The Housing Starts and Permits data and a couple of Fed talks are the highlights on Tuesday. Geopolitical developments also might be of interest to the market.
Asian shares finished mixed. European shares are trading towards a blended ending.
Early signs on the U.S. Futures Index suggest that Wall Street might open positive.
As of 6.55 am ET, the Dow futures were up 31.00 points, the S&P 500 futures were adding 5.50 points and the Nasdaq 100 futures were progressing 19.75 points.
The U.S. major averages finished higher on Monday. The Dow inched up 0.86 points or less than a tenth of a percent to 37,306.02, the Nasdaq rose 21.37 points or 0.5 percent to 4,740.56 and the S&P 500 climbed 90.89 points or 0.6 percent to 14,904.81.
Stocks continued to benefit from recent upward momentum, which has propelled the Dow to new record highs. The Nasdaq and the S&P 500 have also reached their best levels in nearly two years.
On the economic front, the Housing Starts and Permits data for November will be released at 8.30 am ET. The housing starts consensus is for 1.360 million, while it was up 1.372 million in the prior month. The housing permits consensus is 1.470 million, while it was up 1.487 million in the prior year.
The Treasury International Capital for October is scheduled at 4.00 pm ET. In the prior month, the net long-term securities transactions were down $1.7 billion.
Atlanta Fed President Raphael Bostic to speak on the U.S. economy, outlook for business, and the Federal Reserve’s role before a Harvard Business School Club of Atlanta alumni luncheon at 12.30 pm ET.
Chicago Fed President Austan Goolsbee will participate in live interview on Fox News’s ‘Special Report with Brett Baier’ at 6.00 pm ET.
Asian stocks ended mixed on Tuesday. Chinese shares ended little changed. The benchmark Shanghai Composite finished marginally higher at 2,932.39.
Hong Kong’s Hang Seng index dropped 0.75 percent to 16,505.
Japanese shares posted strong gains on Tuesday. The Nikkei average rallied 1.41 percent to 33,219.39 while the broader Topix index closed 0.73 percent higher at 2,333.81.
Australian markets rose notably. The benchmark S&P ASX 200 jumped 0.84 percent to 7,489.10. The broader All Ordinaries index settled 0.87 percent higher at 7,715.90.
European shares are trading mixed. The CAC 40 Index of France is declining 30.59 points or 0.39 percent. The German DAX is progressing 73.21 points or 0.44 percent, the U.K. FTSE 100 Index is gaining 0.20 points or 0.00 percent.
The Swiss Market Index is adding 12.22 points or 0.11 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.30 percent.
Business News
Futures Point To Moderately Higher Open For Wall Street
2023-12-19 12:17:11
