Wall Street Looks Ahead To Build On Positive Lead

The market is again on a positive note. Starting with the Housing market Index to be released Monday morning, the market looks ahead to several important announcements in the housing segment in the coming days. Early trading on the U.S. Futures Index suggest that Wall Street might open higher. Asian shares closed higher, while European shares are trading in the green.

As of 7 am ET, the Dow futures were adding 56 points, the S&P 500 futures were climbing 5.00 points and the Nasdaq 100 futures were up 9.50 points.

U.S. stocks closed higher with the Dow and S&P 500 reaching new record closing highs. The Dow rose 64.86 points or 0.3 percent to 22,268.34, the Nasdaq climbed 19.38 points or 0.3 percent to 6,448.47 and the S&P 500 edged up 4.61 points or 0.2 percent to 2,500.23.

On the economic front, the Housing Market Index for September will be released at 10.000 am ET. The economists are looking for consensus of 65, compared to 68 in the previous month.
The Treasury International Capital data that track the flows of financial instruments into and out of the United States for July will be issued at 4.00 pm ET. In the prior period, the foreign demand for long term U.S. securities was $34.4 billion.

In the corporate sector, Seagate Technology plc announced the signing of a strategic cooperation agreement with Chinese language internet search provider Baidu in information technology, big data analysis and advanced storage system development and implementation.

Northrop Grumman Corp. said Monday that they entered into a definitive agreement to acquire Orbital ATK for approximately $7.8 billion in cash, plus the assumption of $1.4 billion in net debt. Orbital ATK shareholders will receive all-cash consideration of $134.50 per share. The transaction is expected to close in the first half of 2018.

IPSEY announced that the Food and Drug Administration or FDA has approved a supplemental indication for Somatuline Depot Injection 120 mg for the treatment of carcinoid syndrome. It is found to reduce the frequency of short-acting somatostatin analogue rescue therapy.

Asian stocks rose broadly on Monday. China’s Shanghai Composite index rose 9.24 points or 0.28 percent to 3,362.86 after the release of stronger-than-expected bank loan data for August. Hong Kong’s Hang Seng index climbed 352.18 points or 1.27 percent to close at 28,159.77.

Australian shares eked out modest gains. The benchmark S&P/ASX 200 index rose 0.45 percent to 5,720.60, snapping three straight sessions…

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