As there are not many economic announcements, investors might be looking for geopolitical cues on Monday. Early signs from the U.S. Futures Index suggest that Wall Street might open moderately up on Monday.
As of 8.00 am ET, the Dow futures were at 0.00 points, the S&P 500 futures were adding 12.00 points and the Nasdaq 100 futures were progressing 95.00 points.
The U.S. major averages finished higher on Friday. The Dow surged 574.84 points or 1.5 percent to 38,686.32, while the S&P 500 advanced 42.03 points or 0.8 percent to 5,277.51.
The tech-heavy Nasdaq ended down 2.06 points at 16,735.02.
On the economic front, the PMI Manufacturing Final for May will be published at 9.45 am ET. The consensus is 50.9, while it was at 50.0 in the prior month.
ISM Manufacturing Index for May will be issued at 10.00 am ET. The consensus is 49.8, while it was up 49.2 in the prior month.
The Construction Spending for April will be released at 10.00 am ET. The consensus is for an increase of 0.2 percent, while it was down 0.2 percent in the prior month.
The Six-month Treasury bill auction will be held at 11.30 am ET.
The Asian stocks rallied on Monday. Chinese shares ended slightly lower. The benchmark Shanghai Composite index dropped 0.27 percent to 3,078.49. Hong Kong’s Hang Seng index jumped 1.79 percent to 18,403.04.
Japanese markets rose sharply. The Nikkei average climbed 1.13 percent to 38,923.03 while the broader Topix index settled 0.92 percent higher at 2,798.07.
Australian stocks rose notably. The benchmark S&P/ASX 200 rose 0.77 percent to 7,761. The broader All Ordinaries index closed 0.67 percent higher at 8,024.10.
Business News
Wall Street Might Open Moderately Up
2024-06-03 12:23:25
