Monday April 3rd

3-04-2017

Wall Street set to open cautiously higher as investors eye world stocks and fresh data

U.S. stock index futures pointed to a marginally higher open on Monday as markets around the world start the second quarter on a positive note. Stocks closed lower on Friday, with the Dow falling around 65 points. However, the three indexes finished the first quarter higher, rising by at least 4.6 percent. The Nasdaq enjoyed its best quarter since 2013, rising more than 12 percent. On the data front, Monday will see the release of the latest ISM manufacturing index reading at 10 a.m. ET. The index rose to 57.7 in February and is expected to inch lower to 57.5 in March. Construction spending and vehicle sales data will also be released. There are no significant earnings reports expected on Monday. In Europe, the pan-European Stoxx-600 index was around 0.13 percent higher on Monday. In Asia, the Shanghai Composite in China and the Nikkei in Japan both closed 0.39 percent higher. In oil markets, Brent crude traded at around $53.68 a barrel on Friday, up 0.28 percent, while U.S. crude was around $50.79 a barrel, up 0.38 percent. Gold prices fell on Monday on a firm dollar and as investors booked profits after bullion recorded its best quarter in a year on Friday. Spot gold edged lower by 0.21 percent to $1,246.06 per ounce, while U.S. gold futures slipped 0.21 percent to $1,248.60.