June 29, 2022

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Wall Street Aims To Open Substantially Higher

2 min read

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

Investors are closely watching the Russian invasion of Ukraine. Evacuation is going on in Ukraine as Russia goes ahead with combat in various regions.

Asian shares finished higher, while European shares are trading up.

As of 7.45 am ET, the Dow futures were up 394.00 points, the S&P 500 futures were adding 62.75 points and the Nasdaq 100 futures were progressing 237.00 points.

The U.S. stocks ended mixed on Monday. The Dow ended slightly up at 32,223.42, gaining 26.76 points or 0.08 percent. The S&P 500 lost 15.88 points or 0.39 percent at 4,008.01. The Nasdaq closed with a loss of 142.21 points or 1.2 percent at 11,662.79.

On the economic front, the Commerce Department’s Retail Sales for April will be issued at 8.30 am ET. The consensus is for an increase of 0.8 percent, while it was up 0.5 percent in the prior month.

The Fed Industrial Production for April will be released at 9.15 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.9 percent in February.

The Commerce Department’s Business Inventories for March will be published at 10.00 am ET. The consensus is for an increase of 1.8 percent, while it was up 1.5 percent in the prior month.

The Housing Market Index for May will be released at 10.00 am ET. The consensus is for 75, while it was up 77 in the prior month.

Federal Reserve Chairman Jerome Powell will participate in a conversation before the Wall Street Journal Future of Everything Festival at 2.00 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker will speak on Healthcare as an Economic Driver before hybrid Stern Future Healthcare Workforce Summit at 9.15 am ET.

Cleveland Federal Reserve Bank President Loretta Mester to give opening remarks before virtual Cleveland Fed Conversations at 2.30 am ET.

Chicago Federal Reserve Bank President Charles Evans to speak on current economic conditions or monetary policy…

2022-05-17 08:17:53

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