Early indicators from the U.S. Futures Index suggest a strong opening for Wall Street on Monday, with notable gains anticipated. In contrast, Asian markets closed lower, while European stocks are currently trading in positive territory.
Key economic data expected today includes the PMI Composite Final for December and the Factory Orders for November. Later in the week, the U.S. Labor Department will release the JOLTS report detailing monthly job openings on Tuesday. Additionally, updates on the service sector activity and the Consumer Sentiment report are anticipated. Wednesday will see the release of the minutes from the most recent Federal Reserve meeting, with the payroll report scheduled for Friday.
During Monday's Asian trading session, oil prices decreased, and gold dipped slightly.
As of 7:25 a.m. ET, the Dow futures showed an increase of 139 points, the S&P 500 futures rose by 43.75 points, and the Nasdaq 100 futures advanced by 212.75 points.
On Friday, major U.S. averages closed with solid gains. The Nasdaq climbed by 340.88 points, or 1.8%, ending at 19,621.68. The S&P 500 increased by 73.92 points, or 1.3%, reaching 5,942.47, while the Dow rose by 339.86 points, or 0.8%, to close at 42,732.13.
On the economic calendar, the PMI Composite Final for December is expected at 9:45 a.m. ET; the previous month's flash composite index was 56.6. Factory Orders for November will be released at 10:00 a.m. ET, with a consensus forecast of a 0.4% decline, following a 0.2% increase in October.
Additionally, the 3-year Treasury Note auction is scheduled for 1:00 p.m. ET. Fed Governor Lisa Cook will provide insights on "Economic Outlook and Financial Stability" at a conference organized by the University of Michigan Law School.
Asian markets ended Monday on a lower note. Both Chinese and Hong Kong indices displayed weakness, with China's Shanghai Composite index down 0.14% to 3,206.92, and Hong Kong's Hang Seng index decreased by 0.36% to 19,688.29. Japan's Nikkei 225 index fell 1.47% to 39,307.05 on its New Year trading debut, and the broader Topix index ended 1.02% lower at 2,756.38. Conversely, Australian markets showed marginal gains, and New Zealand's S&P/NZX-50 posted a slight increase, closing at 13,072.93.
In Europe, stocks are performing well. France's CAC 40 is up by 157.98 points, or 2.17%, Germany’s DAX is gaining 283.10 points, or 1.42%, and the UK's FTSE 100 is rising by 10.79 points, or 0.13%. The Swiss Market Index is also up 54.31 points, or 0.47%. The Euro Stoxx 50, which represents leading Eurozone supersector leaders, has increased by 2.14%.
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