As the Israel-Hamas war is continuing, President Jo Biden is planning to visit Israel tomorrow. Biden’s visits is considered as a show of support to Israel. U.S. marine rapid forces are approaching the region. Meanwhile, Gaza is suffering from a water and power crisis.
Early trends on the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mostly down, while European shares are also on a downward trend.
As of 7.45 am ET, the Dow futures were down 58.00 points, the S&P 500 futures were declining 10.00 points and the Nasdaq 100 futures were plummeting 44.50 points.
The U.S. major averages ended positive on Monday. The Dow ended higher by 314.25 points or 0.93 percent at 33,984.54. The S&P 500 advanced 45.85 points or 1.06 percent at 4,373.63, while the Nasdaq settled at 13,567.98, gaining 160.75 points or 1.2 percent.
On the economic front, the retail sales for September will be issued at 8.30 am ET. The consensus for retail sales is an increase of 0.3 percent, while it was up 0.6 percent in the prior month.
The Industrial Production for September will be published at 9.15 am ET. The consensus is 0.0 percent, while it was up 0.4 percent in the prior month.
The Business Inventories for August is scheduled at 10.00 am ET. The consensus is up 0.3 percent, while it was 0.0 percent in July.
The National Association of Home Builders/Wells Fargo’s Housing Market Index for October is expected at 10.00 am ET. The consensus is 45, while it was up 45 in the previous month.
Fed Governor Michelle Bowman will speak on “Responsible Innovation in Money and Payments” before the Harvard Law School Program on International Financial Systems Roundtable on Central Bank Digital Currency at 9.20 am ET.
Richmond Fed President Tom Barkin will speak to Real Estate Roundtable at 10.45 am ET.
Minneapolis Fed President Neel Kashkari will give a lecture before the 15th Annual David A. Rothenberger Lecture event hosted by the University of Minnesota Medical School at 5.00 pm ET.
Asian stocks finished higher on Tuesday. Chinese markets eked out modest gains. China’s Shanghai Composite index edged up 0.32 percent to 3,083.50 while Hong Kong’s Hang Seng index climbed 0.75 percent to 17,773.34.
Japanese markets rallied today. The Nikkei average jumped 1.20 percent to 32,040.29. The broader Topix index closed 0.82 percent higher at 2,292.08.
Australian stocks rose. The benchmark S&P ASX 200 rose 0.42 percent to 7,056.10 while the broader All Ordinaries index closed 0.41 percent higher at 7,244.40.
European shares are trading mostly down. CAC 40 of France is declining 14.74 points or 0.21 percent. DAX of Germany is sliding 64.43 points or 0.42 percent. FTSE 100 of England is progressing 22.93 points or 0.30 percent. The Swiss Market Index is falling 47.42 points or 0.44 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.35 percent.
Business News
Early Trends Point To Lower Open For Wall Street
2023-10-17 12:15:01
