The major indices are set to open higher after the Labor Day holiday on Monday in the US. Recall the S&P and Dow industrial average fell 4 of the 5 trading days last week. The NASDAQ index is working on a 6 day losing streak.
The futures are implying gains this morning:
- Dow industrial average up 172.56 points after Friday's -337.98 point decline
- S&P index is up 21.99 points after Friday's -42.59 point decline
- NASDAQ index is up 54.81 points after Friday's -154.26 point decline
At 9:45 AM, the S&P Global PMI service index will be released. The expectations is for 44.3 vs. 44.1
Following that, at 10 AM the more followed ISM nonmanufacturing index will be released with the expectations of the 55.1 vs. 56.7