July 14, 2014- Stocks Advance on Positive Global Cues

Trading in the major U.S. index futures suggests that Wall Street stocks may open notably higher on Monday. Global cues are positive, with Asian stocks closing mostly higher, while the European markets are also seeing strength. Crude oil prices are weaker as supply concerns ease and gold prices are also lower due to rise in risk appetite. The domestic markets could sustain the early momentum if Citi turns in encouraging quarterly results, suggesting a robust season for bank earnings. Although the day's economic calendar is fairly empty, several first-tier events/reports are due for the remaining sessions of the week. The Dow futures are rising 58 points, the S&P 500 futures are moving up 6.50 points and the Nasdaq 100 futures are adding 19.50 points. U.S. stocks reversed course in the week ended July 11th, as overbought fears and signs of troubles brewing in the banking system of Portugal pushed traders to the defensive.