Wall Street Might Open Mostly Positive

The aggravating coronavirus situation and the resultant lockdowns in various countries are dampening the investor appetite.

Early signs from the U.S. Futures Index suggest that Wall Street might open mostly higher.

Asian shares were down, while European shares are trading higher.

As of 8.05 am ET, the Dow futures were adding 71.00 points, the S&P 500 futures were gaining 5.50 points and the Nasdaq 100 futures were sliding 3.75 points.

The U.S. major indices finished mostly higher on Wednesday. The Dow ended up by 210.22 points or 0.61 percent at 34,502.51. The S&P 500 settled at 4,297.50, gaining 5.70 points or 0.12 percent, and the Nasdaq closed lower by 24.38 points or 0.17 percent at 14,503.95.

On the economic front, the Labor Department’s Jobless Claims for the week will be released at 8.30 am ET. The consensus for initial claims is 395K, while it was up 411K in the prior week.

HIS Markit’s PMI Manufacturing Final for June will be issued at 9.45 am ET. The consensus is 62.6, while it was up 62.1 in the prior month.

ISM Manufacturing Index for June is scheduled at 10.00 am ET. The consensus is 61.0, while it was 61.2 in the previous month.

The Commerce Department’s Construction Spending for May will be released at 10.00 am ET. The consensus is for an increase of 0.5 percent, while it grew 0.2 percent in April.

The Energy Information Administration or EIA’s Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the gas stock was up 55 bcf.

The Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was at $8.102 trillion.

Asian stock markets finished lower today. China’s Shanghai Composite fell 0.07 percent to close the trade at 3588.78. The Hong Kong Stock Exchange is closed for a local holiday.

Japan’s Nikkei 225 closed at 28707.04, eroding 0.29 percent from the previous day’s closing.

Australia’s S&P/ASX200 closed 0.65 percent lower at 7265.60.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 36.71 points or 0.56 percent. The German DAX is adding 71.75 points or 0.46 percent, the U.K. FTSE 100 Index is gaining 67.79 points or 0.95 percent.

The Swiss Market Index is adding 20.01 points or 0.17 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.40 percent.

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