|09-03-2014, 04:03 PM||#1|
Wall Street set for a solid open on Ukraine cease-fire news
Wall Street looked firmer early Wednesday, with the S&P 500 Index aiming for a new all-time high in the wake of an agreement between Kiev and Russia on a “cease-fire regime” in eastern Ukraine.
Ukraine’s President Petro Poroshenko said he had agreed on a permanent cease-fire on the Donbas region with Russian President Vladimir Putin.
Meanwhile, a Kremlin official said later that Moscow had not agreed on a truce, but instead had discussed the peace process, adding that Russia cannot negotiate a cease-fire with Ukraine, “because it is not a party to the conflict.”
Investors also awaited data on car sales and factory orders, and the monthly Beige Book.
U.S. stock futures were notably higher and European and Asian shares were significantly higher.
-Futures on the Dow Jones Industrial Average advanced 0.369 % to 17116
-Futures on the S&P 500 Index advanced 0.315 % to 2006.10
-Futures on the NASDAQ 100 advanced 0.287 % to 4103.75 . As of 07:36 a.m. ET
The U.S. dollar was in retreat after earlier hitting its highest in over 13 months. The U.S. Dollar Index, which tracks the value of the dollar against a basket of other major currencies, fell to 82.87, after having hit a higher of 83.05, the highest in July 16 of 2013.
10-year Treasury yields advanced 2.5 basis points to 2.446%.
On Tuesday, shares closed mostly lower, in spite of data that showed the country’s factories are in a decent shape.
On the economic front, car sales data will be filtering in throughout the day. At 10 a.m. Eastern Time, manufacturers’ shipments, inventories and orders for July are set for release. The Fed Beige Book is due out at 2 p.m. Eastern Time. These all serve as a prelude to the key nonfarm-payrolls report on Friday.
In individual shares, Toll Brothers Inc. said fiscal third-quarter earnings surged 110% to $97.7 million, or 53 cents a share, which pushed shares nearly 1% in premarket.
Concur Technologies Inc soared 10.45% in premarket after Bloomberg said late yesterday that the software company is considering a sale and has approached potential buyers.
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