Wall Street Set To Open Positive

The flash PMI for June and New Home Sales reports might attract investors on Tuesday.
Initials cues from the U.S. Futures Index suggest that Wall Street might open higher.
Asian shares finished positive, while European shares are trading up.

As of 8.20 am ET, the Dow futures were gaining 321.00 points, the S&P 500 futures were up 32.75 points and the Nasdaq 100 futures were slightly up 70.75 points.

The U.S. major averages all finished Monday firmly in positive territory. The Nasdaq jumped 110.35 points or 1.1 percent to 10,056.47, the Dow climbed 153.50 points or 0.6 percent to 26,024.96 and the S&P 500 advanced 20.12 points or 0.7 percent to 3,117.86.

On the economic front, the flash Composite Purchasing Managers’ Index or PMI for June will be issued at 9.45 am ET. The consensus is for 45.0, up from 36.4 in the prior month.

The Commerce and the Housing and Urban Development Department’s New Home Sales for May will be released at 10.00 am ET. The consensus is for 630K, slightly up from 623K in the prior month.

Richmond Fed Manufacturing Index for June will be published at 10.00 am ET. The consensus is for minus 5, compared to minus 27 in May.
Two-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks finished higher on Tuesday. Chinese indices ended higher. The benchmark Shanghai Composite Index edged up 5.35 points, or 0.2 percent, to 2,970.62, while Hong Kong’s Hang Seng Index jumped 396.00 points, or 1.6 percent, to 24,907.34.

Japanese shares advanced on Tuesday. The Nikkei 225 Index climbed 111.78 points, or 0.5 percent, to 22,549.05, while the broader Topix closed 0.5 percent higher at 1,587.14.

Australian markets closed modestly higher. The benchmark S&P/ASX 200 Index inched up 9.90 points, or 0.2 percent, to 5,954.40, while the broader All Ordinaries Index ended up 11.30 points, or 0.2 percent, at 6,069.30.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is adding 94.04 points or 1.88 percent. The German DAX is adding 338.51 points or 2.76 percent, the U.K. FTSE 100 Index is progressing 93.83 points or 1.51 percent.

The Swiss Market Index is gaining 107.81 points or 1.07 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 2.30 percent.

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