Futures Suggest Wall Street To Open Moderately Up

President-elect Joe Biden’s proposed economic stimulus plan and the move for the impeachment of President Trump continue to get attention. The concerns on the new strain of Covid-19 and global lockdowns are still worrying investors.

Asian shares finished broadly higher, while European shares are trading lower.
Initial signs from the U.S. Futures Point to a moderately positive open. The JOLTS report and a slew of Fed talks will get special attention on Tuesday.

As of 7.35 am ET, the Dow futures were adding 68.00 points, the S&P 500 futures were progressing 10.00 points and the Nasdaq 100 futures were gaining 43.75 points.

The U.S. major averages all ended notably lower on Monday. The Dow, which plunged nearly 270 points in early trades, ended down 89.28 points or 0.29 percent at 31,008.69.

The S&P 500 slid 25.07 points or 0.66 percent to 3,799.61, while the Nasdaq settled at 13,036.43, losing 165.54 points or 1.25 percent.

On the economic front, Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be shares at 8.55 am ET. In the prior week, the Store Sales were up 5.5 percent.

The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS report for November will be released at 10.00 am ET. In the previous month, the Job Openings were up 6.652 million.

Ten-year Treasury Note auction will be held at 1.00 pm ET.

Atlanta Federal Reserve Bank President Raphael Bostic will speak on “Economic Recovery and Addressing Inequality” before virtual Recording of Talks at GS Episode Via Zoom webinar at 11.00 am ET.

Federal Reserve Board Governor Lael Brainard will speak on “Artificial Intelligence and Financial Services” before virtual Federal Reserve Artificial Intelligence Symposium at 9.35 am ET.

Dallas Federal Reserve Bank President Robert Kaplan will give opening remarks and participates in panel before virtual “Racism and the Economy: Focus on Education” event at 11.00 am ET.

Cleveland Federal Reserve Bank President Loretta Mester will participate via videoconference in Distinguished Speakers Seminar, European Economics and Financial Centre in London at 12.00 pm ET.

Asian stocks closed broadly higher on Tuesday. Chinese stocks rebounded from their worst session in three weeks. The benchmark Shanghai Composite index surged 76.84 points, or 2.18 percent, to 3,608.34. Hong Kong’s Hang Seng index ended 1.32 percent higher at 28,276.75.

Japanese shares ended on a flat note. The Nikkei average finished marginally higher at 28,164.34, recovering from early declines. The broader Topix index closed 0.16 percent higher at 1,857.94.

Australian markets ended slightly lower. The benchmark S&P/ASX 200 index slid 18.10 points, or 0.27 percent, to 6,679.10. The broader All Ordinaries index ended down 20.40 points, or 0.29 percent, at 6,939.10.

European shares are trading lower. Among the major indexes in the region, the German DAX is losing 5.22 points or 0.04 percent, the U.K. FTSE 100 Index is down 48.74 points or 0.72 percent.

The Swiss Market Index is sliding 34.20 points or 0.32 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.15 percent.

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