Wall Street Set To Open Positive

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

Empire State Mfg Survey for August as well as Wells Fargo’s Housing Market Index for August are major economic announcements the day.

Asia shares finished higher, while European shares are broadly positive.

As of 7.30 am ET, the Dow futures were up 67.00 points, the S&P 500 futures were adding 11.00 points and the Nasdaq 100 futures were progressing 78.00 points.

The U.S. major indices ended higher on Friday. The Dow inched up 34.30 points or 0.1 percent to 27,931.02, the Nasdaq dipped 23.20 points or 0.2 percent to 11,019.30, and the S&P 500 edged down 0.58 points or less than a tenth of a percent to 3,372.85.

On the economic front, the Empire State Mfg Survey for August will be announced at 8.30 am ET. The consensus is for 17.0, compared to 17.2 in the prior month.

National Association of Home Builders/Wells Fargo’s Housing Market Index for August will be issued at 10.00 am ET. The consensus is for 72.

Asian stocks ended mostly higher on Monday.

China’s Shanghai Composite index jumped as much as 78.70 points, or 2.34 percent, to 3,438.80 after the People’s Bank of China injected liquidity into the financial system. Hong Kong’s Hang Seng index rose 0.65 percent to 25,347.34.

Japanese shares fell on Monday. The Nikkei average shed 192.61 points, or 0.83 percent, to close at 23,096.75, while the broader Topix index ended 0.84 percent lower at 1,609.82.

Japan’s gross domestic product plummeted.

Australian stocks fell notably as Victoria recorded 25 deaths overnight. The benchmark S&P/ASX 200 index dropped 49.80 points, or 0.81 percent, to 6,076.40, while the broader All Ordinaries index ended down 43.20 points, or 0.69 percent, at 6,218.50.

European shares are trading higher. CAC 40 of France is adding 3.27 points or 0.07 percent. DAX of Germany is gaining 28.13 points or 0.22 percent. FTSE 100 of England is progressing 33.40 points or 0.54 percent. Swiss Market Index is up 43.92 points or 0.43 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.022 percent.

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