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Wall Street Aims To Open Higher

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Initial cues from the U.S. Futures Index suggest that Wall Street might open moderately higher.

Asian shares finished broadly lower, while European shares are trading down.
Durable Goods Orders for June and the Dallas Fed Manufacturing Survey for July are the major economic announcement on Monday.

Investors are likely to keep an eye on earnings reports and the latest updates on COVID -19 infections.

McDonald's (MCD), Pfizer (PFE), Boeing (BA), General Electric (GE), Facebook (FB), Procter & Gamble (PG), Amazon (AMZN), Exxon Mobil (XOM), and Chevron (CVX) are among a slew of companies due to report their quarterly results this week.

As of 8.05 am ET, the Dow futures were adding 119.00 points, the S&P 500 futures were up 17.50 points and the Nasdaq 100 futures were gaining 104.50 points.

The U.S. major averages finished Friday off their lows of the session but still firmly in negative territory. The Dow slid 182.44 points or 0.7 percent to 26,469.89, the Nasdaq slumped 98.24 points or 0.9 percent to 10,363.18 and the S&P 500 fell 20.03 points or 0.6 percent to 3,215.63.

On the economic front, the Commerce Department's Durable Goods Orders for June will be issued at 8.30 am ET. The consensus is for an increase of 6.5 percent, while it was up 15.8 percent in the prior month.

Dallas Fed Manufacturing Survey for July will be published at 10.30 am ET. In the prior month, the production index was 13.6.

Two-year Treasury Note auction will be held at 11.30 am ET. The 5-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks turned in a mixed performance on Monday. Chinese shares eked out modest gains. The benchmark Shanghai Composite index rose 8.46 points, or 0.26 percent, to 3,205.23 despite China reporting its highest number of coronavirus cases in three months. Hong Kong's Hang Seng index dropped 0.40 percent to 24,606.56 on concerns that the economy could take longer than expected to recover.

Japanese shares fell slightly as trading resumed after a four-day holiday. The Nikkei average recouped much of the day's losses to end the session down 35.76 points, or 0.16 percent, at 22,715.85. The broader Topix index closed 0.24 percent higher at 1,576.69.

Australian markets edged up slightly. The benchmark S&P/ASX 200 index inched up 20.20 points, or 0.34 percent, to 6,044.20, while the broader All Ordinaries index ended up 21.60 points, or 0.35 percent, at 6,169.60.

The benchmark NZX-50 index dropped 50.64 points, or 0.44 percent, to 11,585.62. Travel-related stocks paced the decliners, with Air New Zealand losing 1.1 percent and Tourism Holdings tumbling 4 percent.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 12.68 points or 0.26 percent. The German DAX is gaining 26.90 points or 0.21 percent, the U.K. FTSE 100 Index is sliding 14.42 points or 0.24 percent.

The Swiss Market Index is adding 56.60 points or 0.55 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.034 percent.

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