Futures Point Wall Street To Open Higher

ISM Manufacturing Index for December as well as JOLTS reports for November might get special attention on Tuesday.

Early signs from the U.S. Futures Index suggest that Wall Street might open higher.
Asian shares finished mostly higher, while European shares are trading positive.

As of 7.10 am ET, the Dow futures were up 119.00 points, the S&P 500 futures were adding 17.00 points and the Nasdaq 100 futures were progressing 55.00 points.

The U.S. major averages all ended with solid gains on Monday. The Dow climbed 246.76 points or 0.68 percent to 36,585.06, a record closing high. The S&P 500, which also posted a fresh closing high, settling at 4,796.56, gained 30.38 points or 0.64 percent, while the Nasdaq moved up 187.83 points or 1.2 percent to 15,832.80.

On the economic front, the Redbook, a weekly measure of comparable store sales at chain stores, discounters, and department stores, is scheduled at 8.55 am ET. In the prior week, the store sales were up 21.4 percent.

The Institute for Supply Management’s ISM Manufacturing Index for December is issued at 10.00 am ET. The consensus is for 60.5, while it was up 61.1 in the prior month.

The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS for November will be issued at 10.00 am ET. The consensus is for 11.06 million, while it was up 11.03 million in the prior month.

The 8-week Treasury bills report is scheduled at 11.00 am ET.

Asian stocks gained ground on Tuesday. Chinese shares fell slightly. The benchmark Shanghai Composite index dropped 7.45 points, or 0.20 percent, to 3,632.33 in its first session of the year.

Hong Kong’s Hang Seng index ended little changed at 23,289.84. Tech stocks declined.
Japanese shares rallied after the yen fell to its weakest since 2017 against the dollar. The Nikkei average jumped as much as 510.08 points, or 1.77 percent, to 29,301.79.

Australian markets started the year with a bang. The benchmark S&P/ASX 200 index climbed 145.20 points, or 1.95 percent, to 7,589.80. The broader All Ordinaries index jumped 147.60 points, or 1.90 percent, at 7,926.80.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 96.35 points or 1.35 percent. The German DAX is adding 125.55 points or 0.78 percent, the U.K. FTSE 100 Index is gaining 101.45 points or 1.37 percent.

The Swiss Market Index is progressing 13.38 points or 0.10 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.04 percent.

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