Wall Street Set To Open Mostly Higher

Trading on Tuesday might be influenced by reports on Retail Sales, Industrial Production, as well as Homebuilder Confidence.

The strategy of the new U.S. Government at the Mexico border is creating tension. The report that more than 4000 children are stuck in the border is inviting criticism for the Biden administration.

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

Asian shares finished mostly up, while European shares are trading broadly positive.

As of 7.55 am ET, the Dow futures were sliding 9.00 points, the S&P 500 futures were up 4.25 points and the Nasdaq 100 futures were gaining 69.75 points.

The U.S. major averages ended Monday’s session near their best levels of the day. The Dow rose 174.82 points or 0.5 percent to 32,953.46, the Nasdaq jumped 139.84 points or 1.1 percent to 13,459.71 and the S&P 500 climbed 25.60 points or 0.7 percent to 3,968.94.

On the economic front, the Commerce Department’s Retail Sales for February will be released at 8.30 am ET. The consensus is for a decline of 0.5 percent, while it was up 5.3 percent in the previous month.

The Labor Department’s Import and Export Prices for February will be issued at 8.30 am ET. The consensus for import price is up 1.0 percent, while it was up 1.4 percent in the previous month. The projection for import prices is up 1.9 percent, compared to 0.9 percent in the prior month.

The Redbook data for the week will be published at 8.55 am ET. In the prior week, the Store sales were up 8.0 percent.

Industrial Production for February will be revealed at 9.15 am ET. The consensus is for 0.5 percent, while it was up 0.9 percent in the previous month.

Business Inventories for January will be scheduled at 10.00 am ET. The consensus is for 0.3 percent, while it was up 0.6 percent.

Wells Fargo’s Housing Market Index for March will be at 10.00 am ET. The consensus is for 83, while it was up 84.

Twenty-year Treasury Bond Auction will be issued at 1.00 pm ET.

Asian stocks finished broadly higher on Tuesday. Chinese stocks recovered some ground. The benchmark Shanghai Composite climbed 26.79 points, or 0.78 percent, to 3,446.73. Hong Kong’s Hang Seng index ended up 0.67 percent at 29,027.69.

Japanese shares rose. The Nikkei average rose 154.12 points, or 0.52 percent, to 29,921.09, while the broader Topix index closed 0.65 percent higher at 1,981.50, its highest close since May 14, 1991.

Australian markets advanced. The benchmark S&P/ASX 200 index jumped 54.10 points, or 0.80 percent, to 6,827.10. The broader All Ordinaries index ended up 59.90 points, or 0.85 percent, at 7,079.

European shares are trading mostly higher. Among the major indexes in the region, the German DAX is gaining 95.47 points or 0.66 percent, the U.K. FTSE 100 Index is progressing 58.04 points or 0.86 percent.

The Swiss Market Index is adding 60.39 points or 0.56 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.45 percent.