The economic calendar is quiet on Monday. Investors are on evaluating major economic announcements this week, especially the reports on retail sales and industrial production.
Earnings news is also likely to attract attention this week. Major corporates such as Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Johnson & Johnson, UnitedHealth (UNH), Morgan Stanley (MS) and Netflix (NFLX) have scheduled their quarterly earnings reports this week.
Initial trends on the U.S. Futures Index suggest that Wall Street might open broadly up.
As of 8.15 am ET, the Dow futures were down 75.00 points, the S&P 500 futures were adding 10.00 points and the Nasdaq 100 futures were progressing 65.25 points.
The U.S. major averages pulled back off their best levels going into the close but remained firmly positive. The Dow jumped 409.74 points or 1.0 percent to 42,863.86, the S&P 500 climbed 34.96 points or 0.6 percent to 5,815.03 and the Nasdaq rose 60.89 points or 0.3 percent to 18,342.94.
On the economic front, the Minneapolis Fed President Neel Kashkari will participate in a panel discussion at the Central Bank of Argentina’s Money and Banking Conference at 9.00 am ET.
Fed Governor Christopher Waller will speak on the economic outlook before the ‘A 50-Year Retrospective on The Shadow Open Market Committee and Its Role in Monetary Policy’ conference hosted by Stanford University at 3.00 pm ET.
Minneapolis Fed President Neel Kashkari will participate in lecture/fireside chat hosted by the Department of Economics at Torcuato di Tella University at 5.00 pm ET.
Asian stocks ended mixed in thin trade on Monday. China’s Shanghai Composite index ended 2.07 percent higher at 3,284.32. Hong Kong’s Hang Seng index settled 0.75 percent lower at 21,092.87.
Japanese markets were closed for a holiday.
Australian markets eked out modest gains to end near two-week highs. The benchmark S&P/ASX 200 rose 0.47 percent to 8,252.80 while the broader All Ordinaries index closed 0.45 percent higher at 8,529.50.
Business News
Wall Street Might Open Broadly Positive
2024-10-14 12:42:13
