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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | The major U.S. index futures are pointing to a higher opening on Monday, with stocks likely to add to the strong gains posted last Friday.
The markets may continue to benefit from the upbeat employment data released last Friday despite lingering concerns about a potential trade war.
Stocks showed a strong move to the upside during trading on Friday as traders reacted to upbeat employment data. With the upward move on the day, the tech-heavy Nasdaq reached its best closing level in well over two months.
The major averages remained firmly positive going into the close of trading. The Dow advanced 219.37 points or 0.9 percent to 24,635.21, the Nasdaq spiked 112.21 points or 1.5 percent to 7,554.33 and the S&P 500 surged up 29.35 points or 1.1 percent to 2,734.62.
For the holiday-shortened week, the major averages turned in a mixed performance. While the Dow fell by 0.5 percent, the Nasdaq jumped by 1.6 percent and the S&P 500 rose by 0.5 percent.
The strength on Wall Street came following the release of a report from the Labor Department showing stronger than expected job growth in the month of May.
The Labor Department said non-farm payroll employment surged up by 223,000 jobs in May after climbing by a downwardly revised 159,000 jobs in April.
Economists had expected employment to increase by 188,000 jobs compared to the addition of 164,000 jobs originally reported for the previous month.
With the stronger than expected job growth, the unemployment rate edged down to 3.8 percent in May from 3.9 percent in April. The unemployment rate had been expected to come in unchanged.
The modest decrease pulled the unemployment rate down to its lowest level since a matching rate in April of 2000.
Additionally, the Institute for Supply Management released a report showing growth in manufacturing activity accelerated by more than expected in the month of May.
The ISM said its purchasing managers index climbed to 58.7 in May from 57.3 in April, with a reading above 50 indicating growth in the manufacturing sector. Economists had expected the index to rise to 58.1.
Stocks remained firmly positive late in the session as President Donald Trump revealed that his summit with North Korean leader Kim Jong Un is back on.
Trump told reporters that the meeting with the North Korean leader will indeed be held in Singapore on June 12th.
Last week, Trump called off the planned meeting with Kim, accusing North Korea of displaying "tremendous anger and open hostility."
Most of the major sectors moved to the upside on the day, although considerable strength was visible among computer hardware stocks. Reflecting the strength in the sector, the NYSE Arca Computer Hardware Index jumped by 2.4 percent.
Semiconductor stocks also showed a significant move to the upside, driving the Philadelphia Semiconductor Index up by 2.3 percent to its best closing level in over two months.
Steel, chemical, and biotechnology stocks also saw notable strength, while utilities stocks were among the few groups to buck the uptrend.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
At 10 am ET, the Commerce Department is scheduled to release its report on new orders for manufactured goods in the month of April. Factory orders are expected to drop by 0.5 percent. |
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| | Europe |
European stocks are broadly higher on Monday, with underlying sentiment supported by upbeat U.S. jobs data, easing of political tensions in Italy and Spain and fresh deal-making news.
While the U.K.?s FTSE 100 Index has climbed by 0.6 percent, the French CAC 40 Index is up by 0.3 percent and the German DAX Index is up by 0.2 percent.
On the data front, Eurozone investor sentiment deteriorated sharply in June, largely reflecting political uncertainties in Italy, survey data from think tank Sentix showed.
The investor confidence index slid to 9.3 in June from 19.2 in May. This was the lowest score since October 2016 and below the expected level of 19.0.
U.K. construction activity growth remained stable in May, survey data from IHS Markit and Chartered Institute of Procurement & Supply showed. The corresponding index held steady at 52.5, while economists expected it to drop to 51.8.
Compagnie Financiere Richemont has shown a notable move to the upside. The Swiss luxury goods group said that it has completed the sale of its wholly-owned subsidiary, Lancel, a French luxury leather goods company, to Piquadro S.p.A., an Italian leather goods group.
UniCredit shares have also moved higher. According to the Financial Times, the Italian bank is considering a merger with France's Societe Generale.
DS Smith has also rallied after announcing the proposed acquisition of Papeles y Cartones de Europa, S.A., known as Europac, a Western European integrated packaging business.
Lender CYBG has gained about 1 percent after it launched a revised offer to buy challenger bank Virgin Money.
On the other hand, France's AccorHotels has slumped after confirming an interest in buying a minority stake in Air France-KLM.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Most Asian stocks rose on Monday as upbeat jobs and manufacturing data from the U.S. bolstered optimism in the world's largest economy and U.S. President Donald Trump revealed that his summit with North Korean leader Kim Jong Un is back on.
Chinese stocks closed higher even as trade worries persisted after China warned that it will withdraw from commitments made so far on trade if Trump carries out his threat to impose tariffs on the country.
The benchmark Shanghai Composite Index rose 16.05 points or 0.5 percent to 3,091.19, while Hong Kong's Hang Seng Index jumped 505.07 points or 1.7 percent to close at 30,997.98.
Japanese shares hit a one-week high, with a weaker yen and solid data from the U.S. buoying investor sentiment. The Nikkei 225 Index surged up 304.59 points or 1.4 percent to 22,475.94, and the broader Topix Index closed 1.5 percent higher at 1,774.69.
Automaker Toyota rallied 3.9 percent on a brokerage upgrade and rivals Honda Motor and Nissan Motor rose around 2 percent. Tech shares also gained ground, with Tokyo Electron and TDK Corp climbing 2-4 percent.
Australian shares hit their highest level in ten days, with mining and financial stocks leading the surge as base metal prices strengthened and Commonwealth Bank agreed to settle a civil lawsuit.
Investors also cheered encouraging local economic data. While Australian retail sales rose 0.4 percent sequentially in April, beating forecasts for 0.3 percent growth, company operating profits in the country grew 5.9 percent in the first three months of 2018 after a 2.2 percent gain in the three months prior, separate reports showed.
The benchmark S&P/ASX 200 Index rose 35.10 points or 0.6 percent to 6,025.50, while the broader All Ordinaries Index ended up 34.60 points or 0.6 percent at 6,138.60.
Commonwealth Bank shares advanced 1.4 percent, although the other three big banks closed narrowly mixed ahead of RBA monetary policy decision out Tuesday.
Miners BHP Billiton, Fortescue Metals Group and Rio Tinto rose between 0.4 percent and 0.7 percent, helped by a rally in base metal prices Friday night.
Vicinity Centres jumped 2.6 percent after the shopping centre operator said it will sell up to A$1 billion of medium-sized and neighborhood shopping centers to fund development of prestige projects.
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| | Commodities |
Crude oil futures are sliding $0.41 to $65.40 a barrel after tumbling $1.23 to $65.81 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,301.10, up $1.80 from the previous session?s close of $1,299.30. On Friday, gold fell $5.40.
On the currency front, the U.S. dollar is trading at 109.49 yen compared to the 109.54 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1721 compared to last Friday?s $1.1659.
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