Futures Point To Higher Open For Wall Street

Former Carolina Governor Nikki Haley announced the launch of her Presidential Campaign for 2024. She will challenge Donald Trump in the Republican presidential primary next year. 51-year-old Nikki is a Diplomat and politician and has served as the U.S. Ambassador to the United Nation. Earlier in 2011, she served as Governor of South Carolina.

Consumer Price Inflation and speculations on interest rates might be influencing investor sentiments on Tuesday.

Reports said U.S. Secretary of State Antony Blinken is considering meeting top Chinese diplomat Wang Yi at the Munich Security Conference this week.

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 7.05 am ET, the Dow futures were up 30.00 points, the S&P 500 futures were adding 8.75 points and the Nasdaq 100 futures were progressing 41.50 points.

The U.S. major averages finished at new highs on Tuesday. The Dow jumped 376.66 points or 1.1 percent to 34,245,93, the Nasdaq surged 173.67 points or 1.5 percent to 11,891.79 and the S&P 500 shot up 46.83 points or 1.1 percent to 4,137.29.

The strength on Wall Street came as some traders looked to pick up stocks at relatively reduced levels following the weakness seen last week, which partly reflected ongoing concerns about the outlook for interest rates.

On the economic front, the Labor Department’s CPI for January, that represents the rate of inflation for consumer, will be released at 8.30 am ET.

Four-month Treasury Bill announcement will be held at 11.00 am ET.

Dallas Federal Reserve Bank President Lorrie Logan will participate in a conversation and moderated question-and-answer session before an event hosted by Prairie View A&M University at 11.00 am ET.

Philadelphia Federal Reserve Bank President Patrick Harker will speak on the economic outlook before event, La Salle University 2023 Economic Outlook at 1.00 pm ET.

New York Federal Reserve Bank President John Williams will speak before the NYBA NYC Region Meeting organized by the New York Bankers Association at 2.05 pm ET.

Asian stocks rose on Tuesday. Chinese shares eked out modest gains.

The Shanghai Composite index rose 0.28 percent to 3,293.28 while Hong Kong’s Hang Seng index ended 0.24 percent lower at 21,113.76.

Japanese shares gained notably, and the yen advanced. The Nikkei average climbed 0.64 percent to 27,602.77 while the broader Topix index ended 0.78 percent higher at 1,993.09.

Australian markets ended slightly higher. The benchmark S&P/ASX 200 inched up 0.18 percent to 7,430.90 while the broader All Ordinaries index gained 0.19 percent to settle at 7,628.60.

European shares are trading higher. CAC 40 of France is gaining 35.02 points or 0.49 percent. DAX of Germany is adding 54.75 points or 0.36 percent. FTSE 100 of England is progressing 34.90 points or 0.44 percent. The Swiss Market Index is up 69.41 points or 0.62 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.38 percent.

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