Reports on Housing Starts and Existing Home Sales might be the highlight on Monday. The Fed decision on monetary policy is expected this week.
Earnings reports also will get special attention. Major corporates such as Bank of America, Goldman Sachs, IBM Corp., Johnson & Johnson, Netflix, Tesla, American Express and Twitter have scheduled earnings reports this week.
Asian shares finished higher, while European shares are also trending up.
Early trends on the U.S. Futures Index suggest that Wall Street might open significantly higher.
As of 7.35 am ET, the Dow futures were up 333.00 points, the S&P 500 futures were adding 39.25 points and the Nasdaq 100 futures were progressing 149.25 points.
The U.S. major averages ended higher on Friday’s session. The Dow spiked 658.09 points or 2.2 percent to 31,288.26, the Nasdaq jumped 201.24 points or 1.8 percent to 11,452.42 and the S&P 500 surged 72.78 points or 1.9 percent to 3,863.16.
On the economic front, the National Association of Home Builders’ Housing Market Index for July is scheduled at 10.00 am ET. The consensus is 66, while it was up 67 in the previous month.
The Treasury International data for May is expected at 4.00 pm ET. In the prior month, the transactions were up $87.7 billion.
Asian stocks advanced on Monday.
Chinese shares reached higher. The benchmark Shanghai Composite index jumped 1.55 percent to close at 3,278.10. Hong Kong’s Hang Seng index soared 2.70 percent to 20,846.18.
Markets in Japan were closed for a holiday.
Australian markets were higher at the close. The benchmark S&P ASX 200 rose 1.23 percent to 6,687.10 while the broader All Ordinaries index closed 1.32 percent higher at 6,888.
European shares are trading higher. CAC 40 of France is up 94.89 points or 1.57 percent. DAX of Germany is gaining 184.57 points or 1.45 percent. FTSE 100 of England is progressing 93.60 points or 1.31 percent. Swiss Market Index is up 125.55 points or 1.14 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is progressing 1.54 percent.
Business News
Wall Street Aims To Open Substantially Higher
2022-07-18 11:59:04
