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Wall Street Aims Positive At Open

wallstreet nov02 lt

All eyes are on the presidential election. Investors might keep an eye on the monthly jobs report as well as the Federal Reserve's latest monetary policy decision.

Asian shares finished higher, while European shares are trading positive.

Early signs from the U.S. Futures Index suggested Wall Street might open higher.

As of 7.21 am ET, the Dow futures were adding 421.00 points, the S&P 500 futures were gaining 43.00 points and the Nasdaq 100 futures were up 111.00 points.

The U.S. major averages remained in negative territory on Friday. While the Nasdaq plunged 274.00 points or 2.5 percent to 10,911.59, the S&P 500 tumbled 40.15 points or 1.2 percent to 3,269.96 and the narrower Dow fell 157.51 points or 0.6 percent to 26,501.60.

IHS Markit's PMI Manufacturing Final survey report for October will be issued at 9.45 am ET. The consensus is for 53.3, while it was 53.1 in the prior month.

ISM Manufacturing Index for October will be published at 10.00 am ET. The consensus is for 55.7, slightly up from 55.4 in the prior month.

Construction Spending for September will be released at 10.00 am ET. The consensus is for an increase of 0.9 percent, down from 1.4 percent in August.

Asian stocks rose on Monday. Chinese shares ended a choppy session on a flat note despite further signs of recovery in the country's manufacturing sector. The benchmark Shanghai Composite index ended up 0.59 points at 3,225.12, while Hong Kong's Hang Seng index climbed 352.59 points, or 1.46 percent, to 24,460.01.

Japanese shares rallied as the yen weakened against the dollar and a survey showed the manufacturing sector in the country contracted at a slower pace in October.

The Nikkei average inched up 318.35 points, or 1.39 percent, to 23,295.48, snapping a five-day losing streak. The broader Topix index closed 1.81 percent higher at 1,607.95 ahead of a national holiday on Tuesday.

Australian markets fluctuated before ending modestly higher. The benchmark S&P/ASX 200 edged up 23.70 points, or 0.40 percent, to 5,951.30, while the broader All Ordinaries index ended up 14.20 points, or 0.23 percent, at 6,147.40.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 159.54 points or 3.37 percent. The German DAX is adding 220.37 points or 1.91 percent, the U.K. FTSE 100 Index is gaining 65.23 points or 1.17 percent.

The Swiss Market Index is adding 151.52 points or 1.58 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.95 percent.

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