Reactions to earnings as well as reports on manufacturing activity, construction spending, and job openings might be the highlight on Tuesday.
Asian shares finished mostly down, while European shares are trading in negative territory.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
As of 7.30 am ET, the Dow futures were down 48.00 points, the S&P 500 futures were declining 13.25 points and the Nasdaq 100 futures were sliding 67.75 points.
The U.S. major averages ended modestly higher on Monday. The Dow rose 100.24 points or 0.3 percent to 35,559.53, the Nasdaq crept up 29.37 points or 0.2 percent to 14,346.02 and the S&P 500 inched up 6.73 points or 0.2 percent to 4,588.96.
On the economic front, the PMI Manufacturing Final report is scheduled at 9.45 am ET.
The Institute for Supply Management or ISM’s Manufacturing Index for July will be published at 10.00 am ET. The consensus is for 46.5, while it was up 46.0 in the prior month.
The Commerce Department’s Construction Spending for June will be released at 10.00 am ET. The consensus is for growth of 0.6 percent, while it was up 0.9 percent in May.
The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS for June will be issued at 10.00 am ET. The consensus is 9.65 million, while it was up 9.825 million in the prior month.
Asian stocks ended mixed on Tuesday. Chinese stocks edge lower. China’s Shanghai Composite index fluctuated before finishing marginally lower at 3,290.95.
Hong Kong’s Hang Seng index dropped 0.34 percent to 20,011.12.
Japanese shares advanced. The Nikkei average jumped 0.92 percent to 33,476.58. The broader Topix index hit its highest level in around 33 years, gaining 0.64 percent to 2,337.36.
Australian markets closed higher. The benchmark S&P/ASX 200 rose 0.54 percent to 7,450.70, led by resource stocks. The broader All Ordinaries index gained 0.54 percent to close at 7,663.70.
European shares are trading lower. CAC 40 of France is down 62.96 points or 0.84 percent. DAX of Germany is declining 152.24 points or 0.93 percent. FTSE 100 of England is sliding 13.26 points or 0.17 percent. The Swiss Market Index is down 8.49 points or 0.08 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.90 percent.
Business News
Wall Street Poised To Open In Negative Territory
2023-08-01 12:00:35
