The risk of a more contagious Delta variant is raising concerns in many countries. Early signs from the U.S. Futures Index suggest that Wall Street might open mostly lower.
The Federal Housing Finance Agency’s House Price Index for April and the Conference Board’s Consumer Confidence for June are the focus on Tuesday.
Asian shares finished higher, while European shares are trading higher.
As of 7.55 am ET, the Dow futures were adding 48.00 points, the S&P 500 futures were down 3.00 points and the Nasdaq 100 futures were sliding 23.25 points.
U.S. major averages finished mostly higher. The Dow ended the session with a loss of 150.57 points or 0.44 percent at 34,283.27, nearly 100 points off the day’s low of 34,186.13. The S&P 500 ended up by 9.91 points or 0.23 percent at 4,290.61, a new closing high, while the Nasdaq settled at a record closing high of 14,500.51 with a gain of 140.12 points or 0.98 percent, after scaling a new peak at 14,505.19.
On the economic front, the Redbook data for the week will be released at 8.55 am ET. In the prior week, the Store sales were up 17.6 percent.
Case-Shiller Home Price Index for April will be issued at 9.00 am ET. The consensus is for an increase of 1.2 percent, while it was up 1.6 percent in the prior month.
The Federal Housing Finance Agency’s House Price Index or HPI for April will be published at 9.00 am ET. The consensus is an increase of 1.2 percent, while it was up 1.4 percent in March.
The Conference Board’s Consumer Confidence for June will be released at 10.00 am ET. The consensus is for 119.00, while it was up 117.2 in the previous month.
Richmond Federal Reserve Bank President Thomas Barkin will speak before virtual MNI Connect “Outlook for the U.S. Economy and Monetary Policy” at 9.00 am ET.
Asian stocks ended broadly lower on Tuesday. Chinese stocks fell sharply.
The benchmark Shanghai Composite index fell 33.19 points, or 0.92 percent, to 3,573.18 while Hong Kong’s Hang Seng index ended down 274.20 points, or 0.94 percent, at 28,994.10.
Japanese shares fell. The Nikkei average dropped 235.41 points, or 0.81 percent, to 28,812.61. The broader Topix index settled 0.82 percent lower at 1,949.48.
Australian markets ended on a flat note. The S&P/ASX 200 index and the broader All Ordinaries index finished marginally lower at 7,301.20 and 7,565.50, respectively.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 23.46 points or 0.36 percent. The German DAX is adding 127.52 points or 0.82 percent, the U.K. FTSE 100 Index is gaining 18.43 points or 0.26 percent.
The Swiss Market Index is adding 31.78 points or 0.26 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.43 percent.
Business News
Wall Street Set To Open Mostly Lower
2021-06-29 12:16:48
