Futures Point To Positive Open For Wall Street

wallstreet oct19 lt

The Commerce Department's new residential construction in the month of September, Housing starts, and building permits might get special attention on the day.

Asian shares finished mostly higher, while European shares are trading broadly up.
The initial U.S. Futures Index suggests that Wall Street might open positive.

As of 7.50 am ET, the Dow futures were up 166.00 points, the S&P 500 futures were adding 22.00 points and the Nasdaq 100 futures were progressing 63.75 points.

The major U.S. stocks indexes turned in a mixed performance on Monday. The Dow climbed well off its worst levels of the day but still ended the day down 36.15 points or 0.1 percent at 35,258.61. Meanwhile, the Nasdaq advanced 124.47 points or 0.8 percent to 15,021.81 and the S&P 500 rose 15.09 points or 0.3 percent to 4,486.46.

On the economic front, the Commerce and Housing & Urban Development department's Housing Starts and Permits data for September will be published at 8.30 am ET. The consensus is for $1.621 million, while it was up 1.615 million in the prior month.

The Redbook data for the week will be released at 8.55 am ET. In the prior week, the Store Sales were up 14.8 percent.

Philadelphia Federal Reserve Bank President Patrick Harker will give welcome remarks before "C3: Cybersecurity Collaboration & Cooperation" Conference hosted by the Federal Reserve Bank of Philadelphia at 8.50 am ET.

Atlanta Federal Reserve Bank President Raphael Bostic to give introductory remarks before Federal Reserve Exploring Careers in Economics event at 1.00 pm ET. Bostic will also participate in a virtual interview, Back to Work: Helping the Long-Term Unemployed before an event hosted by The Hill at 2.50 pm ET.

Asian stocks rose broadly on Tuesday. Chinese shares clawed back losses a day after the country reported its weakest economic growth in a year. The benchmark Shanghai Composite index rose 25.02 points, or 0.70 percent, to 3,593.15 while Hong Kong's Hang Seng index ended up 377.46 points, or 1.49 percent, at 25,787.21.

Japanese shares ended notably higher. The Nikkei average climbed 190.06 points, or 0.65 percent, to 29,215.52, while the broader Topix index closed 0.36 percent higher at 2,026.57.

Australian markets ended a choppy session with little changed. The benchmark S&P/ASX 200 index finished marginally lower at 7,374.90, snapping a three-session winning streak.

The broader All Ordinaries index ended with a positive bias at 7,690.20 as minutes from the RBA's October 5 meeting reiterated a dovish rate outlook.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 2.44 points or 0.04 percent. The German DAX is adding 15.31 points or 0.15 percent, the U.K. FTSE 100 Index is gaining 2.63 points or 0.04 percent.

The Swiss Market Index is declining 70.88 points or 0.59 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.27 percent.

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