US futures indicate that Wall Street will open modestly higher after the long weekend as investors continue to eye geopolitical risks and earnings amid light trade.
S&P 500 futures were up 0.2 per cent to 2,331.25, while Dow futures were also up by the same margin to 20,455. Meanwhile, Nasdaq futures rose were up 0.2 per cent to 5,370.75. Trading is expected to remain muted and comes after European and the UK markets were closed for the Easter holiday.
Geopolitics continue to grab investor attention with President Recep Tayyip Erdogan claiming victory in Turkey’s referendum on Sunday, on a new constitution that will hand him sweeping powers, even as opposition continued to demand a recount.
Moreover, tensions between Washington and Pyongyang have increased in recent weeks and North Korea’s failed missile launch over the weekend prompted US vice president Mike Pence to warn the country not to test President Donald Trump’s resolve. Mr Pence began his four-nation Asia tour with a visit to South Korea.
Investors are also watching results from corporate America with Johnson & Johnson, Netflix, Bank of America and Goldman Sachs among the more than 50 companies on the S&P 500 reporting results this week.
Demand for so-called haven assets eased with the yield on the US 10-year, which moves inversely to price, down 0.5 basis points to 2.232 per cent. Meanwhile, gold prices were flat at $1,286.15 a troy ounce.
Elsewhere, the DXY dollar index, a gauge of the buck against a basket of peers, fell 0.3 per cent.