Wall Street Targets To Open Broadly Up
Corporate earnings reports might be the highlights on Tuesday. Early signs from the U.S. Futures Index suggest that Wall Street might open mostly higher.
Investors anticipate the U.S. Federal Reserve to reduce interest rates later this year.
In the Asian trading session, gold slipped. The oil prices held steady, given the geopolitical developments.
European shares are trading positive, while European shares finished broadly up.
As of 8.00 am ET, the Dow futures were up 33.00 points, the S&P 500 futures were adding 1.50 points and the Nasdaq 100 futures were sliding 28.25 points.
The U.S. major averages finished higher on Monday. The Nasdaq and the S&P 500 closed significantly up, the Nasdaq surged 192.92 points or 1.2 percent to 16,349.25, the S&P 500 jumped 52.95 points or 1.0 percent to 5,180.74 and the Dow climbed 176.59 points or 0.5 percent to 38,862.27.
On the economic front, the 8-week Treasury Bill auction will be held at 11.00 am ET.
Three-year Treasury Note auction will be held at 1.00 pm ET.
The Fed Consumer Credit for March will be released at 3.00 pm ET. The consensus is for $15.5 billion, while it was up $14.1 billion in the prior week.
Minneapolis Fed President Neel Kashkari will participate in a moderated conversation on the economic overview before the Milken Institute 2024 Global Conference 11.30 am ET.
Asian stocks advanced on Tuesday. China’s Shanghai Composite index ended up 0.22 percent at 3,147.74, reversing an early slide. Hong Kong’s Hang Seng index dropped 0.53 percent to 18,479.37.
Japanese markets rallied. The Nikkei average jumped 1.57 percent to 38,835.10. The broader Topix index settled 0.65 percent higher at 2,746.22.
Australian markets saw their biggest gain in three months. The benchmark S&P ASX 200 rose 1.44 percent to 7,793.30 while the broader All Ordinaries index closed up 1.42 percent at 8,065.50.
European shares are trading higher. CAC 40 of France is progressing 24.61 points or 0.31 percent. DAX of Germany is gaining 96.30 points or 0.53 percent. FTSE 100 of England is adding 84.90 points or 1.03 percent. The Swiss Market Index is up 132.40 points or 1.17 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.43 percent.
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