BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Traders are also likely to keep an eye on Federal Reserve Chairman Jerome Powell's testimony before the Senate Banking Committee and the House Financial Services Committee.
Earlier signs from the U.S. Futures index suggest that Wall Street might open moderately higher on Monday. U.S. President Trump's plan to meet Chinese Premier Xi Jinping is adding enthusiasm to investors. The markets would react to Trump's comment that North Korea would be one of the world's great economic powers if it relinquishes nuclear power.
Asian shares finished mostly higher, while European shares are trading broadly up.
Major corporates such as Home Depot, Macy's, Toll Brothers, Best Buy, Campbell Soup, Lowe's , Office Depot, HP Inc., J.C. Penney, and Gap will be reporting in the next days.
Federal Reserve Chairman Jerome Powell will deliver semiannual monetary policy report on Wednesday.
As of 7.55 am ET, the Dow futures were gaining 156.00 points, the S&P 500 futures were adding 13.25 points and the Nasdaq 100 futures were up 49.00 points.
The major averages fluctuated late in the session but ended the day firmly positive. The Dow climbed 181.18 points or 0.7 percent to 26,031.81, the Nasdaq jumped 67.84 points or 0.9 percent to 7,527.54 and the S&P 500 rose 17.79 points or 0.6 percent to 2,792.67.
On the economic front, Chicago Fed National Activity Index for January will be published at 8.30 am ET. The consensus is for 0.13, down from 0.27 in the previous week.
Wholesale Trade for December will be issued at 10.00 am ET. The consensus is for an increase of 0.3 percent, unchanged from the prior month.
Dallas Fed Manufacturing Survey report for February will be published at 10.30 am ET. The consensus for general activity index is an increase of 4.8, while it grew 1.0 in the previous month.
Two year Treasury Note auction will be held at 11.30 am ET and Five year Treasury Note auction will be held at 1.00 pm ET.
Asian stocks rose broadly on Monday. Chinese shares soared. The benchmark Shanghai Composite index jumped as much as 157.06 points or 5.6 percent to 2,961.28 to enter a bull market, while Hong Kong's Hang Seng index ended up by half a percent at 28,959.30.
Japanese shares advanced after snapping a four-session winning streak to end lower on Friday. The Nikkei average rose 102.72 points or 0.48 percent to 21,528.23, marking a ten-week high as investors monitored ongoing U.S.-China trade talks. The broader Topix index closed 0.71 percent higher at 1,620.87.
Australian markets rose. The benchmark S&P/ASX 200 index gained 19 points or 0.31 percent to finish at 6,186.30 while the broader All Ordinaries index ended up 21.70 points or 0.35 percent at 6,263.60.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 14.63 points or 0.28 percent, the German DAX is gaining 38.88 points or 0.34 percent, the U.K. FTSE 100 Index is declining 13.65 points or 0.19 percent. The Swiss Market Index is adding 28.57 points or 0.31 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.25 percent.
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