wall Street


Investors are keenly watching friction between Washington and Tehran, after Iran's claim that it shot down a U.S. drone near its borders and said it is ready for war. Oil price surged subsequently.

Jobless Claims as Philadelphia Fed Business Outlook Survey report are the highlight on economic front.

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

Asian shares finished higher, while European shares are trading up.

As of 8.05 am ET, the Dow futures were adding 225 points, the S&P 500 futures were up 27.50 points and the Nasdaq 100 futures were progressing 102.75 points.

The U.S. major averages posted moderate gains on Wednesday. The Dow edged up 38.46 points or 0.2 percent to 26,504.00, the Nasdaq climbed 33.44 points or 0.4 percent to 7,987.32 and the S&P 500 rose 8.71 points or 0.3 percent to 2,926.46.

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 219K while it was 222K in the previous week.

Philadelphia Fed Business Outlook Survey report for June will be released at 8.30 am ET. The consensus is for 11.0, down from 16.6 in the previous month.

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 102 bcf.

Two -year, five year and seven year Treasury Note auction will be held at 11.00 am ET. The 5-year Treasury inflation-indexed securities or TIPS 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 $3.850 trillion.

The Fed Money Supply for week is scheduled at 4.30 pm ET. The M2 weekly change was up $28.4 billion.

Asian stocks rose broadly on Thursday. China's Shanghai Composite index jumped as much as 69.32 points or 2.38 percent to 2,987.12 amid mounting hopes for the U.S.-China meeting. Hong Kong's Hang Seng index climbed 1.23 percent to 28,550.43.

Japanese markets hit fresh six-week highs. The Nikkei average closed up 128.99 points or 0.60 percent at 21,462.86 after climbing as much as 1.7 percent the previous day.

The broader Topix index closed 0.30 percent lower at 1,559.90.

Australian markets advanced. The benchmark S&P/ASX 200 index rose 39.30 points or 0.59 percent to 6,687.40 while the broader All Ordinaries index ended up 39.40 points or 0.59 percent at 6,767.90.
European shares are trading higher. CAC 40 of France is up 35.91 points or 0.65 percent. DAX of Germany is progressing 99.65 points or 0.81 percent. FTSE 100 of England is progressing 51.19 points or 0.69 percent. Swiss Market Index is up 85.62 points or 0.86 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.72 percent.

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