Investors are looking ahead to a speech by Federal Reserve Chairman Jerome Powell at the Economic Club of Washington on Tuesday.
Earnings reports will get special attention. Reports on the U.S. trade deficit and consumer credit may also attract some attention.
Early trends on the U.S. Futures Index suggest that Wall Street might open mostly up.
Asian shares finished mixed, while European shares are trading mostly up.
As of 7.10 am ET, the Dow futures were declining 19.00 points, the S&P 500 futures were adding 4.75 points and the Nasdaq 100 futures were progressing 42.75 points.
The U.S. major averages all closed in negative territory on Monday. The Dow edged down 34.99 points or 0.1 percent to 33,891.02.
The tech-heavy Nasdaq tumbled 119.50 points or 1.0 percent to 11,887.45, while the S&P 500 slid 25.40 points or 0.6 percent to 4,111.08.
On the economic front, International Trade in Goods and Services for December will be issued at 8.30 am ET. The consensus is for a deficit of $68.8 billion, while it was down $61.5 billion in the prior month.
Three-year Treasury Note auction will be held at 1.00 pm ET.
The Fed Consumer Credit for December will be published at 3.00 pm ET. The consensus is for $25.0 billion, while it was up $$27.9 billion in November.
Federal Reserve Vice Chair for Supervision Michael Barr will speak on Financial Inclusion before the Banking on Financial Inclusion HOPE Economic Mobility Forum at 2.00 pm ET.
Federal Reserve Chairman Jerome Powell will participate in a conversation hosted by the Economic Club of Washington at 12.40 pm ET.
Asian stocks ended mixed on Tuesday. Chinese shares rebounded on continued optimism.
The benchmark Shanghai Composite index rose 0.29 percent to 3,248.09 while Hong Kong’s Hang Seng index gained 0.36 percent to settle at 21,298.70.
Japanese shares finished lower. The Nikkei average closed marginally lower at 27,685.47 while the broader Topix index closed 0.21 percent higher at 1,983.40.
Australian markets ended lower. The benchmark S&P/ASX 200 slipped 0.46 percent to 7,504.10 while the broader All Ordinaries index closed 0.42 percent lower at 7,713.10.
European shares are trading mostly lower. CAC 40 of France is gaining 1.06 points or 0.01 percent. DAX of Germany is declining 23.37 points or 0.15 percent. FTSE 100 of England is progressing 44.78 points or 0.57 percent. The Swiss Market Index is declining 26.09 points or 0.23 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.035 percent.
Business News
Wall Street Aims To Open Broadly Up
2023-02-07 12:38:01
