Trading this week might be impacted by reaction to key economic data, such as retail sales, industrial production, housing starts, and regional manufacturing activity.
U.S. President Joe Biden and Chinese President Xi Jinping will exchange views on bilateral and international issues during the virtual meet this week.
Early signs from the U.S. Futures Index suggest that Wall Street might open positive.
Asian shares finished mostly up, while European shares are trading broadly higher.
As of 7.00 am ET, the Dow futures were up 103.00 points, the S&P 500 futures were adding 11.00 points and the Nasdaq 100 futures were progressing 41.00 points.
The U.S. major averages closed firmly positive on Monday. The Dow rose 179.08 points or 0.5 percent to 36,100.31, the Nasdaq jumped 156.68 points or 1 percent to 15,860.96 and the S&P 500 climbed 33.58 points or 0.7 percent to 4,682.85.
On the economic front, the Federal Reserve Bank of New York’s Empire State Manufacturing Index for November will be published at 8.30 am ET. The consensus is for 22.7, while it was up 19.8 in the prior month.
Asian stocks ended broadly higher on Monday. Chinese shares ended slightly lower. The benchmark Shanghai Composite index slipped 5.80 points, or 0.16 percent, to settle at 3,533.30 while Hong Kong’s Hang Seng index ended up 62.94 points, or 0.25 percent, at 25,390.91.
Japanese shares advanced. The Nikkei average gained 166.83 points, or 0.56 percent, to 29,776.80, while the broader Topix index closed 0.39 percent higher at 2,048.52.
Australian markets rose as Chinese economic data surprised on the high side. The benchmark S&P/ASX 200 index inched up 27.10 points, or 0.36 percent, to 7,470.10, while the broader All Ordinaries index ended up 32.40 points, or 0.42 percent, at 7,798.20.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 28.75 points or 0.41 percent. The German DAX is adding 11.52 points or 0.07 percent, the U.K. FTSE 100 Index is sliding 14.34 points or 0.20 percent.
The Swiss Market Index is adding 4.28 points or 0.03 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.11 percent.
Business News
Wall Street Targets Positive Open Ahead Of Virtual U.S.-China Summit
2021-11-15 12:19:50
