FX.co ★ Wall Street Might Open Moderately Up

Investors may turn to geopolitical developments on Monday due to a lack of significant economic announcements. Early indicators from the U.S. Futures Index hint at a modestly positive opening for Wall Street.

By 8:00 AM ET, Dow futures remained flat, while S&P 500 futures increased by 12 points and Nasdaq 100 futures advanced by 95 points.

On Friday, U.S. major averages closed higher. The Dow climbed 574.84 points or 1.5 percent to 38,686.32, the S&P 500 gained 42.03 points or 0.8 percent to 5,277.51, and the tech-heavy Nasdaq dipped 2.06 points to 16,735.02.

For economic data, the PMI Manufacturing Final for May is scheduled for release at 9:45 AM ET. The consensus is 50.9, compared to 50.0 the previous month. At 10:00 AM ET, the ISM Manufacturing Index for May will be published, with an expected value of 49.8, slightly higher than the previous month's 49.2. Also at 10:00 AM ET, the Construction Spending report for April is due, with a consensus forecast of a 0.2 percent increase, following a 0.2 percent decline in March. Additionally, a six-month Treasury bill auction is set for 11:30 AM ET.

In Asia, stock markets rallied on Monday. Chinese equities finished slightly lower, with the Shanghai Composite Index declining 0.27 percent to 3,078.49. HHowever, Hong Kong's Hang Seng Index surged 1.79 percent to 18,403.04.

Japanese markets experienced significant gains, with the Nikkei 225 rising 1.13 percent to 38,923.03 and the broader Topix Index increasing by 0.92 percent to 2,798.07.

In Australia, stocks also performed well. The benchmark S&P/ASX 200 advanced 0.77 percent to 7,761, while the broader All Ordinaries Index closed up 0.67 percent at 8,024.10.