Wall Street Trends To Open Lower

Trading on Tuesday might be impacted by reaction to the latest earnings news.

Asian shares finished lower, while European shares are trading on a negative trend.

AMC Entertainment (AMC), Beyond Meat (BYND), Dropbox (DBX), Expedia (EXPE), GoPro (GPRO), Live Nation (LYV), Peloton (PTON), Roku (ROKU), and Yelp (YELP) are among the companies releasing their quarterly results after the close of today’s trading.

Pre-market trend of U.S. Futures Index suggest that Wall Street might open lower.
As of 7.30 am ET, the Dow futures were down 168.00 points, the S&P 500 futures were declining 35.00 points and the Nasdaq 100 futures were sliding 189.25 points.

The U.S. major averages all finished Monday lower. The Nasdaq plunged 350.38 points or 2.6 percent to 13,401.86, while the S&P 500 slid 44.17 points or 1 percent to 4,188.43 and the S&P 500 edged down 34.94 points or 0.1 percent to 34,742.82.

On the economic front, the Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store Sales were up 14.2 percent.

The Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey or JOLTS for March will be released at 10.00 am ET. The consensus is for 7.455 million, while it was up 7.367 million in the previous month.

The three-year Treasury Note auction will be held at 1.00 pm ET.

New York Federal Reserve Bank President John Williams will speak before virtual SOFR (Secured Overnight Financing Rate) Symposium: The Final Year (Part II) organized by the Alternative Reference Rates Committee at 10.30 am ET.

New York Federal Reserve Bank President John Williams to speak before virtual SOFR (Secured Overnight Financing Rate) Symposium: The Final Year (Part II) organized by the Alternative Reference Rates Committee.

Federal Reserve Board Governor Lael Brainard to speak on the economic outlook before virtual SABEW (Society for Advancing Business Writing and Editing) “The Road to Recovery: What’s Next?” conference at 12.00 pm ET.

San Francisco Federal Reserve Bank President Mary Daly to participate in fireside chat before virtual Community Bankers of Washington Northwest Conference – Spring 2021 at 1.00 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker to speak on the economic outlook before virtual CFA Society Philadelphia event at 2.00 pm ET.

Asian stocks succumbed to selling pressure on Tuesday. Chinese shares reversed early losses to close higher, with the benchmark Shanghai Composite edging up 13.85 points, or 0.40 percent, to 3,441.85. Hong Kong’s Hang Seng index fell 581.85 points, or 2.03 percent, to 28,013.81.

Japanese shares led regional losses. The Nikkei average ended down 909.75 points, or 3.08 percent, at 28,608.59, while the broader Topix index closed 2.37 percent lower at 1,905.92.

Australian markets fell from a record high reached in the previous session as inflation concerns mount.

The benchmark S&P/ASX 200 dropped 75.80 points, or 1.06 percent, to 7,097 as investors looked forward to the federal budget for direction. The broader All Ordinaries index ended down 88.20 points, or 1.19 percent, at 7,331.60.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is losing 134.19 points or 0.2.11 percent. The German DAX is sliding 360.44 points or 2.34 percent, the U.K. FTSE 100 Index is down 156.87 points or 2.20 percent.

The Swiss Market Index is declining 156.66 points or 1.41 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 2.18 percent.