Wall Street Poised To Open In Negative Territory

Investors might be reacting to the latest U.S. economic data, especially the Home prices, Consumer Confidence Index, and Job Openings, on Tuesday.

In the Asian trade session, oil edged up slightly.

early signals from the U.S. Futures Index suggest that Wall Street might open lower.

Asian shares finished mostly lower, while European shares are trading positive.

As of 6.45 am ET, the Dow futures were down 66.00 points, the S&P 500 futures were declining 6.75 points and the Nasdaq 100 futures were sliding 8.00 points.

The U.S. major averages rallied to new highs for the session on Monday. The Dow climbed 224.02 points or 0.6 percent to 38,333.45, the Nasdaq jumped 172.68 points or 1.1 percent to 15,628.04 and the S&P 500 advanced 36.96 points or 0.8 percent to 4,927.93.

On the economic front, the Case-Shiller Home Price Index for November will be published at 9.00 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.6 percent in the prior year.

The FHFA House Price Index for November will be released at 9.00 am ET. The consensus is for growth of 0.3 percent, while it was up 0.3 percent in the previous month.

The Consumer Confidence for January is scheduled at 10.00 am ET. The consensus is for 112.5, while it was up 110.7 in the previous month.

The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS for December will be issued at 10.00 am ET. The consensus is for 8.70 million, while it was up 8.790 million in November.

The eight-week Treasury Bill auction will be held at 11.00 am ET.

Asian shares ended mixed on Tuesday. China’s Shanghai Composite index slumped 1.83 percent to 2,830.53 as the court-ordered liquidation of property giant China Evergrande piled pressure on policymakers to cut rates in the world’s second-largest economy.

Hong Kong’s Hang Seng index plummeted 2.32 percent to 15,703.45, dragged down by property developers.

Japanese markets ended slightly higher, giving up some early gains. The Nikkei average edged up 0.11 percent to 36,065.86 while the broader Topix index settled 0.10 percent lower at 2,526.93.

Australian stocks eked out modest gains. The benchmark S&P ASX 200 rose 0.29 percent to 7,600.20 while the broader All Ordinaries index settled 0.34 percent higher at 7,835.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 34.30 points or 0.45 percent. The German DAX is progressing 17.93 points or 0.11 percent, the U.K. FTSE 100 Index is gaining 225.31 points or 0.74 percent.

The Swiss Market Index is adding 5.64 points or 0.04 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.49 percent.

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