Wall Street Targets To Open Significantly Up

The Federal Reserve’s monetary policy decision might get attention this week. The monthly jobs report and Manufacturing and Service Sector Activity reports might attract investor’s interest.

Traders are also likely to keep an eye on the latest earnings news.

Policy meetings are scheduled this week by the U.S. Federal Reserve, Bank of England and Bank of Japan. Policy decisions are expected from the U.S. central bank and the U.K. central bank.

The Bank of Japan might tweak its yield curve control policy at its meeting tomorrow.
Early signs from the U.S. Futures Index suggest that Wall Street might open positive.
Asian shares finished mostly up, while European shares are trading higher.

As of 7.45 am ET, the Dow futures were up 214.00 points, the S&P 500 futures were adding 29.00 points and the Nasdaq 100 futures were progressing 118.00 points.

The U.S. major averages finished mostly higher on Friday. The Dow slumped to its lowest closing level in seven months, while the S&P 500 slid to a new five-month closing low.

The Nasdaq closed up 47.41 points or 0.4 percent at 12,643.01.

The Dow tumbled 366.71 points or 1.1 percent to 32,417.59 and the S&P 500 fell 19.86 points or 0.5 percent to 4,117.37.

On the economic front, the Dallas Fed Manufacturing Survey for October will be published at 10.30 am ET. In the prior month, the general activity index was down 18.1.

The six-month Treasury Bills auction will be held at 11.30 am ET.

Asian stocks ended mixed on Monday. Chinese shares closed slightly higher. The benchmark Shanghai Composite index edged up 0.12 percent to 3,021.55. Hong Kong’s Hang Seng index ended marginally higher at 17,406.36.

Japanese shares fell sharply. The Nikkei average fell 0.95 percent to 30,696.96 while the broader Topix index closed 1.04 percent lower at 2,231.24.

Australian markets fell notably. The benchmark S&P/ASX 200 fell 0.79 percent to 6,772.90. The broader All Ordinaries index dropped 0.77 percent to 6,960.20.

European shares are trading higher. CAC 40 of France is gaining 48.65 points or 0.72 percent. DAX of Germany is adding 93.67 points or 0.63 percent. FTSE 100 of England is progressing 58.09 points or 0.80 percent. The Swiss Market Index is up 68.69 points or 0.67 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.79 percent.

Source: Read Full Article