Initial trends on the U.S. Futures Index suggest that Wall Street might open broadly up. This week’s trading activity might be subdued due to the Christmas Day holiday on Wednesday.
Asian shares finished mostly up, while European shares are trading broadly higher. In the Asian trading hours, the dollar index held steady, while gold and oil prices were modestly higher.
Investors expect more rate cuts by the U.S. Federal Reserve in 2025.
As of 7.40 am ET, the Dow futures were down 93.00 points, the S&P 500 futures were adding 3.75 points and the Nasdaq 100 futures were progressing 85.00 points.
The U.S. major averages finished positive on Friday. The Dow surged 498.02 points or 1.2 percent to 42,840.26.
The tech-heavy Nasdaq also jumped 199.83 points or 1.0 percent to 19,572.60 and the S&P 500 shot up 63.77 points or 1.1 percent to 5,930.85.
On the economic front, the Chicago Fed National Activity Index for November will be issued at 8.30 am ET. In the prior month, the Index was down 0.40.
The Conference Board’s Consumer Confidence for December will be released at 10.00 am ET. The consensus is for an increase of 113.0, while it was up 111.7 in the prior month.
Two-year Treasury Note auction will be held at 1.00 pm ET.
The 52-week Treasury Bill Auction will be held at 11.30 am ET.
Asian stocks closed higher higher on Monday. China’s Shanghai Composite index ended down half a percent at 3,351.26 after a choppy session. Hong Kong’s Hang Seng index jumped 0.82 percent to 19,883.13.
Japanese markets rose sharply. The Nikkei average rose 1.19 percent to 39,161.34 while the broader Topix index settled 0.92 percent higher at 2,726.74.
Australian stocks bounced back sharply. The benchmark S&P/ASX 200 closed up 1.67 percent at 8,201.60. The broader All Ordinaries index ended up 1.64 percent at 8,452.70 as the RBA meeting minutes loomed.
European shares are trading mostly higher. CAC 40 of France is gaining 13.38 points or 0.18 percent. DAX of Germany is declining 7.44 points or 0.04 percent. FTSE 100 of England is progressing 25.28 points or 0.31 percent. The Swiss Market Index is up 91.99 points or 0.81 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.035 percent.
Business News
Wall Street Poised To Open Broadly Higher
2024-12-23 13:02:45
