Wall Street To Open Positive Ahead Of Biden’s Swearing-in
In an unprecedented transfer of power Joseph Biden, Jr. is to be sworn in as the 46th President of the United States at noon today.
President Trump opted not to witness the ceremony and departed the White House in a marine one this morning. With more than 25000 national guard troops are guarding Washington.
Asian shares finished broadly higher, while European shares are trading mixed.
Initial cues from the U.S. Futures Index suggest that Wall Street might open positive.
As of 7.40 am ET, the Dow futures were adding 22.00 points, the S&P 500 futures were gaining 12.50 points and the Nasdaq 100 futures were up 108.00 points.
The U.S. major averages all closed in positive territory on Tuesday, with the Nasdaq outperforming its counterparts. While the Nasdaq jumped 198.68 points or 1.5 percent to 13,197.18, the Dow rose 116.26 points or 0.4 percent to 30,930.52 and the S&P 500 climbed 30.66 points or 0.8 percent to 3,798.91.
On the economic front, the Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be revealed at 8.55 am ET. In the prior week, the Store Sales were up 2.1 percent.
National Association of Home Builders/Wells Fargo’s Housing Market Index for January will be released at 10.00 am ET. The consensus is for 86, while it was at 86 in the previous month.
Twenty year Treasury Bond auction will be held at 1.00 am ET.
Asian stocks ended mostly higher on Wednesday. Chinese shares fluctuated before finishing higher. The benchmark Shanghai Composite index rose 16.71 points, or 0.47 percent, to 3,583.09, while Hong Kong’s Hang Seng index ended up 320.19 points, or 1.08 percent, to 29,962.47.
Japanese shares closed lower. The Nikkei average dropped 110.20 points, or 0.38 percent, to 28,523.26, while the broader Topix index closed 0.34 percent lower at 1,849.58.
Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 27.80 points, or 0.41 percent, to 6,770.40, while the broader All Ordinaries index ended up 36 points, or 0.51 percent, at 7,051.
European shares are trading mixed. Among the major indexes in the region, the German DAX is gaining 56.91 points or 0.41 percent, the U.K. FTSE 100 Index is losing 3.76 points or 0.05 percent.
The Swiss Market Index is adding 43.35 points or 0.40 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.43 percent.
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