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Wall Street To Open Broadly Higher

wallstreet sept18 26jun20 lt

The continued rise in the novel coronavirus across the globe and the increase in the death toll to more than half a million is really worrying investors. However, initial signs from the U.S. Futures Index suggest that Wall Street might open broadly higher.

Asian shares finished mostly higher, while European shares are adding trading higher.
As of 8.25 am ET, the Dow futures were adding163.00 points, the S&P 500 futures were down 11.25 points and the Nasdaq 100 futures were sliding 8.25 points.

The U.S. major averages all ended with sharp losses on Friday. The Dow plunged 730.05 points or 2.84 percent to settle at 25,015.55, registering its steepest fall in two weeks. The Nasdaq slid 259.78 points or 2.59 percent to 9,757.22 and the S&P 500 tumbled 74.71 points or 2.42 percent to 3,009.05.

On the economic front, Pending Home Sales Index for May will be issued at 10.00 am ET. The consensus is for 11.3 percent, while it was down 21.8 percent in the prior week.

Dallas Fed Manufacturing Survey for June will be released at 10.30 am ET. In the prior month, the Production Index was down 28.0.

The New York Federal Reserve Bank President John Williams to speak and serve as moderator at an Economic Club of New York event with IMF Managing Director Kristalina Georgieva at 3.00 pm ET.

Asian stocks fell on Monday. China's Shanghai Composite index dropped 0.61 percent to 2,961.52, while Hong Kong's Hang Seng index ended down 1.01 percent at 24,301.28.

Japan's Nikkei index fell 2.3 percent to 21,995.04. The Nikkei ended below the 22,000 level for the first time since June 15th. The broader Topix index closed 1.78 percent lower at 1,549.22.

Australian markets tumbled. The benchmark S&P/ASX 200 dropped 89.10 points, or 1.51 percent, to 5,815, while the broader All Ordinaries index ended down 96.20 points, or 1.60 percent, at 5,915.60.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 20.11 points or 0.41 percent. The German DAX is adding 66.92 points or 0.54 percent, the U.K. FTSE 100 Index is gaining 41.47 points or 0.68 percent.

The Swiss Market Index is down 2.07 points or 0.01 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.39 percent.

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