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Wall Street Set To Open Positive

wallstreet aug11 lt

The economic calendar is relatively quiet on Tuesday and the Producer Price Index for July and the Redbook Data for the week might get investor attention.

Amid high fears about the COVID-19 infections, Russia has registered the first vaccine 'Sputnik V.' against the pandemic. Russian President Vladimir Putin said mass production will be available within weeks and expects to produce millions of doses in the coming months.

Investors await a meeting between top U.S. and Chinese trade officials on Saturday.
Early signs from the U.S. Futures Index suggest that Wall Street might open higher.
Asian shares finished mostly higher, while European shares are trading positive.

As of 7.50 am ET, the Dow futures were gaining 283.00 points, the S&P 500 futures were progressing 19.25 points and the Nasdaq 100 futures were adding 10.00 points.
The U.S. major Indices closed broadly higher on Monday. The Nasdaq fell 42.63 points or 0.4 percent to 10,968.36, the Dow jumped 357.96 points or 1.3 percent to 27,791.44 and the S&P 500 rose 9.19 points or 0.3 percent to 3,360.47.

On the economic front, the Producer Price Index of the Bureau of Labor Statistics for July will be issued at 8.30 am ET. The consensus is for an increase of 0.3 percent, while it was down 0.2 percent in the prior month.

The Redbook Data for the week will be published at 8.55 am ET. In the prior week, the Store Sales were down 7.1 percent.

San Francisco Federal Reserve Bank President Mary Daly will speak in a fireside chat at a Professional Businesswomen of California annual conference event at 12.00 pm ET.
Three-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks ended mostly higher on Tuesday. Chinese stocks ended sharply lower. The benchmark Shanghai Composite index fell 38.96 points, or 1.15 percent, to 3,340.29, while Hong Kong's Hang Seng index rose 2.11 percent to finish at 24,890.68.

Japanese shares posted strong gains. The Nikkei average climbed 420.30 points, or 1.88 percent, to 22,750.24, while the broader Topix index closed 2.54 percent higher at 1,585.96.

Japan's current account surplus of 167.5 billion yen in June beat expectations. Exports were down 25.7 percent on-year to 4.793 trillion yen.

Australian markets hit a three-week high. The benchmark S&P/ASX 200 index ended up 28.50 points, or 0.47 percent, at 6,138.70. The broader All Ordinaries index rose 25 points, or 0.40 percent, to 6,272.10.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is gaining 128.91 points or 2.62 percent. The German DAX is adding 302.29 points or 2.39 percent, the U.K. FTSE 100 Index is progressing 130.28 points or 2.15 percent.

The Swiss Market Index is achieving 68.89 points or 0.69 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 2.46 percent.

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