Cash markets in Wall Street set for a positive opening as the Nasdaq, S&P 500 and Dow Jones futures trading higher after White Houses advisor Kudlow said that a trade deal is coming soon. Encouraging macro data might further boost the sentiment in Wall Street. US Retail Sales report for October will be out at 1330 GMT and is expected to rebound from disappointing figures in September.
Analysts expect US retail sales to register a 0.3% gain in October, the September reading came in at -0.3% below the market consensus of 0.2%. Weak auto sales will keep sales subdued for October despite solid consumer spending.
The Empire Manufacturing index may hit a six-month high in November, despite a slower industrial production in October, and higher business inventories.
Even worse macro data wouldn’t hurt sentiment, as stock investors know that the Fed has got their back either way.