Wall Street Set To Open Moderately Positive

Reports on retail sales and industrial production might be the focus on Tuesday.

Asian shares finished mixed, while European shares are trading positive.

Initial trends on the U.S. Futures Index suggest that Wall Street might open positive.

As of 7.12 am ET, the Dow futures were up 64.00 points, the S&P 500 futures were adding 3.00 points and the Nasdaq 100 futures were progressing 9.50 points.

The U.S. major averages finished Monday slightly lower. The Dow slipped 12.86 points to 36,087.45, the Nasdaq dipped 7.11 points to 15,853.85 and the S&P 500 edged down 0.05 points to 4,682.80.

On the economic front, the Commerce Department’s Retail Sales for October will be issued at 8.30 am ET. The consensus is for an increase of 1.0 percent, while it was up 0.7 percent in the prior month.

The Labor Department’s Import and Export Prices for October will be released at 8.30 am ET. The consensus is for an increase of 0.9 percent, while it was up 0.4 percent in September.

The Redbook data, the weekly measure of comparable store sales at chain stores, discounters, and department stores, for the week, is scheduled at 8.55 am ET. In the prior week, the Store sales were 15.6 percent.

The Fed monthly Industrial production for October will be issued at 9.15 am ET. The industrial production consensus is for growth of 0.9 percent, while it was down 1.3 percent in the prior month.

The Commerce Department’s Business Inventories for September will be released at 10.00 am ET. The consensus is for an increase of 0.6 percent, while it was up 0.6 percent in the previous month.

National Association of Home Builders’ Housing Market Index for November will be published at 10.00 am ET. The consensus is 80, while it was up 80 in the prior month.

Treasury International Capital for September is expected at 4.00 pm ET. In the prior month, the transactions were up $79.3 billion.

Atlanta Federal Reserve Bank President Raphael Bostic to participate virtually in panel before the Federal Reserve Racism and the Economy: Focus on Financial Services event at 12.00 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker to speak virtually on Fintech and Financial Inclusion before the Federal Reserve Bank of Philadelphia Fifth Annual Fintech Conference 2.55 pm ET.

San Francisco Federal Reserve Bank President Mary Daly to speak before Commonwealth Club, San Francisco hybrid event at 3.30 pm ET.

Asian stocks ended mixed on Tuesday. Chinese shares ended a tad lower. The benchmark Shanghai Composite index fell 11.52 points, or 0.33 percent, to 3,521.79.

Hong Kong’s Hang Seng index rallied 322.87 points, or 1.27 percent, to 25,713.78 amid policy easing bets as authorities in several mainland provinces appear to have relaxed rules to spur home sales.

Japanese shares ended marginally higher amid a lack of major catalysts. The Nikkei average edged up 31.32 points, or 0.11 percent, to 29,808.12, while the broader Topix index ended 0.11 percent higher at 2,050.83.

Australian markets fell notably. The benchmark S&P/ASX 200 index dropped 49.70 points, or 0.67 percent, to 7,420.40, while the broader All Ordinaries index ended down 51.10 points, or 0.66 percent, at 7,747.10.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 32.29 points or 0.45 percent. The German DAX is adding 81.17 points or 0.50 percent, the U.K. FTSE 100 Index is gaining 12.01 points or 0.17 percent.

The Swiss Market Index is adding 53.54 points or 0.43 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.37 percent.

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