Reports on retail sales, industrial production, import and export prices, and housing starts might get market attention this week. Earnings reports from the major corporates such as Goldman Sachs (GS), Bank of America (BAC), Morgan Stanley (MS), UnitedHealth (UNH), Netflix (NFLX), and American Express (AXP) are also much awaited.
The Republican National Convention, just after the assassination attempt on Trump, will be held in Milwaukee on Monday and will officially nominate Trump as its candidate for the Presidential election in November. His running mate also will be decided at the convention.
In the Asian trading session, gold fell toward $2,400 per ounce, while oil prices were largely unchanged.
Early trends on the U.S.Futures Index suggest that Wall Street might open positive on Monday.
As of 8.00 am ET, the Dow futures were adding 211.00 points, the S&P 500 futures were gaining 21.75 points and the Nasdaq 100 futures were progressing 90.50 points.
The U.S. major averages finished firmly positive on Friday. The Dow advanced 247.15 points or 0.6 percent to 40,000.90, the Nasdaq climbed 115.04 points or 0.6 percent to 18,398.45 and the S&P 500 rose 30.81 points or 0.6 percent to 5,615.35.
On the Economic front, the Empire State Manufacturing Index for July will be issued at 8.30 am ET. The consensus is for minus 6.0, while it was minus 6.0 in the prior month.
The six-month Treasury bill auction will be held at 11.30 am ET.
Fed Chairman Jerome Powell will participate in the interview hosted by the Economic Club of Washington at 12.00 pm ET.
San Francisco Fed President Mary Daly will participate in the session, ‘The Bull, the Bear, and the Banker’ before the Fortune Brainstorm Tech 2024 at 4.35 pm ET.
Asian stocks ended mixed on Monday. Japanese markets were closed for a public holiday. China’s Shanghai Composite index ended a choppy session marginally higher at 2,974.01.
Hong Kong’s Hang Seng index tumbled 1.52 percent to 18,015.94.
Australian markets rose notably to hit record highs. The benchmark S&P/ASX 200 jumped 0.73 percent to 8,017.60 while the broader All Ordinaries index closed up 0.69 percent at 8,262.40.
European shares are trading mostly lower. The major indexes in the region, the CAC 40 Index of France is declining 55.28 points or 0.22 percent. The German DAX is down 70.92 points or 0.38 percent, the U.K. FTSE 100 Index is sliding 27.95 points or 0.34 percent.
The Swiss Market Index is adding 14.36 points or 0.12 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.44 percent.
Business News
Wall Street Set To Open Positive
2024-07-15 12:25:05
