Wall Street Targets To Open In Positive Territory

The investors are closely monitoring the progress in vaccination across the globe and the progress in the recovery rate.

Initial signs from the U.S. Futures Index suggest that Wall Street might open positive on Tuesday.

Asian shares finished mostly higher, while European shares are trading positive.

As of 7.25 am ET, the Dow futures were gaining 174.00 points, the S&P 500 futures were adding 20.50 points and the Nasdaq 100 futures were progressing 61.50 points.

The U.S. major averages finished lower on Monday. The Dow ended with a loss of 323.54 points or 0.94 percent at 34,002.92. The S&P 500 settled with a loss of 56.58 points or 1.3 percent at 4,300.46, while the tech-laden Nasdaq closed with a loss of 311.21 points or 2.14 percent at 14,255.48, more than 70 points off the session’s low of 14,181.69.

On the economic front, the International Trade in Goods and Services for August will be issued at 8.30 am ET. The consensus is for a deficit of $70.7 billion, while the deficit was $70.1 billion in the previous month.

The Redbook data for the week will be released at 8.55 am ET. In the prior week, the Store Sales were up 16.3 percent.

The IHS Markit’s Purchasing Managers Index or PMI for September is expected at 9.45 am ET. The consensus is for 54.5.

The ISM Services Index for September will be published at 10.00 am ET. The consensus is for an increase of 60.0, while it was up 61.7 in the prior month.

Richmond Federal Reserve Bank President Thomas Barkin to participate in a “Fed Listens” event with local community leaders to discuss how the pandemic has affected the workforce and labor market in the area, with a focus on businesses and families at 10.30 am ET.

Federal Reserve Vice Chair for Supervision Randal Quarles to speak on “LIBOR Transition” before the Structured Finance Association Conference: SFVegas 2021 at 1.15 pm ET.

Asian stocks ended mostly lower on Tuesday. Markets in China remain shut until Friday for the Golden Week holidays. Hong Kong’s Hang Seng index rose 67.78 points, or 0.28 percent, to 24,104.15.

Japanese shares hit one-month low. New Japanese Prime Minister Fumio Kishida’s proposal to raise tax on capital gains also dented sentiment.

The Nikkei average fell 622.77 points, or 2.19 percent, to 27,822.12, while the broader Topix index closed 1.33 percent lower at 1,947.75.

Australian markets ended modestly lower. The benchmark S&P/ASX 200 index ended down 30.10 points, or 0.41 percent, at 7,248.40 after having fallen more than 1 percent earlier in the day in response to index slipped 40.30 points, or 0.53 percent, to 7,536.50.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is adding 55.99 points or 0.86 percent. The German DAX is progressing 62.08 points or 0.40 percent, the U.K. FTSE 100 Index is up 46.97 points or 0.67 percent.

The Swiss Market Index is gaining 0.34 points or 0.01 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.86 percent.

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