Futures Point To Positive Open For Wall Street

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

Asian shares finished mostly up, while European shares are trading broadly higher.

As of 7.55 am ET, the Dow futures were up 161.00 points, the S&P 500 futures were adding 19.75 points and the Nasdaq 100 futures were progressing 74.25 points.

The U.S. major averages finished lower. The Dow ended the session down 31.31 points or 0.1 percent at 39,282.33. The Nasdaq also fell 68.77 points or 0.4 percent to 16,315.70 and the S&P 500 dipped 14.61 points or 0.3 percent to 5,203.58.

On the economic front, the Energy Information Administration or EIA’s Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week, the crude oil inventories were down 2.0 million barrels and gasoline inventories were down 3.3 million barrels.

The Survey of Business Uncertainty for March will be revealed at 11.00 am ET. In the prior month, sales growth was up 3.94 percent and the employment growth was up 4.14 percent.

Two-year Floating Rate Note or FRN auction and seven-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks ended mixed in a holiday-shortened week on Wednesday. Chinese markets ended deep in the red.

China’s Shanghai Composite index fell 1.26 percent to 2,993.14. Hong Kong’s Hang Seng index tumbled 1.36 percent to 16,392.84.

Japanese markets logged strong gains. The Nikkei average jumped 0.90 percent to 40,762.73. The broader Topix index climbed 0.66 percent to 2,799.28.

Australian markets ended on a positive note. The benchmark S&P/ASX 200 rose 0.51 percent to 7,819.60. The broader All Ordinaries index settled 0.46 percent higher at 8,073.60.

European shares are trading mostly higher. CAC 40 of France is gaining 21.54 points or 0.26 percent. DAX of Germany is adding 85.37 points or 0.46 percent. FTSE 100 of England is down 85.37 points or 0.46 percent. The Swiss Market Index is up 31.66 points or 0.70 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.40 percent.

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