Wall Street Aims To Bounce Back

(RTTNews) - Initial cues from the U.S. Futures Index suggest that Wall Street might open moderately up. This week's trading is likely to be driven by reaction to reports on consumer and producer price inflation.

As of 8.20 am ET, the Dow futures were adding 35.00 points, the S&P 500 futures were progressing 9.25 points and the Nasdaq 100 futures were gaining 63.75 points.

The U.S. major averages Friday closed in negative territory. The Dow slid 220.43 points or 0.5 percent to 45,400.86, the S&P 500 fell 20.58 points or 0.3 percent to 6,481.50 and the Nasdaq edged down 7.31 points or 21,700.39.

On the economic front, the six-month Treasury bill auction will be held at 11.30 am ET.

The Federal Reserve's Consumer Credit for July is scheduled at 3.00 pm ET. The consensus is for $10 billion, while it was up $7.4 billion last year.

Asian stocks advanced on Monday. Chinese stocks rebounded. The benchmark Shanghai Composite index edged up by 0.38 percent to 3,826.84. Hong Kong's Hang Seng index climbed 0.85 percent to 25,633.91.

Japanese markets led regional gains. The Nikkei average jumped 1.45 percent to 43,643.81.

The broader Topix index settled 1.06 percent higher at 3,138.20.

Australian markets ended slightly lower. The benchmark S&P/ASX 200 dropped 0.24 percent to 8,849.60 while the broader All Ordinaries index closed 0.15 percent lower at 9,126.90.