Wall Street Target To Open Significantly Higher

Factory Orders, Job Openings, and Labor Turnover Survey might be the major highlights on Tuesday. Fed speeches also will get attention.

Early signs from the U.S. Futures Index suggest that Wall Street might open higher.
Asian shares finished broadly up and European shares are progressing.

As of 7.40 am ET, the Dow futures were up 386.00 points, the S&P 500 futures were adding 60.00 points and the Nasdaq 100 futures were progressing 228.25 points.

The U.S major averages all ended sharply higher on Monday. The Dow surged 765.38 points or 2.66 percent to settle at 29,490.89, recording its best single-session gain in over seven months. The S&P 500 climbed 92.81 points or 2.59 percent to 3,678.43, while the Nasdaq advanced 239.82 points or 2.27 percent to 10,815.43.

On the economic front, the Commerce Department’s Factory Orders for August will be released at 10.00 am ET. The consensus is 0.2 percent, while it was down 1.0 percent in the prior month.

The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS will be published at 10.00 am ET. The consensus is 11.150 million, while it was up 11.239 million a year ago.

Dallas Federal Reserve Bank President Lorie Logan will give welcome remarks before the 2022 Technology-Enabled Disruption conference, hosted by the Federal Reserve Banks of Atlanta, Richmond, and Dallas at 9.00 am ET.

Federal Reserve Board Governor Philip Jefferson will speak on Technology’s Impact on the Post-Pandemic Economy before the 2022 TED conference at 11.45 am ET.

New York Federal Reserve Bank President John Williams will give opening and closing remarks before Webinar hosted by the Federal Reserve Bank of New York at 9.00am ET.

Cleveland Federal Reserve Bank President Loretta Mester to speak on Payments before the Federal Reserve Bank of Chicago Payments Symposium at 9.15 am ET.

San Francisco Federal Reserve Bank President Mary Daly will participate in fireside chat before a hybrid event at the Council on Foreign Relations at 1.00 pm ET.
Asian shares climbed on Tuesday.

Japanese shares finished higher. The Nikkei average jumped 2.96 percent to 26,992.21, marking its biggest daily gain since March 23 and the highest close since Sept. 22.
The broader Topix index ended 3.21 percent higher at 1,906.89 in its sharpest daily gain since March 10.

Australian markets gained at the close. The benchmark S&P/ASX 200 jumped 3.75 percent to 6,699.30 while the broader All Ordinaries index closed 3.74 percent higher at 6,905.30.

European shares are trading higher. CAC 40 of France is progressing 199.71 points or 3.45 percent. DAX of Germany is adding 349.30 points or 2.86 percent. FTSE 100 of England is progressing 129.81 points or 1.87 percent. Swiss Market Index is up 251.90 points or 2.45 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 3.39 percent.

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