Wall Street To Open Moderately Higher Ahead Of JOLTS
The JOLTS report for October is closely monitored by the investors, which is expected to be slightly down from the prior month.
Initial signs from the U.S. Futures Index suggest that Wall Street might open moderately higher.
Asian shares finished mostly in the red, while European shares are trading lower.
As of 8.10 am ET, the Dow futures were gaining 46.00 points, the S&P 500 futures were adding 6.75 points and the Nasdaq 100 futures were up 32.75 points.
U.S. major averages closed lower on Friday. The Dow tumbled 558.72 points or 2.2 percent to 24,388.95, the Nasdaq plunged 219.01 points or 3.1 percent to 6,969.25 and the S&P 500 slumped 62.87 points or 2.3 percent to 2,633.08.
On the economic front, the Labor Statistics bureau’s Job Openings and Labor Turnover Survey or JOLTS report for October will be published at 10.00 am ET. The consensus is for 7.00 am ET, slightly down from 7.09 in the prior month.
TD Ameritrade’s Investor Movement Index for November will be issued at 12.30 pm ET. The prior level was 6.10.
Asian stocks tumbled on Monday. Chinese shares fell as weaker-than-expected data on trade pointed to slower global demand. The benchmark Shanghai Composite index dropped 21.31 points or 0.82 percent to 2,584.58 while Hong Kong’s Hang Seng index ended down 1.19 percent at 25,752.38.
China’s consumer inflation and producer price inflation eased in November, giving policymakers more room to loosen fiscal and monetary policies.
Japanese shares hit six-week low. GDP shrank at an annualized rate of 2.5 percent in July-September, worse than an initial estimate of a 1.2 percent contraction, revised data showed. The Nikkei average tumbled 459.18 points or 2.12 percent to close at 21,219.50, the lowest level since Oct. 29. The broader Topix index closed 1.89 percent lower at 1,589.81.
Australian markets hit two-year lows. The benchmark S&P/ASX 200 index fell as much as 129 points or 2.27 percent to 5,552.50 while the broader All Ordinaries index ended down 130.40 points or 2.26 percent at 5,627.50.
European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is losing 21.20 points or 0.44 percent, the German DAX is declining 49.46 points or 0.46 percent, the U.K. FTSE 100 Index is progressing 20.88 points or 0.31 percent. The Swiss Market Index is dropping 46.18 points or 0.53 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.33 percent.
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