Wall Street Likely To See Positive Start
Higher U.S. futures point to a positive start for stocks on Wall Street Monday morning. A positive close in Asian markets and higher European stocks may also aid sentiment.
The Dow futures are gaining 0.53 percent, while the S&P futures and Nasdaq futures are up 0.51 percent and 0.48 percent, respectively.
Concerns about the spread of the Delta variant of coronavirus may hurt and limit market’s upside.
Investors will be looking ahead to US consumer inflation data for the month of August, due on Tuesday.
Asian stocks ended broadly higher on Monday despite news that the Biden administration is weighing a new probe into Chinese subsidies.
European stocks are higher with optimism about strong euro zone economic recovery outweighing concerns over fresh regulatory crackdown on Chinese firms.
In commodities, West Texas Intermediate Crude oil futures for October are gaining 0.57 or 0.82 percent at $70.28 a barrel, amid concerns about tighter supplies following the damage caused by Hurricane Ida in the Mexican Gulf region, and as markets look ahead to an announcement from China about details of planned crude oil sales from strategic reserves.
U.S. stocks ended lower on Friday, dragging the Dow and the S&P 500 to a negative close for a fifth straight session. The Dow fell 271.66 points or 0.8 percent to 34,607.72, its lowest closing level in well over a month. The Nasdaq slid 132.76 points or 0.9 percent to 15,115.49 and the S&P 500 dropped 34.70 points or 0.8 percent to 4,458.58.
The Dow tumbled by 2.2 percent in the holiday-shortened weak, while the S&P 500 and the Nasdaq slumped by 1.7 percent and 1.6 percent, respectively.
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