US futures foreshadow positive trading on Wall Street on May 3, 2021
Investors from the Asia-Pacific region are keeping an eye on the COVID-2019 situation in India as the country continues to struggle with the second wave of infection. Over the past weekend, more than 400 thousand new cases of the disease were registered - this is a new anti-record. Hong Kong's Hang Seng index fell 1.34% to 28,339.87 points, while Korea's KOSPI fell 0.66% to 3,127.2 points. Markets in mainland China and Japan are closed on Monday due to the holidays. Oil prices are also declining: Brent futures fell by 0.12% to $66.63 per barrel, Light - by 0.2% to $63.45. The slowdown in business activity in China, as well as the difficult situation with the coronavirus in India, are putting pressure on prices. US and European index futures are rising ahead of the first trading day in May. Futures for the US S&P index are up 0.53%, investors have bet on a significant recovery in the economy and profits after the pandemic.
Today, investors will be watching the US manufacturing PMI data for April, as well as reports from Lowe's, Estee Lauder and ON Semiconductor. Futures for the pan-European STOXX Europe 600 Index rose 0.55%, following the US Dollar.
The UK market is closed today.