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Futures Point To Positive Open For Wall Street

wallstreet may26 lt

Boosted by optimism, U.S. markets are aiming to open higher, shrugging off the fear of the pandemic. Early signs from the U.S. Futures Index suggest that Wall Street might open on a positive note on Tuesday after the long weekend.

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

As of 8.10 am ET, the Dow futures were up 499.00 points, the S&P 500 futures were adding 55.00 points and the Nasdaq 100 futures were progressing150.00 points.

The U.S. major averages finished higher on Friday. The Nasdaq surged up by 3.4 percent, while the Dow and the S&P 500 jumped by 3.3 percent and 3.2 percent, respectively.

On the economic front, the S&P Corelogic Case-Shiller HPI is scheduled at 9.00 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.4 percent in the prior month.

The Federal Housing Finance Agency or FHFA House Price Index for March will be issued at 9.00 am ET. The consensus is for growth of 0.6 percent, slightly down from 0.7 percent in the prior month.

The Conference Board's Consumer Confidence Index for May will be published at 10.00 am ET. The consensus is for an increase of 88.3, up from 86.9 reported in the prior month.

The Commerce Department and the Housing and Urban Development Departments New Home Sales for April will be revealed at 10.00 am ET. The consensus for 495K, much down from 627K recorded last month.

In the corporate sector, Merck & Co., Inc. agreed to buy privately-held Themis for an undisclosed cash payment.

Asian stocks rose on Tuesday. China's Shanghai Composite index rose about 1 percent to 2,846.55. China warned on Monday that it will take counter-measures if the United States insists on undermining its interests regarding Hong Kong. Hong Kong's Hang Seng index rose 1.88 percent to 23,384.66.

Japanese shares hit a near three-month high. The Nikkei average jumped 529.52 points, or 2.55 percent, to 21,271.17, the highest close since March 5. The broader Topix index closed 2.17 percent higher at 1,534.73.

Australian markets soared. The benchmark S&P ASX 200 index climbed 164.40 points, or 2.93 percent, to 5,780, while the broader All Ordinaries index ended up 160 points, or 2.79 percent, at 5,889.90.

European shares are trading mostly higher. CAC 40 of France is adding 44.82 points or 0.99 percent. DAX of Germany is gaining 71.03 points or 0.62 percent. FTSE 100 of England is progressing 57.88 points or 0.97 percent. Swiss Market Index is down 27.20 points or 0.28 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.49 percent.

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