Futures Points To Significantly Lower Open For Wall Street

Early cues on the U.S. Futures Index suggest that Wall Street might open in the negative.

Asian shares finished mostly in red. Asian investors are closely watching China’s trade data update due on Wednesday and the inflation update due on Friday.
European shares are trading mostly up.

JOLTS as well as, the PMI Composite Final report for November might get attention on Tuesday.

As of 7.15 am ET, the Dow futures were declining 90.00 points, the S&P 500 futures were down 15.25 points and the Nasdaq 100 futures were declining 79.50 points.

The U.S. major averages finished lower on Monday. The Nasdaq slid 119.54 points or 0.8 percent to 14,185.49 and the S&P 500 fell 24.85 points or 0.5 percent to 4,569.78, while the narrower Dow edged down 41.06 points or 0.1 percent to 36,204.44 after falling more than 200 points early in the session.

On the economic front, the PMI Composite Final for November will be issued at 9.45 am ET. The consensus is 50.8.

The ISM Services Index for November will be released at 10.00 am ET. The consensus is 52.4, while it was up 51.8 in the prior month.

The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS for October will be published at 10.00 am ET. The consensus is 9.4 million, while it was up 9.553 million in September.

Fed Supervision and Regulation Director Michael Gibson will testify on ‘Fostering Financial Innovation’ before the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion at 10.00 am ET.

Asia markets closed on an overwhelmingly negative note on Tuesday.

China’s Shanghai Composite Index tumbled 1.67 percent to finish at 2,972.30. The Shenzhen Component Index plunged 1.97 percent to close at 9,470.36.

The Hang Seng Index of the Hong Kong Stock Exchange shed 318 points or 1.91 percent from the previous close to finish trading at 16,327.86. The day’s trading range was between a high of 16,606.54 and a low of 16,228.52.

Nikkei 225 of Japan finished 455 points or 1.37 percent lower to end trading at 32,775.82.

Korean Stock Exchange’s Kospi Index dropped 20 points or 0.82 percent to close trading at 2,494.28. The day’s trading range was between 2,492.55 and 2,509.74.

Australia’s S&P/ASX200 closed trading at 7,061.60, shedding 63 points or 0.89 percent. The day’s trading range was between 7041.10 and 7,124.70.

European shares are trading mostly higher. CAC 40 of France is gaining 38.91 points or 0.53 percent. DAX of Germany is progressing 225.51 points or 1.39 percent. FTSE 100 of England is declining 43.69 points or 0.58 percent. The Swiss Market Index is up 3.43 points or 0.03 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.24 percent.

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