Wall Street Poised To Open Significantly Down
The initial trends of the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished lower, while European shares are trading down.
As of 7.50 am ET, the Dow futures were down 265.00 points, the S&P 500 futures were declining 32.50 points and the Nasdaq 100 futures were falling 102.25 points.
The U.S. major averages finished mixed on Monday. The Dow ended the session with a gain of 26.23 points or 0.07 percent at 35,307.63. The S&P 500 settled up 25.67 points or 0.58 percent at 4,489.72, while the Nasdaq closed with a gain of 143.48 points or 1.05 percent at 13,788.33.
On the economic front, the Commerce Department’s Retail Sales for July will be published at 8.30 am ET. The consensus is for growth of 0.4 percent, while it was up 0.2 percent in the prior month.
The Empire State Manufacturing Index for August will be issued at 8.30 am ET. The consensus is for a decline of 0.4, while it was up 1.1 in July.
The Labor Department’s Import and Export Prices for July will be published at 8.30 am ET. The consensus is for growth of 0.2 percent, while it was negative 0.2 percent in the prior month.
The Commerce Department’s Business Inventories for June will be revealed at 10.00 am ET. The consensus is for an increase of 0.2 percent, while it was up 0.2 percent in May.
The Housing Market Index for August is scheduled at 10.00 am ET. The consensus is 56, while it was up 56 in the prior month.
The Treasury International Capital Data for June will be issued at 4.00 pm ET. In the prior month, the net long-term securities transactions were up $25.8 billion.
Asian stocks ended mixed on Tuesday. China’s Shanghai Composite Index finished marginally lower at 3,176.18.
Hong Kong’s Hang Seng index fell 1.03 percent to 18,581.11.
Japanese shares advanced after data showed GDP grew for a third straight quarter in the April-June period. The Nikkei average rose 0.56 percent to 32,238.89. The broader Topix index settled 0.41 percent higher at 2,290.31.
Australian markets eked out modest gains. The benchmark S&P ASX 200 rose 0.38 percent to 7,305 while the broader All Ordinaries index ended 0.36 percent higher at 7,520.40.
European shares are trading lower. CAC 40 of France is down 98.10 points or 1.33 percent. DAX of Germany is declining 1273.62 points or 1.09 percent. The FTSE 100 of England is sliding 102.56 points or 1.36 percent. Swiss Market Index is down 134.05 points or 1.21 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.21 percent.
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