Manufacturing and service sector activity, factory orders, and the U.S. trade deficit might be the focus this week. The latest batch of quarterly earnings news by be the highlight on Monday.
Asian shares finished higher, while European shares are trading positive.
Initial signs from the U.S. Futures Index suggest that Wall Street might open higher.
As of 7.55 am ET, the Dow futures were adding 116.00 points, the S&P 500 futures were down 17.25 points and the Nasdaq 100 futures were sliding 47.50 points.
The U.S. major averages all finished Friday firmly in negative territory. The Dow fell 149.06 points or 0.4 percent to 34,935.47, the Nasdaq slid 105.59 points or 0.7 percent to 14,672.68 and the S&P 500 dropped 23.89 points or 0.5 percent to 4,395.26.
On the economic front, HIS Markit’s PMI Manufacturing Final for July will be published at 9.45 am ET. The consensus is for 63.1, while it was up 62.1 in the prior month.
ISM Manufacturing Index for July will be issued at 10.00 am ET. The consensus is for 60.8, while it was up 60.6 in the previous month.
The six-month Treasury bill auction will be held at 11.30 am ET.
Asian stocks advanced on Monday. Chinese shares posted strong gains.
China’s Shanghai Composite index climbed 66.93 points, or 1.97 percent, to 3,464.29, while Hong Kong’s Hang Seng index ended up 274.77 points, or 1.06 percent, at 26,235.80.
Japanese shares rallied. The Nikkei average jumped 497.43 points, or 1.82 percent, to 27,781.02, while the broader Topix index settled 2.05 percent higher at 1,940.05.
Australian markets hit a record high. The benchmark S&P/ASX 200 index inched up 98.80 points, or 1.34 percent, to settle at 7,491.40 while the broader All Ordinaries index ended up 96.30 points, or 1.26 percent, at 7,760.50.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 48.31 points or 0.73 percent. The German DAX is adding 16.76 points or 0.11 percent, the U.K. FTSE 100 Index is gaining 50.11 points or 0.72 percent.
The Swiss Market Index is adding 26.05 points or 0.21 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.51 percent.
Wall Street Sees Positive Opening
2021-08-02 12:20:33
