Housing Data and a slew of speeches by Fed officials might of importance this week. Federal Reserve Chair Jerome Powell will testify before Congress on Wednesday.

Early signs from the U.S. Futures Index suggest that Wall Street might open mostly down.

As of 7.50 am ET, the Dow futures were down 113.00 points, the S&P 500 futures were sliding 14.25 points and the Nasdaq 100 futures were declining 52.00 points.

The U.S. major averages finished Friday’s session just off their worst levels of the day. The Nasdaq slid 93.25 points or 0.7 percent to 13,689.57, the S&P 500 fell 16.25 points or 0.4 percent to 4,409.59 and the Dow dipped 108.94 points or 0.3 percent to 34,299.12.

On the economic front, the Commerce and Housing & Urban Development Department’s Housing Starts and Permits for May will be issued at 8.30 am ET. The consensus is for 1.40 million, while it was up 1.40 million in the prior month.

The six-month Treasury Bills auction will be held at 11.30 am ET.

Asian stocks ended mixed on Tuesday. Chinese shares fell and the Shanghai Composite index dropped 0.47 percent to 3,240.36. Hong Kong’s Hang Seng index fell 1.54 percent to 19,607.08.

Japanese shares finished on a flat note. The Nikkei average finished marginally higher at 33,388.91 while the broader Topix index ended 0.29 percent lower at 2,283.85.

Australian markets rallied for the seventh consecutive session. The benchmark S&P/ASX 200 index climbed 0.86 percent to 7,357.80. The broader All Ordinaries index settled 0.79 percent higher at 7,548.50.

European shares are trading broadly down. CAC 40 of France is declining 8.96 points or 0.12 percent. DAX of Germany is sliding 52.93 points or 0.33 percent. FTSE 100 of England is progressing 7.37 points or 0.09 percent. The Swiss Market Index is declining 31.64 points or 0.28 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.18 percent.

Business News




Wall Street Sees Red

2023-06-20 12:13:03

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