Wall Street Set To Open Higher

Earnings reports might be the highlight on Monday. Asian shares finished mostly lower, while European shares are trading broadly up.

Major economic announcements such as Personal Income and Spending, Durable Goods Orders and Fourth quarter GDP are scheduled this week.

Early signs from the U.S. Futures Index suggest that Wall Street might open positive.

As of 7.40 am ET, the Dow futures were up 74.00 points, the S&P 500 futures were adding 19.25 points and the Nasdaq 100 futures were progressing 133.25 points.

The U.S. major averages closed firmly in positive territory on Friday. The Nasdaq spiked 255.32 points or 1.7 percent to 15,310.97, the S&P 500 surged 58.87 points or 1.2 percent to 4,839.81 and the Dow jumped 395.19 points or 1.1 percent to 37,863.80.
On the economic front, the Leading Indicators for December will be issued at 10.00 am ET. The consensus is for a decline of 0.3 percent, while it was down 0.5 percent in the prior month.

The six-month Treasury bill auction will be held at 11.30 am ET.

Asian stocks ended Monday’s session on a mixed note. Chinese stocks fell to multi-year. The benchmark Shanghai Composite index tumbled 2.68 percent to 2,756.34. Hong Kong’s Hang Seng index slumped 2.27 percent to 14,961.18.

Japanese shares rallied. The Nikkei average soared 1.62 percent to 36,546.95. The broader Topix index settled 1.39 percent higher at 2,544.92.

Australian markets rose notably. The benchmark S&P/ASX 200 climbed 0.75 percent to 7,476.60 while the broader All Ordinaries index closed 0.65 percent higher at 7,702.30.

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