Wall Street Might Continue In Positive Zone

(RTTNews) - Initial cues from the U.S. Futures Index suggest that Wall Street might open positive on Tuesday.

President Donald Trump said he was hopeful of a deal when he sees Chinese Leader Xi Jinping on Thursday.

Trump has signed a rare metals deal with Japan's Prime Minister Sanae Takaichi.

The ASEAN and China signed an upgraded version of their Free Trade Agreement at Kuala Lumpur Summit in Malaysia.

In the Asian trading session, the dollar was weak. Gold fell more than 1 percent to reach around $3,900 an ounce. Oil extended a two-day drop.

As of 8.15 am ET, the Dow futures were adding 218.00 points, the S&P 500 futures were up 8.00 points and the Nasdaq 100 futures were adding 49.50 points.

The U.S. major averages gained at the close on Monday. The Nasdaq surged 432.59 points or 1.9 percent to 23,637.46, the S&P 500 jumped 83.47 points or 1.2 percent to 6,875.16 and the Dow climbed 337.47 points or 0.7 percent to 47,544.59.

On the economic front, the Case-Shiller Home Price Index for August will be released at 9.00 am ET. The consensus is for a decline of 0.1 percent, while it was down 0.1 percent in the prior month.

The Federal Housing Finance Agency or FHFA's House Price Index for August will be issued at 9.00 am ET. In the prior month, the House Price Index was down 0.1 percent.

The Conference Board's Consumer Confidence for October will be published at 10.00 am ET. The consensus is 93.4, while it was 94.2 in September.

The Richmond Fed Manufacturing Index for October will be revealed at 10.00 am ET. In the prior month, the Index was minus 17.

Seven-year Treasury Note auction will be held at 1.00 pm ET.

The Fed Money Supply for September is scheduled at 1.00 pm ET. In the prior month, the M2 level was $22,195.4 billion.

Asian stocks fell on Tuesday. China's Shanghai Composite index dropped 0.22 percent to 3,988.22 and Hong Kong's Hang Seng index dipped 0.33 percent to 26,346.14.

Japanese markets slipped. The Nikkei average settled 0.58 percent lower at 50,219.18. The broader Topix index fell 1.18 percent to 3,285.87.

Australian markets declined. The benchmark S&P/ASX 200 slipped 0.48 percent to 9,012.50. The broader All Ordinaries Index closed 0.60 percent lower at 9,295.80.