Wall St eyes higher open as investors await Fed rate verdict, more earnings

Oct 30 - Wall Street was poised for a higher open on Monday ahead of a busy week of earnings and interest rate decisions from major central banks including the Federal Reserve, while investors shrugged off concerns about the Middle East conflict.

"On Friday going into this ground offensive, investors were really risk averse. So now because the offensive is not as big as everyone expected, on the margin this is good news for markets," said Anthi Tsouvali, multi-asset strategist at State Street Global Markets. Adding to bond market worries, the U.S. Treasury is likely to boost the size of auctions for bills, notes, and bonds in the fourth quarter when it announces its financing plans this week to fund a worsening budget deficit. A subsequent rise in yields may further pressure stocks.

The October non-farm payrolls report due on Friday will be amongst the latest tests of the resilience of the world's largest economy. Apple , Pfizer and Eli Lilly would be some of the major Wall Street companies reporting later in the week.

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Futures advance as investors await Fed rate verdict; more earnings on tapKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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