Wall Street Targets To Open Positive Despite Geopolitical Tension

Trading on Tuesday may be impacted by geopolitical developments and the latest U.S. economic data. Durable Goods Orders and Consumer Confidence data might of interest to investors.

The Middle East tensions and Russia boosting crude oil prices might result in inflation concerns.

Early signs from the U.S. Futures Index suggest that Wall Street might open positive.

As of 7.55 am ET, the Dow futures were up 79.00 points, the S&P 500 futures were adding 20.00 points and the Nasdaq 100 futures were progressing 95.75 points.

The U.S. major averages finished lower on Monday. The tech-heavy Nasdaq fell 44.35 points or 0.3 percent to 16,384.47. The S&P 500 dipped 15.99 points or 0.3 percent to 5,218.19 and the Dow slid 162.26 points or 0.4 percent to 39,313.64.

On the economic front, the Durable Goods Orders for February will be issued at 8.30 am ET. The consensus is for an increase of 1.3 percent, while it was down 6.1 percent in the prior month.

The Case-Shiller Home Price Index for January will be released at 9.00 am ET. The consensus is for an increase of 0.2 percent, while it was up 0.2 percent in December.

The Federal Housing Finance Agency (FHFA) House Price Index or HPI for January will be revealed at 9.00 am ET. In the prior month, the price index was up 0.1 percent.

The Consumer Confidence for March is scheduled at 10.00 am ET. The consensus is for an increase of 106.7, while it was up 106.7 in the previous month.

The Richmond Fed Manufacturing Index for March is expected at 10.00 am ET. In February the index was down 5.

The 5-year Treasury Note Auction will be held at 1.00 pm ET.

The Fed Money Supply for February is scheduled at 1.00 pm ET. In the prior month, the M2 Level was $20,781.8 billion.

Asian stocks turned in a mixed performance on Tuesday. Chinese markets ended on a positive note. China's Shanghai Composite index inched up 0.17 percent to 3,031.48 while Hong Kong's Hang Seng index jumped 0.88 percent to close at 16,618.32.

Japanese markets finished on a flat note. The Nikkei average ended marginally lower at 40,398.03 while the broader Topix index edged up 0.11 percent to 2,780.80.
Australian stocks closed lower. The benchmark S&P/ASX 200 dropped 0.41 percent to 7,780.20 while the broader All Ordinaries index settled 0.43 percent lower at 8,036.70.

European shares are trading higher. CAC 40 of France is up 19.28 points or 0.24 percent. DAX of Germany is adding 120.35 points or 0.66 percent. FTSE 100 of England is progressing 6.92 points or 0.09 percent. The Swiss Market Index is up 51.16 points or 0.44 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is gaining 0.41 percent.

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