Reaction to the latest economic data as well as quarterly earnings might be the focus on Tuesday.
Industrial production and homebuilder confidence are the major announcements on the day.
Netflix has scheduled to report today after the bell. Omnicom, United Airlines and First Horizon also will be reporting their quarterly results.
As of 7.55 am ET, the Dow futures were up 499.00 points, the S&P 500 futures were adding 68.75 points and the Nasdaq 100 futures were progressing 229.75 points.
The U.S. major averages finished positive on Monday. The Nasdaq surged 354.41 points or 3.4 percent to 10,675.80, the S&P 500 shot up 94.88 points or 2.7 percent to 3,677.95 and the Dow jumped 550.99 points or 1.9 percent to 30,185.82.
On the economic front, the Fed’s Industrial Production for September will be released at 9.15 am ET. The consensus for industrial production is an increase of 0.1 percent, while it was down 0.2 percent in the prior month. Manufacturing output is expected to increase 0.2 percent, while it was up 0.1 percent in August.
Housing Market Index for October will be issued at 10.00 am ET. The consensus is 44, while it was up 46 in September.
Treasury International Capital for August will be published at 4.00 pm ET. In the prior month, the transactions were $21.4 billion.
Atlanta Federal Reserve Bank President Raphael Bostic will participate in a virtual panel discussion at WorkRise conference at 2.00 pm ET.
Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a panel on the economy and question-and-answer session before the Women Corporate Directors Minnesota Chapter at 5.30 pm ET.
Asian stocks ended broadly higher on Tuesday. China’s Shanghai Composite index slipped 0.13 percent to 3,080.96.
Japanese markets were positive. The Nikkei average climbed 1.42 percent to 27,156.14 while the broader Topix index closed 1.16 percent higher at 1,901.44.
Australian markets advanced on the day. The benchmark S&P/ASX 200 rallied 1.72 percent to 6,779.20. The broader All Ordinaries index closed up 1.78 percent at 6,976.20.
European shares are trading higher. CAC 40 of France is gaining 69.40 points or 1.15 percent. DAX of Germany is progressing 197.31 points or 1.56 percent. FTSE 100 of England is adding 79.79 points or 1.15 percent. The Swiss Market Index is up 98.24 points or 0.94 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.45 percent.
Business News
Wall Street Aims To Open Significantly Positive, Earnings To Get Special Attention
2022-10-18 12:18:12
