Wall Street Poised To Open Negative

Earnings, as well as Labor Productivity and Costs for the second quarter, might be major points of attention on Tuesday.

Early cues from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mostly higher, while European shares are trading lower.

As of 7.40 am ET, the Dow futures were declining 58.00 points, the S&P 500 futures were sliding 15.50 points and the Nasdaq 100 futures were down 92.75 points.

The U.S. major averages ended Monday’s session narrowly mixed. The Dow inched up 29.07 points or 0.1 percent to 32,832.54, the Nasdaq slipped 13.10 points or 0.1 percent to 12,644.46 and the S&P 500 edged down 5.13 points or 0.1 percent to 4,140.06.

On the economic front, the Labor Department’s Productivity and Costs for the second quarter will be issued at 8.30 am ET. The consensus is for a deficit of 4.5 percent, while the deficit was 7.3 percent in the prior quarter.

Three-year Treasury Note Auction will be held at 1.00 pm ET.
The 52-week treasury bill auction will be held at 11.30 pm ET.

Asian stocks ended slightly higher on Tuesday. Chinese shares eked out modest gains, with the benchmark Shanghai Composite index closing up 0.32 percent at 3,247.43. Hong Kong’s Hang Seng index finished 0.21 percent lower at 20,003.44.

Japanese stocks declined. The Nikkei average fell 0.88 percent to 27,999.96. The broader Topix index closed 0.74 percent lower at 1,937.02.

Australian stocks rose for a third straight session. The benchmark S&P ASX 200 inched up 0.13 percent to 7,029.80 while the broader All Ordinaries index closed 0.26 percent higher at 7,278.60.

European shares are trading mostly lower. CAC 40 of France is down 26.31 points or 0.40 percent. DAX of Germany is declining 124.51 points or 0.91 percent. FTSE 100 of England is progressing 2.05 points or 0.03 percent. Swiss Market Index is sliding 47.20 points or 0.42 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.76 percent.

Source: Read Full Article