Wall Street Aims To Open Moderately Positive

Reports on Home Prices, New Home Sales as well as Consumer Confidence might be impacting the consumer sentiments on Tuesday.

Asian shares finished mixed, while European shares are trading down.

Initials trends on the U.S. Futures Index suggest that Wall Street might open positive.

As of 7.45 am ET, the Dow futures were adding 95.00 points, the S&P 500 futures were gaining 15.75 points and the Nasdaq 100 futures were adding 78.75 points.

The U.S. major averages remained firmly positive at the close on Monday. The Dow climbed 186.14 points or 0.5 percent to 34,393.98, the Nasdaq surged up 190.18 points or 1.4 percent to 13,661.17 and the S&P 500 jumped 41.19 points or 1 percent to 4,197.05.

On the economic front, the Redbook for the week will be published at 8.55 am ET. In the prior week, the Store sales were up 12.6 percent.

Standard & Poor’s Case-Shiller Home Price Index for March will be issued at 9.00 am ET. The consensus is for 1.1 percent, while it was up 1.2 percent in the prior month.
The Federal Housing Finance Agency’s House Price Index or HPI for March is scheduled at 9.00 am ET. The consensus is for 1.0 percent, while it was up 0.9 percent.

The Commerce, the Housing and Urban Development department’s New Home Sales for April will be issued at 10.00 pm ET. The consensus is for 955k, while it was up 1,021k in the previous month.

The Conference Board’s Consumer Confidence for May will be released at 10.00 am ET. The consensus is for 119.5, while it was up 121.7 in April.

The two-year Treasury Note auction will be held at 1.00 pm ET.

The Money Supply for April is scheduled at 1.00 pm ET. In the prior month, the M2 Money Supply was $245.9 billion.

Federal Reserve Vice Chair for Supervision Randal Quarles will testify on “Supervision and Regulation” before the virtual Senate Banking Committee hearing at 10.00 am ET.

Asian stocks ended mixed on Tuesday. Chinese shares surged to their highest level since March.

The benchmark Shanghai Composite index rallied 84.06 points, or 2.40 percent, to 3,581.34 while Hong Kong’s Hang Seng index ended up 498.60 points, or 1.75 percent, at 28,910.86.

Japanese shares finished notably higher. The Nikkei average rose 189.37 points, or 0.67 percent, to 28,553.98, while the broader Topix index closed 0.34 percent higher at 1,919.52.

Australian markets rose for the fourth day. The S&P/ASX 200 index rallied 69.30 points, or 0.98 percent, to 7,115.20 while the broader All Ordinaries index ended up 73.10 points, or 1.00 percent, at 7,349.10.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 25.81 points or 0.43 percent. The German DAX is adding 8.23 points or 0.06 percent, the U.K. FTSE 100 Index is down 4.88 points or 0.07 percent.

The Swiss Market Index is sliding 16.50 points or 0.15 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.39 percent.

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