Wall Street Might Open Positive
After a long weekend, the U.S. Futures Index suggests that Wall Street might open higher on Tuesday.
Asian shares finished mixed, while European shares are trading lower.
Investors are keeping a close watch on the COVID-19 situation across the globe.
Meanwhile, U.S. President Joe Biden has set his target of vaccinating at least 70 percent of the population vaccinated by July 4.
In order to remove unnecessary stigma and to make COVID discussions easier, the World Health Organisation has started naming new variants using Greek letters.
As of 7.45 am ET, the Dow futures were adding 233.00 points, the S&P 500 futures were gaining 21.75 points and the Nasdaq 100 futures were progressing 51.00 points.
The U.S. major indexes finished higher on Friday. The Dow closed up by 64.81 points or 0.19 percent at 34,529.45, more than 100 points down from the day’s high. The Nasdaq, which rose to 13,820.87, settled with a gain of 12.46 points or 0.09 percent at 13,748.74, almost at the day’s low. The S&P 500 ended up by 3.23 points or 0.08 percent at 4,204.11.
On the economic front, IHS Markit’s PMI Manufacturing Final for May will be issued at 9.45 am ET. The consensus is for 61.5, while it was up 60.5 in the prior month.
Institute for Supply Management’s Manufacturing Index for May will be published at 10.00 am ET. The consensus is for 60.9, while it was up 60.7 in April.
The Commerce Department’s Construction Spending for April will be released at 10.00 am ET. The consensus is for the increase of 0.6 percent, while it was up 0.2 percent in the prior month.
Dallas Fed Manufacturing Survey for May is scheduled at 10.30 am ET. The consensus is for an increase do 34.5, while it was up 37.3 in the prior month.
Federal Reserve Vice Chair for Supervision Randal Quarles to participate in discussion on the economy and financial regulation before virtual POLITICO Live event at 10.00 am ET.
Federal Reserve Board Governor Lael Brainard will speak on the economic and monetary policy outlook before the virtual Economic Club of New York webinar at 2.00 pm ET.
Asian stocks ended mixed on Tuesday. Chinese shares eked out modest gains. The benchmark Shanghai Composite index rose 9.24 points, or 0.26 percent, to 3,624.71 while Hong Kong’s Hang Seng index climbed 316.20 points or 1.08 percent, to 29,468.
Japanese shares edged lower. The Nikkei average slipped 45.74 points, or 0.16 percent, to 28,814.34, while the broader Topix index closed 0.17 percent higher at 1,926.18.
Australian markets ended slightly lower.
The benchmark S&P/ASX 200 dropped 19 points, or 0.27 percent, to 7,142.60 while the broader All Ordinaries index ended down 14.60 points, or 0.20 percent, at 7,392.10.
European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 25.81 points or 0.43 percent. The German DAX is adding 8.23 points or 0.06 percent, the U.K. FTSE 100 Index is losing 4.88 points or 0.07 percent.
The Swiss Market Index is sliding 16.50 points or 0.15 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.43 percent.
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