Wall Street Set To Open Significantly Positive

New Home Sales report and revised Consumer Sentiment report by the highlight on Friday.

Asian shares finished positive, while European shares are trading up.
Early signs from the U.S. Futures Index suggest that Wall Street might open significantly higher.

As of 7.35 am ET, the Dow futures were up 221.00 points, the S&P 500 futures were adding 29.50 points and the Nasdaq 100 futures were progressing 104.75 points.

The U.S. major stocks ended significantly higher on Thursday. The Dow climbed 194.23 points or 0.6 percent to 30,677.36, the Nasdaq surged 179.11 points or 1.6 percent to 11,232.19 and the S&P 500 jumped 35.84 points or 1 percent at 3,795.73.

On the economic front, the Commerce, Housing, and Urban Development Department’s New Home Sales for May will be published at 10.00 am ET. The consensus is for 587K, while it was up 591K in the prior month.

The University of Michigan’s Consumer Sentiment report for June will be released at 10.00 am ET. The consensus is 50.2, while it was up 50.2 in May, 2022.

The Baker Hughes North American rig count for the week is scheduled at 1.00 pm ET. In the prior week, the North America rig count was 896 and the U.S. rig count was 740.
San Francisco Federal Reserve Bank President Mary Daly will speak on monetary policy before hybrid Shadow Open Market Conference 2022 hosted by Chapman University at 4.00 pm ET.

Asian stocks finished positive on Friday. China’s Shanghai Composite index closed 0.89 percent higher at 3,349.75. Hong Kong’s Hang Seng index rallied 2.09 percent to 21,719.06.

Japanese shares advanced on the day. The Nikkei average jumped 1.23 percent to 26,491.97 while the broader Topix index closed 0.81 percent higher at 1,866.72.

Australian markets ended notably higher. The benchmark S&P/ASX 200 index rose 0.77 percent to 6,578.70 while the broader All Ordinaries index closed 1.06 percent higher at 6,762.40.

European shares are trading higher. CAC 40 of France is gaining 129.12 points or 2.18 percent. DAX of Germany is adding 134.58 points or 1.04 percent. FTSE 100 of England is progressing 109.63 points or 1.56 percent. Swiss Market Index is up 254.64 points or 2.43 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.72 percent.

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