Stocks Likely To Benefit From Easing Geopolitical Worries - U.S. Commentary

(RTTNews) - After moving mostly higher over the course of the previous week, stocks are likely to see some further upside in early trading on Monday. The major index futures are currently pointing to a notably higher open for the markets, with the Dow futures up by 88 points.

The upward momentum for the markets is largely due to easing geopolitical concerns amid news that officials from Ukraine and Russia met to discuss a possible truce.

Ukrainian Foreign Minister Pavlo Klimkin met his Russian counterpart Sergei Lavrov in Berlin, with Klimkin saying the talks had brought "moderate progress."

The easing worries about the conflict in Ukraine have led to a rally by stocks in Europe, contributing to the positive sentiment on Wall Street.

Not long after the open, the National Association of Home Builders is scheduled to release its report on homebuilder confidence in the month of August.

Economists expect the NAHB's housing market index to come in unchanged after climbing to a reading of 53 in the previous month.

Later in the week, trading could be impacted by the release of several key economic reports, including readings on consumer price inflation, housing starts, and existing home sales.

Traders are also likely to keep an eye on the minute of the latest Federal Reserve meeting, looking for indications regarding the outlook for monetary policy.

Fed Chair Janet Yellen and European Central Bank President Mario Draghi are also due to speak at the Kansas City Fed's annual symposium in Jackson Hole, Wyoming.

Stocks fluctuated over the course of the trading day on Friday before eventually ending the session mixed. The choppy trading came amid renewed geopolitical concerns as well as the release of a mixed batch of U.S. economic data.

The major averages ended the day on opposite sides of the unchanged line. While the Nasdaq rose 11.92 points or 0.3 percent to 4,464.93, the Dow fell 50.67 points or 0.3 percent to 1,662.91. The S&P 500 closed nearly flat, down just 0.12 points at 1,955.06.

For the week, the major averages all moved to the upside. The Nasdaq surged up by 2.2 percent, the S&P 500 jumped by 1.2 percent and the Dow advanced by 0.7 percent.