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Futures Point To Positive Open For Wall Street

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

Investors might be reacting to reports on new and existing home sales, durable goods orders as well as personal income and spending.

Congressional testimony of Federal Reserve Chairman Jerome Powell is scheduled on Tuesday.

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

As of 7.50 am ET, the Dow futures were adding 189.00 points, the S&P 500 futures were up 14.75 points and the Nasdaq 100 futures were gaining 30.75 points.

The U.S. major finished lower on Friday. The Dow tumbled 533.37 points or 1.6 percent to 33,290.08, the Nasdaq slid 130.97 points or 0.9 percent to 14,030.38 and the S&P 500 slumped 55.41 points or 1.3 percent to 4,166.45.

On the economic front, Chicago Fed National Activity Index for May will be issued at 8.30 am ET. The consensus is for an increase of 0.50, while it was up 0.24 in the prior month.

The Six-month Treasury bill auction will be held at 11.30 am ET.

Asian stocks finished mixed on Monday. Chinese shares ended a tad higher. China's Shanghai Composite index ended up 4.09 points, or 0.12 percent, at 3,529.18 while Hong Kong's Hang Seng index fell 312.27 points, or 1.08 percent, to 28,489.

Japanese shares plummeted. The Nikkei average plunged 953.15 points, or 3.29 percent, to 28,010.93. The broader Topx index closed 2.42 percent lower at 1,899.45.

Australian markets registered their steepest fall in nearly five weeks. The benchmark S&P/ASX 200 index tumbled 133.60 points, or 1.81 percent, to finish at 7,235.30, while the broader All Ordinaries index ended down 139.10 points, or 1.82 percent, at 7,485.20.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 4.08 points or 0.06 percent. The German DAX is adding 78.16 points or 0.51 percent, the U.K. FTSE 100 Index is down 4.48 points or 0.06 percent.

The Swiss Market Index is adding 13.13 points or 0.11 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.28 percent.

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