Wall Street Poised To Open Broadly Up

The debt ceiling negotiations might be the focus on Tuesday. Reports on retail sales and industrial production might also get the attention of investors.

Ukraine’s capital Kyiv has been witnessing continuous air raids and missile attacks. Russia is probably trying to keep down the Ukraine offensive.

Early signs from the U.S. Futures suggest that Wall Street might open mostly up.

Asian shares finished in negative territory, while European shares are trading broadly positive.

As of 7.40 am ET, the Dow futures were down 96.00 points, the S&P 500 futures were declining 6.75 points and the Nasdaq 100 futures were sliding 7.75 points.
The U.S. major averages all finished Monday in positive territory. The Nasdaq climbed 80.47 points or 0.7 percent to 12,365.21, the S&P 500 rose 12.20 points or 0.3 percent to 4,136.28 and the Dow inched up 47.98 points or 0.1 percent to 33,348.60.

On the economic front, the housing market index for May will be released at 10.00 am ET. The consensus is 45, while it was up 45 in April.

The Commerce Department’s Retail Sales for April will be issued at 8.30 am ET. The consensus is 0.7 percent, while it was down 1.0 percent in the prior month.

The Fed Industrial Production for April will be revealed at 9.15 am ET. The consensus is 0.0 percent, while it was up 0.4 percent in the prior month.

The Commerce Department’s Business Inventories for March is scheduled at 10.00 am ET. The consensus is 0.0 percent, while it was up 0.2 percent in February.

The Housing Market Index for May is expected at 10.00 am ET. The consensus is 45, while it was up 45 in the previous month.

Asian stocks ended mixed on Tuesday. Chinese shares ended lower. The benchmark Shanghai Composite index dropped 0.60 percent to 3,290.99 while Hong Kong’s Hang Seng index ended marginally higher at 19,978.25.

Japanese shares rose notably. The Nikkei average climbed 0.73 percent to 29,842.99. The broader Topix index settled 0.58 percent higher at 2,127.18.

Australian stocks fell today. The benchmark S&P/ASX 200 dropped 0.45 percent to 7,234.70 while the broader All Ordinaries index closed 0.49 percent lower at 7,424.10.

European shares are trading mostly lower. CAC 40 of France is up 0.29 points or 0.00 percent. DAX of Germany is adding 18.01 points or 0.11 percent. FTSE 100 of England is progressing 3.04 points or 0.04 percent. Swiss Market Index is declining 16.48 points or 0.14 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.11 percent.

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