Wall Street Might Bounce Back At Open
Economic data might be the major highlight this week. Durable Goods orders, Consumer Confidence, and Manufacturing and Service sector activity reports might get special attention.
European Commission president Ursula von der Layen and UK Prime Minister Rishi Sunak reportedly agreed to a deal for trade arrangements for Northern Ireland.
Early signs from the U.S. Futures Index suggest that Wall Street might open positive.
Asian shares finished in negative territory and European shares are trading higher.
As of 7.10 am ET, the Dow futures were up 149.00 points, the S&P 500 futures were adding 21.00 points and the Nasdaq 100 futures were progressing 76.75 points.
The U.S. major averages all posted steep losses on Friday. The Dow slumped 336.99 points or 1.0 percent to 32,816.92, the Nasdaq plunged 195.46 points or 1.7 percent to 11,394.94 and the S&P 500 tumbled 42.28 points or 1.1 percent to 3,970.04.
On the economic front, the Commerce Department’s Durable Goods Orders for January will be held at 8.30 am ET. The consensus is for a decline of 4.0 percent, while it was up 5.6 percent in the previous month.
The National Association of Realtors’ Pending Home Sales Index for January will be issued at 10.00 am ET. The consensus is for an increase of 1.0 percent, while it was up 2.5 percent in December.
The Dallas Fed Manufacturing Survey for February is scheduled at 10.30 am ET. The consensus is for a decline of 9.0, while it was down 8.4 in the prior month.
Six-month Treasury bills auction will be held at 11.30 am ET.
In the corporate sector, BioMarin Pharmaceutical, Groupon, Medical, Instruments, Nektar Therapeutics, Occidental Petro, ONEOK, PRA Group, ProAssurance, Range Resources, Universal Health, Workday are the corporate companies that have scheduled their quarterly results today.
Asian stocks were down at the closing on Monday. Chinese shares finished a tad lower.
The benchmark Shanghai Composite index slid 0.28 percent to 3,258.03 while Hong Kong’s Hang Seng index ended 0.33 percent lower at 19,943.51.
Japanese shares fell slightly. The Nikkei average slipped 0.11 percent to 27,423.96 while the broader Topix index closed 0.22 percent higher at 1,992.78.
Australian markets finished lower. Australia’s benchmark S&P/ASX 200 fell 1.12 percent to 7,224.80. The broader All Ordinaries index closed 1.24 percent lower at 7.419.60.
European shares are trading higher. CAC 40 of France is gaining 114.55 points or 1.59 percent. DAX of Germany is adding 231.65 points or 1.53 percent. FTSE 100 of England is progressing 61.61 points or 0.78 percent. The Swiss Market Index is up 71.36 points or 0.64 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.85 percent.
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