Wall Street Poised To Open In Red

U.S. Trade Deficit, Factory Orders as well as earnings might get special attention on Tuesday.

On the earnings front, Avis Budget (CAT), iRobot (IRBT), Mosaic (MOS), Rambus (RMBS), Sanmina (SANM), and Transocean (RIG) are among the companies releasing their quarterly results after the close of today’s trading.

According to reports, the FDA is poised to authorize Pfizer and BioNTech’s vaccine in children ages 12 to 15 by early next week.

Asian shares are trading mixed on Tuesday, while European shares are trading broadly up.

Initial signs from the U.S. Futures Index suggest that Wall Street might open lower.

As of 7.35 am ET, the Dow futures were declining 60.00 points, the S&P 500 futures were down 18.25 points, and the Nasdaq 100 futures were sliding 113.00 points.

Stocks moved mostly higher during trading on Monday. The major averages finished the day mixed. While the Nasdaq fell 67.56 points or 0.5 percent to 13,895.12, the Dow climbed 238.38 points or 0.7 percent to 34,113.23 and the S&P 500 rose 11.49 points or 0.3 percent to 4,192.66.

On the economic front, the International Trade in Goods and Services report for March will be issued at 8.30 am ET. The consensus is for a deficit of $74.0 billion, while it was down $71.1 billion last month.

The Redbook data for the week will be published at 8.55 am ET. In the prior week, the store sales were up 13.9 percent.

Factory Orders for March will be released at 10.00 am ET. The consensus is for an increase of 1.3 percent, while it was down 0.8 percent in February.

Asian stocks finished broadly on Tuesday. Hong Kong’s Hang Seng index climbed 199.60 points, or 0.70 percent, to 28,557.14.

China was closed for Labor Day. The Japanese markets were closed for Greenery Day.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 39.10 points, or 0.56 percent, to 7,067.90, while the broader All Ordinaries index ended up 36.70 points, or 0.50 percent, at 7,323.50.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 41.67 points or 0.66 percent. The German DAX is losing 48.58 points or 0.35 percent, the U.K. FTSE 100 Index is gaining 53.77 points or 0.75 percent.

The Swiss Market Index is losing 14.13 points or 0.13 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.070 percent.

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