Wall Street Set To Continue In Positive Zone

Initial cues from the U.S. Futures Index suggest that Wall Street might open slightly up.

In the Asian trading session, the dollar was broadly lower, while gold prices surged toward $5,200 an ounce. Oil edged higher.

Asian shares were positive at the closing. European shares are trading high.

As of 7.35 am ET, the Dow futures were adding 139.00 points, the S&P 500 futures were gaining 21.75 points and the Nasdaq 100 futures were up 104.25 points.

The U.S. major averages ended Tuesday higher. The Nasdaq jumped 236.41 points or 1.0 percent to 22,863.68, the Dow advanced 370.44 points or 0.8 percent to 49,174.50 and the S&P 500 climbed 52.32 points or 0.8 percent to 6,890.07.

On the economic front, the New Home Sales for January will be issued at 10.00 am ET. In the prior month the annual home sales were up 745K.

The Energy Information Administration or EIA’s Petroleum Status Report for the week will be released at 10.30 am ET. In the prior week, Crude Oil Inventories were down 9.0 million barrels, while Gasoline Inventories were down 3.2 million barrels.

The 5-year Treasury Note auction will be held at 1.00 pm ET.

Richmond Fed President Thomas Barkin will speak in a panel Q&A before the Northern Virginia Chamber Annual State of the Region event at 9.35 am ET.

Kansas City Fed Bank President Jeffrey Schmid will speak on monetary policy and the economic outlook in fireside chat and moderated Q&A before the Economic Club of Colorado at 11.00 ET.

St. Louis Fed President Alberto Musalem will participate in moderated discussion on ‘The Role of the Federal Reserve in the St. Louis Region’ before the Missouri Athletic Club Speaker Series at 1.20 pm ET.

Asian stocks finished higher on Wednesday. China’s Shanghai Composite index climbed 0.72 percent to 4,147.23. Hong Kong’ Hang Seng index rose 0.66 percent to 26,765.72.

Japanese markets hit a new record. The Nikkei average jumped 2.20 percent to 58,583.12, led by strong chip and AI names. The broader Topix index closed 0.71 percent higher at 3,843.16.

Australian shares hit a record high. The benchmark S&P/ASX 200 ?closed 1.17 percent higher at 9,128.30, after having touched a record high of 9,130.30 points earlier. The broader All Ordinaries index gained 1.24 percent to close at 9,359.

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