Wall Street Set To Open Higher

wallstreet may03 lt

Asian shares finished mixed on Monday, while European shares are trading mostly higher.

Early signs from the U.S. Futures Index suggest that Wall Street might open positive.

Earnings as well as manufacturing and construction spending data might be of focus today.

Pfizer (PFE), Under Armour (UAA), Lyft (LYFT), General Motors (GM), MetLife (MET), PayPal (PYPL), Uber (UBER), and Kellogg (K) are also among a slew of companies due to report their quarterly results this week.

As of 7.43 am ET, the Dow futures were adding 196.00 points, the S&P 500 futures were up 21.50 points and the Nasdaq 100 futures were adding 40.75 points.

On the economic front, HIS Markit's PMI Manufacturing Final for April will be issued at 9.45 am ET. The consensus is for 60.6, while it was up 59.1 in the prior month.

Institute for Supply Management's Manufacturing Index for April will be released at 10.00 am ET. The consensus is for 65.0, while it was up 64.7 in March.

The Commerce Department's Construction Spending for March will be published at 10.00 am ET. The consensus is for an increase of 2.0 percent, while it was down 0.8 percent in the previous month.

New York Federal Reserve Bank President John Williams will speak before Women in Housing and Finance Virtual Annual Symposium at 2.10 pm ET.

The major U.S. averages all closed firmly in negative territory on Friday. The Dow slid 185.51 points or 0.5 percent to 33,874.85, the Nasdaq dropped 119.87 points or 0.9 percent to 13,962.68 and the S&P 500 fell 30.30 points or 0.7 percent to 4,181.17.

Today, Chinese and Japanese markets were closed for Labor Day and Constitution Memorial Day, respectively. Hong Kong's Hang Seng index fell 367.34 points, or 1.28 percent, to 28,357.54 on the first trading day of the month.

Australian markets gave up early gains to end on a flat note. The benchmark S&P/ASX 200 index ended up 3 points at 7,028.80, while the broader All Ordinaries index ended marginally lower at 7,286.80.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is gaining 43.51points or 0.70 percent. The German DAX is progressing 122.84 points or 0.81 percent, the U.K. FTSE 100 Index is declining 4.88 points or 0.07 percent.

The Swiss Market Index is gaining 106.31 points or 0.97 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.84 percent.

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