Wall Street Set To Open Positive

After the long holiday weekend, investors are looking for economic announcements that would impact market sentiments. The U.S. trade deficit and Fed speeches are important this week.

Early trends on the U.S. Futures Index suggest that Wall Street might open slightly up.

As of 7.45 am ET, the Dow futures were up 165.00 points, the S&P 500 futures were adding 18.25 points and the Nasdaq 100 futures were progressing 44.50 points.

The U.S. major averages remained sharply lower at the close on Friday. The Dow tumbled 337.98 points or 1.1 percent to 31,318.44. the Nasdaq tumbled 154.26 points or 1.3 percent to 11,630.87 and the S&P 500 clumped 42.59 points or 1.1 percent to 3,924.26.

On the economic front, the Institute For Supply Management’s Services Index for August will be released at 10.00 am ET. The consensus is for 55.4, while it was up 56.7.

Asian stocks ended mixed on Tuesday. China’s Shanghai Composite index rallied 1.36 percent to 3,243.45.

Hong Kong’s Hang Seng index ended 0.12 percent lower at 19,202.73.

Japanese markets ended mixed. The Nikkei average finished marginally higher at 27,626.51 while the broader Topix index slipped 0.11 percent to 1,926.58.

Australian markets ended lower. The benchmark S&P/ASX 200 slipped 0.38 percent to 6,826.50 while the broader All Ordinaries index closed 0.26 percent lower at 7,055.90.

European shares are trading mostly higher. CAC 40 of France is gaining 12.51 points or 0.22 percent. DAX of Germany is adding 97.04 points or 0.76 percent. FTSE 100 of England is progressing 7.70 points or 0.11 percent. Swiss Market Index is up 54.56 points or 0.50 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.30 percent.

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