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Wall Street shares seen higher as Euro data cheers

The Dow Jones closed around eight lower at 17,492, while the S&P500 was around four points lower at 2,048 and the tech heavy Nasdaq index shed almost four points, to 4,765.

Pictured are two New York yellow cabs
Wall Street shares are poised to start higher on Tuesday

The buoyant mood in Europe is set to start the tone on Wall Street with stocks set to open higher.

It comes after shares closed on Monday lower, after failing to shake off convincingly concerns about rising Fed interest rates, while volumes were also low, partly on account of a market holiday on Canadian bourses.

The Dow Jones closed around eight lower at 17,492, while the S&P500  was around four points lower at 2,048 and the tech heavy Nasdaq index shed almost four points, to 4,765.

Futures trading today is pointing to a 52 point jump on open for the Dow Jones, the Nadsaq is up nearly 15, while the S&P500 is up 6.5 points.

New data showed that the Germany's economy grew by 1.3% in the first quarter compared to the same time last year, which is cheering traders, despite worries over the EU referendum vote in the UK, which is rapidly approaching.

In Europe, the German DAX is up around 75 at 9,917, while France's CAC 40 is ahead by 54 at 4,379. FTSE100 is up 0.56%, or 34 points to stand at 6,171.

In terms of company news Best Buy (NYSE: BBY) and AutoZone (NYSE: AZO) are reporting before the bell. Significantly, the European Commission could decide Tuesday whether to allow Anheuser-Busch InBev to buy SABMiller for around £68 billion ($99 billion).

Also expected is official new homes sales data later this morning, which will add to the picture of the strength of the economy.

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