Wall Street Might Open Positive, Despite Geopolitical Tensions

Inflation concerns and geopolitical tensions might continue to weigh on Monday.

Iran's drone attack against Israel and the Middle East tensions are closely monitored by investors. In the Asian trading session, oil prices fell slightly, as there is a fear that Brent might surpass $100 a barrel.

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

As of 7.50 am ET, the Dow futures were up 211.00 points, the S&P 500 futures were adding 27.75 points and the Nasdaq 100 futures were progressing 110.00 points.

The U.S. major averages all ended in the red on Friday. The Dow ended with a loss of 475.84 points or 1.24 percent at 37,983.24. The S&P 500 drifted down 75.65 points or 1.46 percent to 5,123.41, while the Nasdaq settled at 16,175.09 with a loss of 267.10 points or 1.62 percent.

On the economic front, the retail sales for March will be released at 8.30 am ET. The consensus is 0.4 percent, while it was up 0.6 percent in the prior month.

The Empire State Manufacturing Index for April is scheduled at 8.30 am ET. The consensus is for minus 5.1, while it was minus 20.9 in March.

The Business Inventories for February will be published at 10.00 am ET. The consensus is 0.4 percent, while it was 0.0 percent in January.

The Housing Market Index for April will be issued at 10.00 am ET. The consensus is 51, while it was at 52 in March.

The 6-month Treasury bill auction will be held at 11.30 am ET.

San Francisco Fed President Mary Daly will speak before hybrid Associates Meeting of the 2024 Stanford Institute for Economic Policy Research at 8.00 pm ET.

Asian stocks retreated on Monday. The benchmark Shanghai Composite index jumped 1.26 percent to 3,057.38 while Hong Kong's Hang Seng index settled 0.72 percent lower at 16,600.46.

Japanese markets fell notably. The Nikkei average ended down 0.74 percent at 39,232.80. The broader Topix index settled 0.23 percent lower at 2,753.20.

Australian markets finished lower. The benchmark S&P ASX 200 slipped 0.46 percent to 7,752.50 while the broader All Ordinaries index ended down 0.51 percent at 8,009.40.

European shares are trading mostly higher. CAC 40 of France is adding 78.25 points or 0.98 percent. DAX of Germany is progressing 176.65 points or 0.99 percent. FTSE 100 of England is down 6.27 points or 0.08 percent. The Swiss Market Index is up 61.51 points or 0.54 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.15 percent.

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