The war between Russia and Ukraine is assuming a new dimension as Russia is seeking support from China and the U.S. is objecting to that move. Meanwhile, Ukraine President asked the Russian army to surrender. Negotiations are going on as Russia intensified the attack in Kyiv.
Investors are awaiting producer price inflation reports, as well as Fed announcements.
Asian shares finished mostly lower, while European shares are trading down.
Early trends from the U.S. Futures Index suggest that Wall Street might open slightly positive.
As of 7.20 am ET, the Dow futures were up 22.00 points, the S&P 500 futures were adding 6.00 points and the Nasdaq 100 futures were progressing 47.25 points.
The U.S. stocks moved mostly lower over the course of the trading session on Monday, adding to the losses posted last week. The tech-heavy Nasdaq showed a particularly steep drop on the day, ending the session at its lowest closing level in over a year.
The Nasdaq plunged 262.59 points or 2 percent to 12,581.22, while the S&P 500 slid 31.20 points or 0.7 percent to 4,173.11.
On the economic front, the Labor Department’s Producer Price Index or PPI – Final Demand for February will be issued at 8.30 am ET. The consensus is for 1.0 percent, while it was up 1.0 percent in the prior month.
The Empire State Manufacturing Index for March will be released at 8.30 am ET. The consensus is for 8.0, while it was up 3.1 in the prior month.
The Redbook data for the week, a 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 13.1 percent.
The Treasury International Capital for January will be released at 4.00 pm ET. In the prior month, the transactions were $114.5 billion.
Asian stocks fell on Tuesday. China’s Shanghai Composite index plunged 4.95 percent to finish at 3,063.96.
Hong Kong’s Hang Seng index plummeted 5.72 percent to 18,415.08.
Japanese shares ended slightly higher. The Nikkei average edged up 38.63 points, or 0.15 percent, to 25,346.48 while the broader Topix index ended 0.79 percent higher at 1,826.63.
Australian markets fell notably. The benchmark S&P/ASX 200 index dropped 52 points, or 0.73 percent, to 7,097.40 while the broader All Ordinaries index ended down 66.10 points, or 0.89 percent, at 7,356.10.
European shares are trading lower. CAC 40 of France is down 70.72 points or 1.11 percent. DAX of Germany is declining 147.39 points or 1.06 percent. FTSE 100 of England is sliding 59.76 points or 0.83 percent. Swiss Market Index is losing 25.04 points or 0.21 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.01 percent.
Business News
Wall Street Targets To Open Slightly Positive
2022-03-15 11:59:32
