Wall Street Set To Open Moderately Higher

wallstreet jan19 lt

Lasting worries about the increase in the new COVID-19 variant across the world are affecting market sentiments. Despite the efforts for vaccination, the spread is rapid.

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

Asian shares fell on the day and the European shares are trading mostly higher.
As of 7.30 am ET, the Dow futures were up 67.00 points, the S&P 500 futures were adding 12.00 points and the Nasdaq 100 futures were progressing 40.25 points.

The U.S. stocks tumbled Tuesday. The Dow lost 1.5 percent, the tech-heavy Nasdaq Composite sank 2.6 percent and the S&P 500 declined 1.8 percent.

On the economic front, the Housing Starts and Permits for December will be published at 8.30 am ET. The consensus is for 1.650 million, while it was up 1.679 million in the prior month.

The Redbook for the week will be published at 8.55 am ET. In the prior week, the Store Sales were up 14.4 percent.

Twenty-year Treasury Bond auction will be held at 1.00 pm ET.

Asian stocks fell on Wednesday. Chinese shares recorded modest losses, with the benchmark Shanghai Composite index ending down 11.73 points, or 0.33 percent, at 3,558.18. Hong Kong's Hang Seng index finished marginally higher at 24,127.85.

Japanese shares hit a five-month low. The Nikkei average plummeted 790.02 points, or 2.80 percent, to 27,467.23 - its lowest since Aug. 20. The broader Topix index closed 2.97 percent lower at 1,919.72.

Australian markets followed Wall Street lower. The benchmark S&P/ASX 200 index dropped 76.30 points, or 1.03 percent, to 7,332.50 while the broader All Ordinaries index ended down 79.20 points, or 1.02 percent, at 7,656.60.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 43.33 points or 0.61 percent. The German DAX is adding 55.28 points or 0.35 percent, the U.K. FTSE 100 Index is gaining 29.93 points or 0.39 percent.

The Swiss Market Index is declining 29.97 points or 0.24 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.60 percent.

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