Wall Street Might Open Modestly Higher

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

Asian shares finished mostly down, while European shares are trading in negative territory.

The Fed decision might be the highlight this week. Consumer Confidence, New Home Sales, Durable Goods, Second Quarter GDP, and Personal Income and Spending are likely to get investor attention in the coming days.

Major corporates such as Google parent Alphabet (GOOGL), Microsoft (MSFT), and Meta Platforms (META) have scheduled their earnings this week.

As of 7.45 am ET, the Dow futures were up 25.00 points, the S&P 500 futures were adding 8.25 points and the Nasdaq 100 futures were progressing 40.50 points.

The U.S. major averages eventually ended Friday narrowly mixed. The Nasdaq slipped 30.50 points or 0.2 percent to 14,032.81, the Dow inched up 2.51 points or less than a tenth of a percent to 35,227.69 and the S&P 500 crept up 1.47 points or less than a tenth of a percent to 4,536.34.

Chicago Fed National Activity Index for June will be released at 8.30 am ET. The consensus is 0.03, while it was down 0.15 in the prior month.

The flash Composite Purchasing Managers’ Index or PMI for July will be issued at 9.45 am ET. The consensus is 46.0.

The six-month Treasury bills auction will be held at 11.30 am ET.

A two-year Treasury auction will be held at 1.00 pm ET.

Asian stocks closed mostly higher on Monday. Chinese shares edged lower. The benchmark Shanghai Composite index slipped 0.11 percent to 3,164.16.

Hong Kong’s Hang Seng index fell 2.13 percent to 18,668.15.

Japanese shares posted strong gains. The Nikkei average rallied 1.23 percent to 32,700.94 while the broader Topix index ended 0.84 percent higher at 2,281.18.

Australian markets ended slightly lower. The benchmark S&P/ASX 200 slid 0.10 percent to 7,306.40 while the broader All Ordinaries index closed 0.13 percent lower at 7,517.30.

European shares are trading lower. CAC 40 of France is down 37.71 points or 0.51 percent. DAX of Germany is declining 10.92 points or 0.07 percent. FTSE 100 of England is down 17.94 points or 0.23 percent. The Swiss Market Index is sliding 35.12 points or 0.32 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.46 percent.

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