The trading activity might remain somewhat subdued on Tuesday. The Labor Department’s Productivity and Costs for the second quarter shall get special attention. Traders are awaiting the consumer price inflation to be released on Wednesday.
Asian shares finished lower on Tuesday, while European shares are trading mostly higher.
Early signs from the U.S. Futures Index suggest that Wall Street might open broadly higher.
As of 7.40 am ET, the Dow futures were down 20.00 points, the S&P 500 futures were declining 0.75 points and the Nasdaq 100 futures were progressing 12.75 points.
The U.S. major averages closed mostly lower on Monday. The Nasdaq inched up 24.42 points or 0.2 percent to 14,860.18, but the S&P 500 slipped 4.17 points or 0.1 percent to 4,432.35 and the Dow fell 106.66 points or 0.3 percent to 35,101.85.
On the economic front, the Labor Department’s Productivity and Costs for the second quarter will be released at 8.30 am ET. The consensus is for an increase of 3.5 percent, while it was up 5.4 percent in the prior quarter.
The Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, is scheduled at 8.55 am ET. In the prior week, the Store Sales were up 17.2 percent.
A three-year Treasury Note auction will be held at 1.00 pm ET.
Chicago Federal Reserve Bank President Charles Evans will host a virtual on-the-record conversation on the economy and monetary policy with members of the media at 2.30 pm ET.
Asian stocks rose broadly on Tuesday. Chinese shares rose sharply. The benchmark Shanghai Composite index climbed 35.30 points, or 1.01 percent, to 3,529.93 while Hong Kong’s Hang Seng index ended 1.23 percent higher at 26,605.62.
Japanese shares ended slightly higher. The Nikkei average edged up 68.11 points, or 0.24 percent, to 27,888.15 as investors kept their focus on corporate earnings. The broader Topix index closed 0.36 percent higher at 1,936.28. SoftBank rose 0.9 percent before releasing its earnings after the market close.
Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 24.20 points, or 0.32 percent, to 7,562.60 while the broader All Ordinaries index ended up 26.10 points, or 0.33 percent, at 7,830.40.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 10.15 points or 0.15 percent. The German DAX is 32.63 points or 0.20 percent, the U.K. FTSE 100 Index is sliding 5.58 points or 0.08 percent.
The Swiss Market Index is adding 48.68 points or 0.39 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.30 percent.
Business News
Wall Street Set To Open Broadly Positive
2021-08-10 12:05:51
