Wall Street Optimistic Despite Geopolitical Uncertainties

(RTTNews) - Trading in the U.S. futures suggest that Wall Street stocks may open higher on Friday even as geopolitical concerns remain amid the stand-off between Russia and the Western nations. Global cues are positive, with Asian stocks closing higher, while the European markets are also gaining ground. With little economic catalysts to digest, save some Fed speeches, the markets may go about a consolidation move.

At 6:15 am ET, the Dow futures are adding 46 points, the S&P 500 futures are moving up 5.50 points and the Nasdaq 100 futures are up 12 points.

U.S. stocks rebounded on Thursday amid the release of some positive economic data, as Fed fears receded.

On the economic front, St Louis Federal Reserve Bank President James Bullard is scheduled to speak on nominal GDP in Washington at 11:45 am ET. Minneapolis Federal Reserve Bank President Narayana Kocherlakota and Bank of England Executive Director Spencer Dale will be on a panel in Washington at 4:30 pm ET. Additionally, Federal Reserve Governor Jeremy Stein is due to speak to the International Research Forum on Monetary Policy in Washington at 6:30 pm ET.

In corporate news, Nike (NKE) reported third quarter earnings per share from continuing operations of 76 cents per share on revenues from continuing operations of $7 billion, up 13 percent. Worldwide future orders for the period from March 2014 through July 2014 totaled $10.9 billion, up 12 percent year-over-year. The results exceeded estimates.

Shoe Carnival (SCVL) reported fourth quarter earnings and revenues that trailed expectations and issued weak guidance for the first quarter.

TIBCO Software (TIBX) reported first quarter non-GAAP earnings of 19 cents per share on revenues of $252.9 million. The results exceeded estimates.

AAR Corp. (AIR) reported third quarter income of 45 cents per share on consolidated sales of $474.4 million. The results trailed expectations. The company lowered its 2014 earnings guidance to $1.79-$1.82 per share on revenues of $2 billion to $2.05 billion.

Air Products (APD) raised its quarterly dividend to 77 cents per share, up 8 percent.

Symantec (SYMC) announced that its board has appointed board member Michael Brown as its interim president and CEO, effective immediately, following the termination of Steve Bennett as its CEO. The company also said it will immediately begin the search for a permanent CEO.

Following its failure to pass the Federal Reserve's stress test, Zions Bancorp. (ZION) said it resubmit its capital plan to the Federal Reserve and that the re-submission will contain additional actions that will further reduce risk and increase its equity capital to satisfy the minimum capital ratio.

The major Asian markets closed mostly higher, with the positive close on Wall Street overnight generating some buying interest. The Japanese market remained closed for a public holiday, while the New Zealand and Taiwanese markets retreated.

Australia's All Ordinaries opened higher and advanced steadily throughout the session before closing up 41.30 points or 0.78 percent at 5,354. Most sectors advance, with energy, financial, healthcare and material stocks seeing notable strength.

Hong Kong's Hang Seng Index closed at 21,437, up 254.54 points or 1.20 percent, and China's Shanghai Composite Index ended 54.14 points or 2.72 percent at 2,048.

On the economic front, the Conference Board's leading economic indicators index for Australia showed a slowdown in growth in January. The index rose just 0.2 percent month-over-month, down from the upwardly revised 0.9 percent gain in December. Nevertheless, the reading marked the sixth straight month of growth.

After starting on a nervous note, European stocks have moved decisively higher.

On the economic front, the U.K. Office for National Statistics reported that public sector net borrowings, excluding interventions, rose to 9.3 billion pounds in February from 6.5 billion pounds in the year ago period.

The current account surplus for the eurozone increased in January, driven by higher surpluses on goods and services, according to data published by the European Central Bank. The current account surplus rose to a seasonally adjusted 25.3 billion euros from a 20 billion euro-surplus a month ago.