Initial trends on the U.S. Futures Index suggest that Wall Street might open moderately positive.
Inflation data might be the focus this week, with the Labor Department due to release its reports on consumer and producer prices in June. The Congressional testimony by Fed Chair Jerome Powell will get the attention of investors.
In the Asian trading session, oil and gold prices traded lower, while the dollar lingered near three-week lows.
As of 8.05 am ET, the Dow futures were up 29.00 points, the S&P 500 futures were adding 1.75 points and the Nasdaq 100 futures were progressing 13.00 points.
The U.S. major averages finished higher on Friday. The Nasdaq jumped 164.46 points or 0.9 percent to 18,352.76, the S&P 500 climbed 30.17 points or 0.5 percent to 5,567.19 and the Dow rose 67.87 points or 0.2 percent to 39,375.87.
On the economic front, the Fed’s Consumer Credit for May will be released at 3.00 pm ET. The consensus is $8.3 billion, while it was up $6.4 billion in the prior month.
Three-month and 6-month Treasury Bill auction will be held at 11.30 am ET.
Asian stocks declined on Monday. China’s Shanghai Composite Index slid 0.9 percent to 2,922.45. Hong Kong’s Hang Seng Index slumped 1.6 percent to 17,524.06.
Japanese markets retreated from record highs. The Nikkei 225 Index reversed to end the session down 0.3 percent at 40,780.70. The broader Topix Index closed 0.6 percent lower at 2867.61.
Australian markets fell notably. The benchmark S&P/ASX 200 Index dropped 0.8 percent to 7,763.20, while the broader All Ordinaries Index ended down 0.7 percent at 8,012.20.
Business News
Wall Street Aims To Open Moderately Up
2024-07-08 12:30:09
