Wall Street Aims To Open Moderately Positive

Major corporates are set for announcing their quarterly results this week. General Electric (GE), UPS (UPS), Alphabet (GOOGL), Coca-Cola (KO), General Motors (GM), McDonald’s (MCD), Ford (F), Amazon (AMZN), Apple (APPL), and Exxon Mobil (XOM) are just a few of the companies due to report their results next week.

Reaction to reports on new home sales, consumer confidence, durable goods orders, and personal income and spending this week also might get special attention.

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

Asian shares finished mixed, while European shares are trading mostly lower.

As of 7.45 am ET, the Dow futures were up 8.00 points, the S&P 500 futures were adding 5.50 points and the Nasdaq 100 futures were progressing 44.75 points.

The U.S. majors finished mostly lower on Friday. The Dow fluctuated over the course of the session but ended the day up 73.94 points or 0.2 percent at 35,677.02.
Meanwhile, the Nasdaq slid 125.50 points or 0.8 percent to 15,090.20 and the S&P 500 edged down 4.88 points or 0.1 percent to 4,544.90 after ending Thursday’s trading at a record closing high.

On the Economic front, Chicago Fed National Activity Index for September is scheduled at 8.30 am ET. In the prior month, the Index was at 0.29.

Dallas Fed Manufacturing Survey for October will be published at 10.30 am ET. The consensus is for 4.9, while it was up 4.6 in the prior month.

A six-month treasury bill auction will be held at 11.30 am ET.

Asian stocks turned in a mixed performance on Monday. Chinese shares rose after China Evergrande said it had resumed work on more than 10 real estate projects in six cities. The benchmark Shanghai Composite index inched up 27.26 points, or 0.76 percent, to finish at 3,609.86.

Hong Kong’s Hang Seng index ended on a flat note. Japanese shares fell. The Nikkei average dropped 204.44 points, or 0.71 percent, to 28,600.41 while the broader Topix index closed 0.34 percent lower at 1,995.42.

Australian markets eked out modest gains as strong commodity prices helped limit mining and energy stocks. The benchmark S&P/ASX 200 index inched up 25.50 points, or 0.34 percent, to 7,441, while the broader All Ordinaries index ended up 27.50 points, or 0.36 percent, at 7,754.30.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 12.32 points or 0.18 percent. The German DAX is adding 44.19 points or 0.28 percent, the U.K. FTSE 100 Index is gaining 23.79 points or 0.33 percent.

The Swiss Market Index is losing 29.15 points or 0.24 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.079 percent.

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