Early cues from the U.S. Futures Index point to a moderately higher opening for Wall Street.
Asian stocks ended up, while European shares are trading mostly lower.
Earnings reports, as well as New Home Sales for July, might be the highlight on Tuesday.
As of 8.05 am ET, the Dow futures were up 52.00 points, the S&P 500 futures were adding 6.00 points and the Nasdaq 100 futures were progressing 28.25 points.
The U.S. major averages finished higher. The Dow ended up by 215.63 points or 0.61 percent at 35,335.71. The S&P 500 advanced 37.86 points or 0.85 percent to settle at 4,479.53, while the tech-laden Nasdaq closed stronger by 227.99 points or 1.55 percent at 14,942.65.
On the economic front, the Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be published at 8.55 am ET. In the prior week, the Store sales were up 15 percent.
The Commerce, the Housing and Urban Development department’s New Home Sales for July will be issued at 10.00 am ET. The consensus is for 700k, while it was up 676K in the prior month.
Federal Reserve Bank of Richmond’s Manufacturing Index for August is scheduled at 10.00 am ET. The consensus is 25, while it was at 27 in the previous month.
A two-year Treasury Note Auction will be held at 1.00 pm ET.
The Fed Money Supply for July will be released at 1.00 pm ET. The M2 Money Supply was at $17.0 billion.
Asian stocks rose sharply on Tuesday. Chinese shares rose sharply. The benchmark Shanghai Composite index jumped 37.34 points, or 1.07 percent, to 3,514.47 while Hong Kong’s Hang Seng index ended up 2.46 percent at 25,727.92.
Japanese shares finished higher, with the Nikkei average ending up 237.86 points, or 0.87 percent, at 27,732.10. The broader Topix index closed 1.0 percent higher at 1,934.20.
Australian markets ended higher. The benchmark S&P/ASX 200 index edged up 13.10 points, or 0.17 percent, to 7,503 while the broader All Ordinaries index ended up 12.60 points, or 0.16 percent, at 7,773.70.
European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is down 33.10 points or 0.50 percent. The German DAX is adding 51.91points or 0.33 percent, the U.K. FTSE 100 Index is losing 22.71 points or 0.32 percent.
The Swiss Market Index is declining 44.26 points or 0.35 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.038 percent.
Business News
Futures Point To Moderately Positive Open For Wall Street
2021-08-24 12:25:59
