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Wall Street Poised To Open Positive

wallstreet aug16 lt

Housing Starts report for August is the highlight on Friday. Positive comments from the U.S. on China trade discussions is adding momentum to investor sentiments. Early signs from the U.S. Futures Index suggest that Wall Street might open positive.

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

As of 8.00 am ET, the Dow futures were gaining 214.00 points, the S&P 500 futures were adding 24.50 points and the Nasdaq 100 futures were gaining 76.75 points.

U.S. stocks finished mostly higher on Thursday. The tech-heavy Nasdaq edged down 7.32 points or 0.1 percent to 7,766.62, the Dow climbed 99.97 points or 0.4 percent to 25,579.39 and the S&P 500 rose 7.00 points or 0.3 percent to 2,847.60.

On the economic front, U.S. Department of Commerce and U.S. Department of Housing & Urban Development's Housing Starts data for July will be published at 8.30 am ET. The consensus is for 1.259 million, slightly up from 1.253 million in the prior month.

University of Michigan's Consumer Sentiment report for August will be released at 10.00 am ET. The consensus is for 97.5, while it was up 98.4 in the prior month.

Baker-Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, North American Rig count was 1074 and U.S. Rig count was 934.

Asian stocks ended mostly higher on Friday. China's Shanghai Composite index edged up 0.29 percent to 2,823.82. Hong Kong's Hang Seng index rallied 0.94 percent to end at 25,734.22.

Japanese shares ended largely unchanged in cautious trade. Both the Nikkei and the broader Topix index finished marginally higher at 20,418.81 and 1,485.29, respectively.

Australian markets fluctuated before finishing little changed with a negative bias. Australia All Ordinaries gave up 4.90 points or 0.08 percent.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 54.40 points or 1.04 percent, the German DAX is gaining 113.65 points or 1.00 percent, the U.K. FTSE 100 Index is progressing 40.35 points or 0.57 percent. The Swiss Market Index is adding 90.76 points or 0.94 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.17 percent.

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