The NYSE will have a shortened trading session on Monday and will close at 1.00 pm. Trading activity today might be subdued. Investors are looking ahead to the release of the Federal Open Market Committee or FOMC minutes on Wednesday afternoon and the closely watched monthly jobs report on Friday.
Early trends on the U.S. Futures Index suggest that Wall Street might open broadly up.
Asian shares finished up and European shares are trading positive.
As of 7.15 am ET, the Dow futures were down 46.00 points, the S&P 500 futures were at 0.00 points and the Nasdaq 100 futures were progressing 17.00 points.
The U.S. major averages closed Friday with strong gains. The Nasdaq surged 196.59 points or 1.5 percent to 13,787.92, the S&P 500 jumped 53.94 points or 1.2 percent to 4,450.38 and the Dow climbed 285.18 points or 0.8 percent to 34,407.60.
On the economic front, the Purchasing Managers’ Manufacturing Index or PMI for June will be issued at 9.45 am ET. The consensus is 46.3.
The Institute for Supply Management or ISM Manufacturing Index for June will be released at 10.00 am ET. The consensus is 47.3, while it was up 46.9 in the prior month.
The Commerce Department’s Construction Spending for May will be published at 10.00 am ET. The consensus is up 0.5 percent, while it grew 1.2 percent in April.
Asian stocks rallied on Monday. Chinese shares posted strong gains. The benchmark Shanghai Composite index climbed 1.31 percent to 3,243.98.
Hong Kong’s Hang Seng index jumped 2.06 percent to 19,306.59.
Japanese shares posted strong gains. The Nikkei average soared 1.70 percent to 33,753.33, marking a fresh 33-year high. The broader Topix index settled 1.41 percent higher at 2,320.81.
Australian markets rose notably. The benchmark S&P/ASX 200 rose 0.59 percent to 7,246.10 while the broader All Ordinaries index ended 0.56 percent higher at 7,442.80.
European shares are trading mostly higher. CAC 40 of France is gaining 14.47 points or 0.20 percent. DAX of Germany is declining 3.42 points or 0.02 percent. FTSE 100 of England is progressing 24.35 points or 0.32 percent. The Swiss Market Index is up 24.77 points or 0.22 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.34 percent.
Business News
Wall Street Aims To Open Broadly Up
2023-07-03 11:40:07
