Tuesday November 22nd

22-11-2016

Wall Street set to continue bullish run after record highs

U.S. stock index futures pointed to a higher open on Tuesday after the four major market indexes all closed at record highs in the previous session. Energy stocks led the gains on Monday, rising 2 percent while crude oil jumped about 4 percent as optimism grew that OPEC and other producers would come to an agreement on production. The S&P 500, Russell 2000, Nasdaq and Dow all closed at record highs. On the data front, Tuesday will see existing home sales for October as well as a Richmond Fed survey for November, both released at 10 a.m. ET. On the earnings front, Campbell Soup, Medtronic and Hormel Foods reported quarterly results. Meanwhile, Hewlett Packard Enterpriese, HP Inc and Urban Outfitters are due to report after the bell. In Europe, the pan-European Stoxx 600 index was around 0.44 percent higher on Tuesday morning. In Asia, the Shanghai Composite in China closed 0.98 percent higher, while the Nikkei in Japan closed 0.31 percent higher too. In oil markets, Brent crude traded at around $48.02 a barrel on Tuesday, down 0.5 percent, while U.S. crude was around $48.82 a barrel, down 0.2 percent. Gold prices rose for a second day on Tuesday supported by an easing U.S. dollar and physical buying in Asia. Spot gold was up 0.2 percent at $1,216.51 an ounce by 7:28 a.m. EDT. In the previous session, the metal rose 0.4 percent, reversing three sessions of losses. U.S. gold futures were up 0.5 percent at $1,216.50 per ounce, after reaching as high as $1,220.90 earlier.