Wall Street Aims To Open Positive

As the coronavirus infections near two million across the globe, total deaths crossed 119 thousand. Infections in U.S. are nearing the peak with nearly 600 thousand infections and more than 23,000 deaths. President Donald Trump is expected to announce a new task force on Tuesday.

Investors continue to focus on the news on coronavirus. The hope of a curving of the graph of infections in several countries is taken as the light at the end of the tunnel.

A couple of Fed speeches might attract investors on Tuesday.

Asian shares finished mostly higher, while European shares are trading broadly positive.

Initial signs from the U.S. futures Index suggest that Wall Street might open higher.
As of 8.15 am ET, the Dow futures were up369.00 points, the S&P 500 futures were gaining 41.00 points and the Nasdaq 100 futures were progressing 148.00 points.
The U.S. major averages finished broadly lower on Monday. The Nasdaq climbed 38.85 points or 0.5 percent to 8,192.42, the Dow slumped 328.60 points or 1.4 percent to 23,390.77 and the S&P 500 slid 28.19 points or 1 percent to 2,761.63.

For the economic front, the Red Book data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be issued at 8.55 am ET. In the prior week, the Store Sales were up 5.3 percent.

St. Louis Federal Reserve Bank President James Bullard will speak about the economy at a virtual event at 11.05 am ET.

Atlanta Federal Reserve Bank President Raphael Bostic will speak about the economic outlook and the Fed’s response to Covid 19 at a joint Birmingham Rotary and Kiwanis Club Meeting at 12.30 pm ET.

Asian stocks posted strong gains on Tuesday. China’s Shanghai Composite index rallied 44.24 points, or 1.59 percent, to 2,827.28. Hong Kong’s Hang Seng index rose 0.56 percent to 24,435.40.

Japanese stocks rallied. The Nikkei average jumped 595.41 points, or 3.13 percent, to 19,638.81, while the broader Topix index closed 1.96 percent higher at 1,433.51.
Australian markets finished stronger. The benchmark S&P/ASX 200 index climbed 100.80 points, or 1.87 percent, to 5.488.10. The broader All Ordinaries index ended up 103.10 points, or 1.90 percent, at 5,542.50.

European shares are mostly higher. CAC 40 of France is adding 11.67 points or 0.26 percent. DAX of Germany is gaining 148.69 points or 1.40 percent. FTSE 100 of England is declining 36.16 points or 0.62 percent. Swiss Market Index is progressing 119.14 points or 1.27 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.84 percent.

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