Wall Street Might Open Moderately Positive

(RTTNews) - Geopolitical developments might get attention on Monday. A slew of major corporates have scheduled their quarterly earnings reports in the next days. The Fed's monetary policy announcement will be closely monitored by investors this week.

The concerns on the government shutdown is continuing. Meeting between Presidents Donald Trump, Chinese Premier Xi Jinping and other Asian leaders will take place these days.

The U.S. might withdraw the 100 percent tariffs imposed on Chinese goods and allow for a deferral of China's rare earths export controls.

In the Asian trading session, the dollar was steady. Gold fell more than 1 percent toward $4,000 an ounce. Oil edged down slightly.

As of 8.10 am ET, the Dow futures were gaining 224.00 points, the S&P 500 futures were adding 56.00 points and the Nasdaq 100 futures were progressing 330 points.

The U.S. major averages remained in positive territory at the close on Friday. The Dow jumped 472.51 points or 1.0 percent to 47,207.12, the Nasdaq surged 263.07 points or 1.2 percent to 23,204.87 and the S&P 500 climbed 53.25 points or 0.8 percent to 6,791.69.

On the economic front, the Durable Goods Orders for September will be issued at 8.30 am ET. The consensus is for an increase of 0.1 percent, while it was up 2.9 percent in the prior month.

The Dallas Fed Manufacturing Survey for October will be released at 10.30 am ET. In the prior month, the general activity index was down 8.7.

Two-year Treasury Note auction will be held at 11.30 am ET.

Five-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks advanced on Monday. China's Shanghai Composite index rallied 1.18 percent to 3,996.94.

Hong Kong's Hang Seng index surged 1.05 percent to 26,433.70.

Japanese markets soared to a record high. The Nikkei average jumped 2.46 percent to 50,512.32. The broader Topix index settled 1.70 percent higher at 3,325.05.

Australian markets ended modestly higher. The benchmark S&P/ASX 200 rose 0.41 percent to 9,055.60 while the broader All Ordinaries index closed 0.37 percent higher at 9,351.90.