Wall Street Might Open Moderately Up

Investors might be watching the Middle East tensions and the higher oil futures prices on Monday.

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

This week’s U.S. economic calendar will start off relatively quiet. Earnings results might gain interest from investors in the coming days.

As of 7.35 am ET, the Dow futures were down 9.00 points, the S&P 500 futures were adding 3.00 points and the Nasdaq 100 futures were progressing 32.25 points.

The U.S. major averages finished lower on Friday. The S&P 500 edged down 3.19 points or 0.1 percent to 4,890.97 and the Nasdaq fell 55.13 points or 0.4 percent to 15,455.36, the narrower Dow rose 60.30 points or 0.2 percent to a new record closing high of 38,109.43.

On the economic front, the Dallas Fed Manufacturing Survey for January will be released at 10.30 am ET. In the prior month, the general activity index was down 9.3 and the production index was up 1.4.

Six-month Treasury bill auction will be held at 11.30 am ET.

Asian stocks advanced on Monday. China’s Shanghai Composite index fluctuated before finishing 0.92 percent lower at 2,883.36 as a court-ordered China Evergrande Group to undergo liquidation. Hong Kong’s Hang Seng index rose 0.78 percent to 16,077.24.

Japanese shares rose notably. The Nikkei average jumped 0.77 percent to 36,026.94 while the broader Topix index settled 1.27 percent higher at 2,529.48.

Australian markets eked out modest gains. The benchmark S&P ASX 200 rose 0.30 percent to 7,578.40 while the broader All Ordinaries index settled 0.30 percent higher at 7,808.30.

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