Wall Street Seen Opening On Cautious Note
(RTTNews) - Subdued futures point to a flat to marginally higher start for U.S. stocks on Monday. The Dow and S&P futures are up marginally, while the Nasdaq futures are flat.
With inflation data due on Wednesday, the mood on Wall Street is likely to remain cautious. Quarterly earnings updates will continue to determine the trend for stocks.
Treasury Secretary Janet Yellen's warning that an "economic and financial catastrophe awaits the U.S. if lawmakers fail to agree to raise the debt ceiling" may weigh on sentiment.
U.S. stocks ended sharply higher on Friday on bargain hunting and Apple Inc's strong results.
The major averages all ended with impressive gains despite coming off the session's highs. The Dow jumped 546.64 points or 1.7 percent to 33,674.38, the Nasdaq spiked 269.01 points or 2.3 percent to 12,235.41 and the S&P 500 surged 75.03 points or 1.9 percent to 4,136.25.
In overseas trading, Asian stocks mostly moved higher on Monday, tracking Wall Street, where stocks rallied on Friday on upbeat corporate results as well as robust jobs data.
The major European markets are up in positive territory now even as the mood remains a bit cautious in some of the markets as investors await more economic data and earnings updates for direction.
In commodities, West Texas Intermediate Crude oil futures are up $1.89 or 2.65 percent at 73.23 a barrel. Gold futures are gaining $7.50 or 0.4 percent at $2,032.30 an ounce.
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