Wall Street Aims To Bounce Back

(RTTNews) - Initial cues from the U.S. Futures Index suggest that Wall Street might open positive on Monday.

Asian shares finished lower, while European shares are trading mixed.

The dollar scaled higher. In the Asian trading session, oil prices jumped more than 4 percent. Brent crude futures for August delivery were up 4.4 percent at $97.16 a barrel.

Gold prices fell below $4,300 an ounce. Spot gold fell 0.9 percent to $4,290.78 an ounce

As of 7.50 am ET, the Dow futures were gaining 121.00 points, the S&P 500 futures were adding 46.50 points and the Nasdaq 100 futures were climbing 359.25 points.

The U.S. major averages ended Friday lower. The Nasdaq plunged 1,121.53 points or 4.2 percent to 25,709.43, the S&P 500 tumbled 200.57 points or 2.6 percent to 7,383.74 and the Dow slumped 695.15 points or 1.4 percent to 50,886.78.

On the economic front, the Six-month, three-month Treasury bills auction will be held at 11.30 am ET.

Existing Home Sales is scheduled on Tuesday at 10.00 am ET, while CPI is expected on Wednesday at 8.30 am ET. Jobless Claims will be published at 8.30 am ET.

Asian markets declined on Monday. China's Shanghai Composite index tumbled 1.70 percent to 3,959.34 and Hong Kong's Hang Seng index ended down 1.22 percent at 24,657.06.

Japanese markets slumped. The Nikkei average plunged 3.85 percent to 64,024.60. The broader Topix index settled 2.45 percent lower at 3,852.38.

Australian markets ended notably lower. The benchmark S&P/ASX 200 dropped 0.70 percent to 8,625.10 while the broader All Ordinaries index closed 0.68 percent lower at 8,855.90.

European shares are trading mostly down. Among the major indexes in the region, the CAC 40 Index of France is sliding 6.57 points or 0.08 percent. The German DAX is losing 93.84 points or 0.38 percent, the U.K. FTSE 100 Index is gaining 15.98 points or 0.15 percent.

The Swiss Market Index is down 26.53 points or 0.20 percent. The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.039 percent.