Wall Street Set To Open Positive
The Labor Department’s report on producer prices in the month of October might be the highlight on Tuesday.
Asian shares finished mixed, while European shares are trading positive.
Early cues from the U.S. Futures Index suggest that Wall Street might open broadly up.
As of 6.40 am ET, the Dow futures were down 22.00 points, the S&P 500 futures were adding 1.75 points and the Nasdaq 100 futures were progressing 32.25 points.
The U.S. major averages once again finished the session at new record closing highs on Monday. The Dow rose 104.27 points or 0.3 percent to 36,432.22, the Nasdaq inched up 10.77 points or 0.1 percent to 15,982.36 and the S&P 500 edged up 4.17 points or 0.1 percent to 4,701.70.
On the economic front, the Labor Department’s Producer Price Index or PPI for October will be published at 8.30 am ET. The consensus is for an increase of 0.6 percent while it was up 0.5 percent in the prior month.
The Redbook, a weekly measure of comparable store sales at chain stores, discounters, and department stores, for the week will be issued at 8.55 am ET. In the prior week, the store sales were up 15.7 percent.
A ten-year Treasury Note auction will be held at 1.00 pm ET.
St. Louis Federal Reserve Bank President James Bullard will give remarks and participates virtually before the UBS European Conference Central Banking Panel at 7.50 am ET.
Federal Reserve Chairman Jerome Powell to give opening remarks before virtual Conference on Diversity and Inclusion in Economics, Finance and Central Banking co-hosted by the Federal Reserve Board, Bank of Canada, Bank of England, and European Central Bank at 9.00 am ET.
San Francisco Federal Reserve Bank President Mary Daly to speak virtually before the National Association for Business Economics at 11.35 am ET.
Minneapolis Federal Reserve Bank President Neel Kashkari to participate in virtual moderated question-and-answer session before a Eau Clare Chamber of Commerce Economic Outlook Luncheon Town Hal at 1.30 pm ET.
Asian stocks ended mixed on Tuesday. Chinese shares ended slightly higher. The benchmark Shanghai Composite index rose 8.37 points, or 0.24 percent, to 3,507 while Hong Kong’s Hang Seng index ended up 49.36 points, or 0.20 percent, at 24,813.13.
Japanese shares ended lower for the third straight session. The Nikkei average slid 221.59 points, or 0.75 percent, to 29,285.46, while the broader Topix index closed 0.81 percent lower at 2,018.77.
Australian markets ended a choppy session lower. The benchmark S&P/ASX 200 index ended the session down 18 points, or 0.24 percent, at 7,434.20, while the broader All Ordinaries index dropped 11.60 points, or 0.15 percent, to 7,756.30.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 22.83 points or 0.32 percent. The German DAX is adding 35.63 points or 0.23 percent, the U.K. FTSE 100 Index is gaining 9.80 points or 0.13 percent.
The Swiss Market Index is adding 41.40 points or 0.34 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.17 percent.
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