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Wall Street To Open Moderately Higher

wallstreet jun24 lt

Initial trading on U.S. Futures Index suggest that Wall Street might open moderately up.

Chicago Fed National Activity Index and Dallas Fed Manufacturing Survey report for June are the focus on Monday.

Asian shares finished mostly up, while European shares are trading broadly in the red.

Geopolitical developments may attract attention next week along with reports on new home sales, consumer confidence, durable goods orders, and personal income and spending.

As of 7.36 am ET, the Dow futures were gaining 53.00 points, the S&P 500 futures were adding 5.75 points and the Nasdaq 100 futures were up 20.25 points.

U.S. major averages ended Friday modestly lower. The Dow edged down 34.04 points or 0.1 percent to 26,719.13, the Nasdaq slipped 19.63 points or 0.2 percent to 8,031.71 and the S&P 500 dipped 3.72 points or 0.1 percent to 2,950.46.

On the economic front, Chicago Fed National Activity Index for May will be issued at 8.30 am ET. The consensus is for a minus 0.18, while it was minus 0.45.

Dallas Fed Manufacturing Survey for June will be issued at 10.30 am ET. The general activity index is for minus 1.00, while it was minus 5.3 in the previous week. The production index in the previous month was 6.3.

Asian stocks rose broadly. Chinese stocks finished modestly higher. The benchmark Shanghai Composite index rose 0.21 percent to 3,008.15 while Hong Kong's Hang Seng index closed 0.14 percent higher at 28,513.

Japanese markets fluctuated before ending on a positive note. The Nikkei average inched up 0.13 percent to 21,285.99, while the broader Topix index closed 0.12 percent higher at 1,547.74.

Australian markets finished modestly higher. The benchmark S&P/ASX 200 rose 14.60 points or 0.22 percent to 6,665.40 while the broader All Ordinaries index ended up 11.20 points or 0.17 percent at 6,745.50.

European shares are trading mostly in the red. France's CAC 40 is declining 9.78 points or 0.18 percent. Germany's DAX is down 78.03 points or 0.63 percent. FTSE 100 of U.K. is lowering by 2.21 points or 0.03 percent. Swiss Market Index is progressing 2.90 points or 0.03 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is declining 0.40 percent.

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