Futures Point To Positive Open For Wall Street

(RTTNews) - OPEC+'s approval for improved oil production and ease of the Middle East tensions might influence investor sentiments on Monday.

Asian shares finished mixed, while European shares are trading in the positive territory.

Oil prices tumbled in the Asian trading hours. Brent crude futures slumped 4.7 percent to $83.80 a barrel

Gold ticked higher, while spot gold edged up 0.3 percent to $4,052.78 an ounce.

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

As of 7.50 am ET, the Dow futures were up 540.00 points, the S&P 500 futures were adding 41.00 points and the Nasdaq 100 futures were progressing 21.50 points.

The U.S. major averages ended Friday firmly positive. The Nasdaq jumped 251.68 points or 1 percent to 25,373.85, the S&P 500 advanced 52.09 points or 0.7 percent to 7,489.72 and the Dow climbed 276.97 points or 0.5 percent to 52,485.03.

On the economic front, the PMI Manufacturing Final for July will be issued at 9.45 am ET. The consensus is 53.8, while flash report wa 53.8 in June.

The Institute for Supply Management or ISM Manufacturing Index for July will be published at 10.00 am ET. The consensus is 54.0, while it was up 53.3 in the previous month.

The Construction Spending for June is scheduled at 10.00 am ET. The consensus is 0.3 percent, while it was up 0.1 percent in the prior month.

Six-month abd 3-month Treasury bill auctions will be held at

Asian stocks ended mixed on Monday. China's Shanghai Composite index dipped 0.59 percent to 3,809.66, Hong Kong's Hang Seng index rose 0.48 percent to 26,009.40.

Japanese markets ended lower. The Nikkei average fell 0.94 percent to 63,754.90. The broader Topix index settled 1.08 percent lower at 3,960.03.

Australian markets advanced. The benchmark S&P/ASX 200 edged up by 0.47 percent to 9,019.30. The broader All Ordinaries index ended up 0.45 percent at 9,178.40.