With a full day of economic and corporate data scheduled, stocks are set to open moderately higher.
Yesterday, the Dow Jones average (INDEXDJX:.DJI) finished down 0.1% at 17,756, while the broader-based S&P 500 (INDEXSP:.INX) was barely changed at 2,089 and the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) declined 0.4% to 5,074.
This morning, the Dow is poised to open around 30 points higher while the S&P is tipped to nudge up almost three points, according to spread betting quotes.
Asian shares had a good session overnight with the Nikkei 225 in Japan 165 points higher at 19,016 as the Central Bank there kept monetary policy on hold.
The Shanghai Composite Index in China added 21 to 3,408 as the country’s decision to replace the 35-year-old one-child policy with a two-child policy prompted investors to snap up any shares relating to babies – from diapers and body-care products to baby food and infant milk formula, Bernard Aw at IG said.
In the US, First Solar (NASDAQ:FSLR) is set to be a bright spot after the solar panel maker topped expectations with earnings announced after the bell last night.
Travel web site operator Expedia (NASDAQ:EXPE) is also surging in pre-market reading on the back of its forecast beating earnings, also released last night.
Financial services firm Genworth (NYSE:GNW), by contrast, looks set to fall out of bed with a bump after a disappointing quarterly update.
A big day is in store for big oil, with both Exxon Mobil and Chevron due to report.
Diary
Companies: AbbVie; Aon; Chevron; Colgate-Palmolive Co; CVS Health; Eaton; Exelon; Exxon Mobil; Iron Mountain; Legg Mason; Moody's; Mylan NV; Newell Rubbermaid; Phillips 66; Pinnacle West Capital; Public Service Enterprise Group; Rockwell Collins; Seagate Technology; Welltower; Weyerhaeuser
Economic: Chicago purchasing managers' index; Employment cost index; Personal spending; UoM consumer sentiment