Futures Point To Higher Opening On Wall Street

The Current Account Deficit is the major data to be released today. Initial trading pattern in the U.S. Futures Index suggest that Wall Street might open modestly higher. Asian shares closed mostly lower, while European shares are trading in the green.

As of 6.15 am ET, the Dow futures were adding 8 points, the S&P 500 futures were up 0.25 points and the Nasdaq 100 futures were progressing 9.25 points.

U.S. stocks closed higher on Monday. The Dow climbed 144.71 points or 0.7 percent to 21,528.99, the Nasdaq surged up 87.25 points or 1.4 percent to 6,239.01 and the S&P 500 advanced 20.31 points or 0.8 percent to 2,453.46.

On the economic front, the Current Account deficit for the quarter will be issued at 8.30 am ET. The economists are looking for a deficit of $122.1 billion,compared to $112.4 billion in the last week.

Federal Reserve Vice Chairman Stanley Fischer will deliver keynote speech at the DNB-Riksbank Macroprudential Conference Series in Amsterdam at 3.15 am ET. Boston Federal Reserve Bank President Eric Rosengrenf will speak about “Bad zero: Financial Stability in a Low Interest Rate Environment” at the DNB-Riksbank Macroprudential Conference Series in Amsterdam at 8.15 am ET.

In the corporate sector, Airline leasing company Avolon Tuesday said it signed a memorandum of understanding with Boeing for 75 Boeing 737 MAX 8 aircraft an option for further 50 Boeing 737 MAX 8 aircraft. The MoU, signed at the Paris Air Show, is valued at $8.4 billion at current list prices. The delivery is scheduled from 2021 onwards.

Orange (ORAN) said it has launched the sell-down of approximately 133 million shares that its subsidiary Atlas Services Belgium owns in BT, representing around 1.33 percent of the share capital of BT Group plc, through a private placement by way of an accelerated bookbuilt offering.

Asian stocks finished mostly lower on Tuesday. China’s Shanghai Composite index slid 4.36 points or 0.14 percent to 3,140.01 while Hong Kong’s Hang Seng index closed…

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