Wall Street Sees Red

Early signs from the U.S. Futures Index suggest that Wall Street might open on a negative trend.

The start of a new earnings season is keenly awaited. Goldman Sachs (GS), Bank of America (BAC), Morgan Stanley (MS), Procter & Gamble (PG), Travelers (TRV), and Netflix (NFLX) are among the companies due to report their quarterly results.
The reaction to reports on Housing Starts, Existing Home Sales and Regional Manufacturing Activity might get special attention this week.

Asian shares finished mixed, while European shares are trading down.

As of 7.10 am ET, the Dow futures were down 243.00 points, the S&P 500 futures were sliding 48.00 points and the Nasdaq 100 futures were declining 255.75 points.

The U.S. major averages finished the day on opposite sides of the unchanged line on Friday. The Dow fell 201.81 points or 0.6 percent to 35,911.91, but the Nasdaq climbed 86.94 points or 0.6 percent to 14,893.75 and the S&P 500 inched up 3.82 points or 0.1 percent to 4,662.85.

On the economic front, the Empire State Manufacturing Index for January will be released at 8.30 am ET. The consensus is for 26.0, while it was up 31.9 in the prior month.

The National Association’s Housing Market Index for January will be published at 10.00 am ET. The consensus is for 84, while it was up 84 in the previous month.
The Treasury International Capital for the month will be revealed at 4.00 pm ET. In the prior month, the Net Long Term Securities Transactions $7.1 billion.

Asian stocks ended mixed on Tuesday. Chinese shares rose notably. The benchmark Shanghai Composite index climbed 28.25 points, or 0.80 percent, to 3,569.91 while Hong Kong’s Hang Seng index ended down 105.25 points, or 0.43 percent, at 24,112.78.

Japanese shares ended slightly lower. The Nikkei average dipped 76.27 points, or 0.27 percent, to 28,257.25 while the broader Topix index closed 0.42 percent lower at 1,978.38.

Australian stocks slipped on the day.

The benchmark S&P/ASX 200 slipped 8.50 points, or 0.11 percent, to 7,408.80 while the broader All Ordinaries index finished marginally lower at 7,735.80.

European shares are trading down. Among the major indexes in the region, the CAC 40 Index of France is declining 72.50 points or 1.01 percent. The German DAX is losing 159.48 points or 0.98 percent, the U.K. FTSE 100 Index is declining 117.47 points or 0.94 percent.

The Swiss Market Index is adding 118.85 points or 0.93 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.91 percent.

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