Traders’ focus on Tuesday will be a two-day monetary policy meeting and economic announcements such as Fed’s statement. The Labor Department’s monthly jobs report is expected this week.
Early cues from the U.S. Futures Index suggest that Wall Street might open higher.
Asian shares finished positive, while European shares are trading up.
As of 7.50 am ET, the Dow futures were gaining 204.00 points, the S&P 500 futures were adding 36.75 points and the Nasdaq 100 futures were up 136.25 points.
The U.S. major averages all ended on a negative note on Monday but still managed to post monthly gains after recording losses in the previous two months.
The Dow ended the session with a loss of 128.85 points or 0.39 percent at 32,732.95. The S&P 500 settled with a loss of 29.08 points or 0.75 percent at 3,871.98, while the Nasdaq dropped 114.31 points or 1.03 percent to settle at 10,988.15.
On the economic front, the ISM Manufacturing Index for October will be released at 10.00 am ET. The consensus is for 50, while it was up 50.9.
Construction Spending for September will be issued at 10.00 am ET. The consensus is for a decline of 0.5 percent, while it was down 0.7 percent in the previous month.
The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS for September will be revealed at 10.00 am ET. The consensus is 9.875 million, while it was up 10.053 million in the prior quarter.
In the corporate sector, Uber Technologies, Inc. reported net loss for the third quarter, narrower than the previous year on a surge in revenues.
Asian stocks advanced on Tuesday. Chinese shares gained today. The benchmark Shanghai Composite index jumped 2.62 percent to 2,969.20. Hong Kong’s Hang Seng index surged 5.23 percent to 15,455.27.
Japanese shares eked out modest gains. The Nikkei average edged up 0.33 percent to 27,678.92 while the broader Topix index gained 0.47 percent to settle at 1,938.50.
Australian markets rallied to close at a seven-week high. The benchmark S&P/ASX 200 climbed 1.65 percent to 6,976.90 while the broader All Ordinaries index closed 1.63 percent higher at 7,169.60.
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Wall Street Set To Bounce Back
2022-11-01 12:12:58