Futures Point To Broadly Higher Open For Wall Street

(RTTNews) - Oil prices are ticking higher on Monday, even though strikes have temporarily paused to ease conflict in the Middle East. President Trump is focusing on applying economic pressure on Iran to keep the Strait of Hormuz open.

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

In the Asian trading session, oil prices traded higher. Brent crude futures were up 1.1 percent at $84.51 a barrel

Gold prices held steady. Spot gold edged up by 0.1 percent to $4,347.76 an ounce.

Early signs from the U.S. Futures Index suggest that Wall Street might open broadly up.

As of 7.40 am ET, the Dow futures were losing 68.00 points, the S&P 500 futures were gaining 5.75 points and the Nasdaq 100 futures were up 61.25 points.

The U.S. major averages finished higher on Friday. The tech-heavy Nasdaq led the way higher, jumping 342.26 points or 1.3 percent to 26,690.62. The S&P 500 also climbed 47.68 points or 0.6 percent to 7,757.64, while the narrower Dow rose 151.83 points or 0.3 percent to 54,036.93.

On the economic front, the 3-month Treasury bill auction will be held at 11.30 am Et. The 6-month treasury bill auction will be held at 11.30 am ET.

Asian stocks rose broadly on Monday. China's Shanghai Composite index rose 0.67 percent to 3,966.59. Hong Kong's Hang Seng index surged 1.05 percent to 25,937.49.

Japanese markets rose sharply. The Nikkei average jumped 2.08 percent to 66,970.22. The broader Topix index gained 0.63 percent to close at 4,100.61. Australian markets ended lower. The benchmark S&P/ASX 200 dropped 0.33 percent to 9,232.60 while the broader All Ordinaries index settled 0.22 percent lower at 9,424.10.