Futures Point To Positive Open For Wall Street
The new CORONA-19 virus omicron variant is a matter of concern across the globe and investors are alert to further spread and risk factors. The markets might be reacting to the new infection reports as well as economic announcements, such as monthly Job Reports this week.
Asian markets closed mostly lower on Friday. European shares are trading positive.
Early signs from the U.S. Futures Index suggest that Wall Street might open higher.
As of 7.10 am ET, the Dow futures were up187.00 points, the S&P 500 futures were adding 32.75 points and the Nasdaq 100 futures were progressing 137.25 points.
The U.S. major averages all finished Monday sharply lower. The Dow tumbled 905.04 points or 2.5 percent to 34,899.34, the Nasdaq slumped 353.57 points or 2.2 percent to 15,491.66 and the S&P 500 sank 106.84 points or 2.3 percent to 4,594.63.
On the economic front, the National Association of Realtors’ Pending Home Sales Index for October will be held at 10.00 am ET. The consensus is for an increase of 0.7 percent, while it was down 2.3 percent in the prior month was 10.00 am ET.
The Federal Reserve Bank of Dallas’ Manufacturing Survey for November will be released at 10.30 am ET. The consensus is for 19.5, while it was at 14.6 in the previous month.
A six-month Treasury bill auction will be held at 11.30 am ET.
New York Federal Reserve Bank President John Williams will speak to a virtual event to launch the New York Innovation Center, a strategic partnership with the Bank for International Settlements Innovation Hub at 3.00 pm ET.
Asian stocks ended weak on Monday on Omicron Coronavirus worries.
Chinese stocks recovered lost ground and settled roughly flat. The Shanghai Composite Index ended down 0.04% at 3,562.70, well off the day’s low of 3,526.35.
Hong Kong’s Hang Seng declined 0.95% and Taiwan’s Weighted Average ended 0.24% down.
The Australian market ended weak with its benchmark S&P/ASX 200 settling at a 20-day low at 7,239.80, losing 39.50 points or 0.54%.
The Japanese market ended sharply lower. The benchmark Nikkei 225 ended 1.63% down, weighed down by losses in transport, real estate, and paper & pulp sections.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 59.41 points or 0.88 percent. The German DAX is adding 72.70 points or 0.48 percent, the U.K. FTSE 100 Index is gaining 75.31 points or 1.07 percent.
The Swiss Market Index is adding 28.20 points or 0.22 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.79 percent.
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