Futures Point To Broadly Higher Open For Wall Street

Early signs from the U.S. Futures Index suggest that Wall Street might open mostly higher on Tuesday.

COVID-19 situation across the globe is a point of worry for investors.

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

As of 7.55 am ET, the Dow futures were declining 16.00 points, the S&P 500 futures were gaining 0.50 points and the Nasdaq 100 futures were progressing 43.25 points.

The U.S. major averages all closed in positive territory on Monday. The Dow climbed 126.02 points or 0.4 percent to 34,996.18, the Nasdaq edged up 31.32 points or 0.2 percent to 14,733.24 and the S&P 500 rose 15.08 points or 0.4 percent to 4,384.63.

On the economic front, the Labor Department’s Consumer Price Index for June will be issued at 8.30 am ET. The consensus is for an increase of 0.5 percent, while it was up 0.6 percent in the prior month.

The Redbook report, a weekly measure of comparable store sales at chain stores, discounters, and department stores report, will be published at 8.55 am ET. In the prior week, the Store Sales were up 19.4 percent.

Thirty-year Treasury Bond auction will be held at 1.00 pm ET.

Atlanta Federal Reserve Bank President Raphael Bostic will give opening remarks before virtual “Racism and the Economy: Focus on Criminal Justice” webinar presented by all 12 District Banks of the Federal Reserve System at 12 pm ET.

Minneapolis Federal Reserve Bank President Neel Kashkari to discuss “How Overrepresentation of People of Color and Indigenous People in the Criminal Legal System Compromises the Performance of the Overall Economy” before virtual “Racism and the Economy: Focus on Criminal Justice” webinar presented by all 12 District Banks of the Federal Reserve System at 12.45.

Atlanta Federal Reserve Bank President Raphael Bostic to participate in “Reflections on the Criminal Legal System and the Economy” panel before virtual “Racism and the Economy: Focus on Criminal Justice” webinar presented by all 12 District Banks of the Federal Reserve System at 2.30 pm ET.

Boston Federal Reserve Bank President Eric Rosengren to give closing remarks before virtual “Racism and the Economy: Focus on Criminal Justice” webinar presented by all 12 District Banks of the Federal Reserve System at 2.50 pm ET.

Asian stocks rose on Tuesday. Chinese shares eked out modest gains. The benchmark Shanghai Composite index ended up 18.69 points, or 0.53 percent, at 3,566.52.
Hong Kong’s Hang Seng index climbed 448.17 points, 1.63 percent, to 27,963.41 as tech stocks surged.

Japanese shares advanced. The Nikkei average rose 149.22 points, or 0.52 percent, to 28,718.24, while the broader Topix gained 0.73 percent to close at 1,967.64, marking its highest close since June 16.

Australian shares gave up early gains to end on a flat note.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is declining 4.09 points or 0.06 percent. The German DAX is adding 11.66 points or 0.09 percent, the U.K. FTSE 100 Index is progressing 6.69 points or 0.09 percent.

The Swiss Market Index is declining 27.99 points or 0.23 percent.
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The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.017 percent.

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