Quarterly earnings results might be the driving factor on Tuesday. Facebook, Logitech (LOGI), and Universal Health (UHS) are releasing their quarterly results after the close of today’s trading.
Trading on Tuesday may also be impacted by reaction to reports on home prices, new home sales, and consumer confidence.
The FDA’s vaccine advisory board will be meeting today to finalize on COVID-19 vaccine for children of five to 11 years old. If there is a positive response, then the matter will be discussed at CDC’s vaccine advisory group to be held on November 2 and 3.
Early cues from the U.S. Futures Index suggest that Wall Street might open positive.
Asian shares finished mixed, while European shares are trading up.
As of 7.55 am ET, the Dow futures were up 119.00 points, the S&P 500 futures were adding 18.25 points and the Nasdaq 100 futures were progressing 91.00 points.
The U.S. major averages finished higher on Monday. The Nasdaq jumped 136.51 points or 0.9 percent to 15,226.71, the S&P 500 rose 21.58 points or 0.5 percent to 4,566.48 and the Dow edged up 64.13 points or 0.2 percent to 35,741.15.
On the economic front, Case-Schiller Home Price Index for August is scheduled at 9.00 am ET. The consensus is for an increase of 1.3 percent while it was up 1.5 percent in the previous month.
The Redbook for the week will be issued at 8.55 am ET. In the prior week, the store sales were up 15.1 percent.
Case-Shiller Home Price Index for August will be issued at 9.00 am ET. The consensus is for 1.3 percent, while it was up 1.5 percent in the previous month.
The Federal Housing Finance Agency (FHFA) House Price Index or HPI for August will be released at 9.00 am ET. The consensus is for 1.3 percent, while it was up 1.4 percent in July.
The Commerce Department and the Housing and Urban Development Department’s New Home Sales for September will be published at 10.00 am ET. The consensus is for 760K, while it was up 740K in the prior month.
The Conference Board’s Consumer Confidence Index for October will be released at 10.00 am ET. The consensus is for 109.0, while it was up 109.3 in the previous month.
The Richmond Fed Manufacturing Index for October is scheduled at 10.00 am ET. The consensus is for 5, while it was down 3 in the previous month.
A two-year Treasury Note auction will be held at 1.00 pm ET.
The Fed Money Supply for September will be at 1.00 pm ET. In the M2 the supply was $262.7 billion.
Asian stocks ended mixed on Tuesday. Chinese shares ended lower.
The benchmark Shanghai Composite index slid 12.22 points, or 0.34 percent, to 3,597.64 while Hong Kong’s Hang Seng index ended down 93.76 points, or 0.36 percent, at 26,038.27.
Japanese shares rallied on the day. The Nikkei average jumped 505.60 points, or 1.77 percent, to 29,106.01 while the broader Topix index closed 1.15 percent higher at 2,018.40.
Australian shares gave up early gains to end on a flat note.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 47.19 points or 0.70 percent. The German DAX is adding 148.56 points or 0.95 percent, the U.K. FTSE 100 Index is gaining 39.87 points or 0.55 percent.
The Swiss Market Index is adding 27.65 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 0.78 percent.
Business News
Wall Street Targets Positive Open
2021-10-26 12:13:48
