Wall Street Set To Open In Negative
(RTTNews) – Reaction to economic reports as well as earnings reports might be the focus on Tuesday. Tesla ((TSLA)), Logitech (LOGI), and F5 Networks (FFIV) are the major companies releasing their quarterly results after the close of today’s trading.
As of 8.00 am ET, the Dow futures were sliding 86.00 points, the S&P 500 futures were down 7.50 points, and the Nasdaq 100 futures were adding 2.00 points.
Asian shares finished mixed, while European shares are trading down.
Initial signs from the U.S. Futures Index suggest that Wall Street might open mostly lower.
The U.S. major averages all finished Monday in positive territory, although the Nasdaq inched up just 3.72 points or less than a tenth of a percent to 14,840.71. The Dow rose 82.76 points or 0.2 percent to 35,144.31 and the S&P 500 edged up 10.53 points or 0.2 percent to 4,422.30.
On the economic front, Durable Good Orders for June will be issued at 8.30 am ET. The consensus is for an increase of 2.1 percent, while it was up 2.3 percent in the previous month.
The Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, is scheduled at 8.55 am ET. In the prior week, the Store Sales were up 15 percent.
Case-Shiller Home price Index for May will be published at 9.00 am ET. The consensus is for an increase of 1.5 percent, while it was up 1.6 percent in the prior month.
Federal Housing Finance Agency or FHFA’s Housing price Index for May will be released at 9.00 am ET. The consensus is for an increase of 1.8 percent, while it was up 1.8 percent in April.
The Conference Board’s Consumer Confidence for July will be published at 10.00 am ET. The consensus is for 124.9, while it was up 127.3 in the prior month.
A five-year Treasury Note Auction will be held at 1.00 pm ET.
The Fed Money Supply for June will be released at 1.00 pm ET. In the prior month, the M2 money supply was $251.3 billion.
Asian stocks ended mixed on Tuesday. Chinese stocks fell sharply. The benchmark Shanghai Composite index ended down 86.26 points, or 2.49 percent, at 3,381.18 after spending much of the morning in positive territory.
Hong Kong’s Hang Seng index plunged as much as 1,105.89 points, or 4.22 percent, to 25,086.43.
Japanese shares advanced. The Nikkei average rose 136.93 points, or 0.49 percent, to 27,970.22, failing to end above the 28,000 key psychological level for a second straight session. The broader Topix index closed 0.64 percent higher at 1,938.04.
Australian markets eked out modest gains. The benchmark S&P/ASX 200 hit another record high before ending the session up 37.10 points, or half a percent, at 7,431.40.
The broader All Ordinaries index inched up 33.50 points, or 0.44 percent, to 7,704 as Victoria State looked set to ease its COVID-19 lockdown restrictions as planned from Tuesday night.
European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is losing 14.00 points or 0.21 percent. The German DAX is sliding 74.15 points or 0.47 percent, the UK. FTSE 100 Index is declining 27.63 points or 0.39 percent.
The Swiss Market Index is declining 24.07 points or 0.20 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.47 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.