Wall Street is poised for another round of gains, with strong US holiday sales bolstering sentiment.
The S&P 500 was set to open higher on Tuesday, extending gains from the previous four sessions, as encouraging US holiday sales data lifted investor mood.
Futures on the Dow Jones Industrial Average rose 6 points, or 0.02 % , S&P 500 futures up 4 points, or 0.1 % , and Nasdaq futures rose 41 points, or 0.3 % .
MasterCard’s (MA) US holiday sales figures, issued on Sunday, indicated an increase of 8.5 % from November 1 to December 24 compared to the 2020 holiday shopping season.
Oil prices rose, with front-month global benchmarks Brent crude up 0.7 % and West Texas Intermediate crude up 1%, as concerns about the impact of the COVID-19 omicron on gasoline demand subsided.
At 9 a.m. ET, data showed that the Case-Shiller Home Price Index increased by 0.8 % in October, compared to a 1% increase in September, which was less than the 0.9 % increase projected. According to Bloomberg statistics, the Federal Housing Finance Agency’s House Price Index increased by 1.1 % in October, compared to a 0.9 % increase the previous month, exceeding expectations for a 0.9 % increase.
The Richmond Fed Manufacturing Index is scheduled to be released at 10 a.m., with forecasts predicting an 11 value for December, which would be unchanged from the previous month.
Other foreign markets closed higher, with Japan’s Nikkei up 1.4 % , Hong Kong’s Hang Seng up 0.2 % , and China’s Shanghai Composite up 0.4 % . In Europe’s early afternoon session, Germany’s DAX index was up 0.7 % , while the UK stock market was closed for a public holiday.
- S&P 500 futures +0.3%
- Nasdaq futures +0.5%
- Dow futures +0.3%