Wall Street Hopes For Higher Outing

The Labor Market Conditions Index for July and a couple of Fed speeches are the major focus of the market on Monday. Initial trading on the U.S. Futures Index suggest that Wall Street stocks could open the session moderately higher. Asian stocks closed moderately higher, while European shares are trading mostly up.

As of 6.30 am ET, the Dow futures were adding 30 points, the S&P 500 futures were climbing 1.75 points and the Nasdaq 100 futures were progressing 4.50 points.

U.S. stocks closed modestly higher on Friday. The Dow rose 66.71 points or 0.3 percent to 22,092.81, the Nasdaq edged up 11.22 points or 0.2 percent to 6,351.56 and the S&P 500 crept up 4.67 points or 0.2 percent to 2,476.83.

On the economic front, the Gallup U.S. Consumer Spending Measure for July will be issued at 8.30 am ET. In the previous month, the level was at $103.

The Labor Market Conditions Index for July will be published at 10.00 am ET. The economists are looking for consensus of 2.0, up from 1.5 a month ago.

St. Louis Federal Reserve Bank President James Bullard will discuss the U.S. economy and monetary policy at the America’s Cotton Marketing Cooperatives 2017 Conference in Nashville, with audience and media Q&A at 11.45 am ET.

Minneapolis Federal Reserve Bank President Neel Kashkari shall take part in a moderated audience Q&A session at the Sioux Falls Rotary Club event in Sioux Falls, SD at 1.25 pm.

TD Ameritrade Investor Movement Index or IMX for July will be issued at 12.30 pm ET. The prior month level was 6.58.

The Consumer Credit Indicator for June will be published at 3.00 pm ET. The consensus is for $16 billion compared to $18.4 billion in the prior month.

In the corporate segment, United Technologies Corp. (UTX) is reportedly weighing an acquisition of aviation-equipment supplier Rockwell Collins Inc. (COL). According to Bloomberg, Rockwell Collins has a market value of $19.3 billion, raising the prospect that a transaction would top United Technologies’ own $18 billion…

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