Futures Point To Broadly Higher Open For Wall Street

Major economic reports such as Home prices, Consumer Confidence, and Job Openings might get special attention on Tuesday.

Early signs from the U.S. Futures Index suggest that Wall Street might open broadly higher.

Asian shares finished mostly down, while European shares are trading higher.

As of 8.05 am ET, the Dow futures were down 15.00 points, the S&P 500 futures were adding 10.75 points and the Nasdaq 100 futures were gaining 60.00 points.

The U.S. major averages eventually ended Monday’s session narrowly mixed. The Dow edged down 49.41 points or 0.1 percent to 40,539.93, the Nasdaq inched up 12.32 points or 0.1 percent to 17,370.20 and the S&P 500 crept up 4.44 points or 0.1 percent to 5,463.54.

On the economic front, the Case-Shiller Home Price Index for May will be published at 9.00 am ET. The consensus is 0.5 percent, while it was up 0.4 percent in the prior month.

The Federal Housing Finance Agency or FHFA House Price Index for May will be released at 9.00 am ET. The consensus is 0.3 percent, while it was up 0.2 percent in April.

The Consumer Confidence for July will be issued at 10.00 am ET. The consensus is 99.5, while it was up 100.4 in the prior month.

The Labor Department’s Job Openings and Labor Turnover Survey for June will be revealed at 10.00 am ET. The consensus is 8.0 million, while it was up 8.14 million a year ago.

The 8-week Treasury bill auction will be held at 11.00 am ET.

In the Asian trading hours, the dollar held in a tight range, while gold edged higher. Oil extended recent losses on China demand concerns.

Asian stocks fell broadly on Tuesday. China’s Shanghai Composite index dropped 0.43 percent to 2,879.30 and Hong Kong’s Hang Seng index fell 1.37 percent to 17,002.91.

Japanese markets eked out modest gains. The Nikkei average edged up 0.15 percent to 38,525.95 while the broader Topix index settled 0.19 percent lower at 2,754.45.

Australian stocks closed lower. The benchmark S&P ASX 200 dipped 0.46 percent to 7,953.20. The broader All Ordinaries index shed 0.58 percent to finish at 8,176.60.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is adding points 33.331 or 0.45 percent. The German DAX is progressing 79.19 points or 0.43 percent, the U.K. FTSE 100 Index is declining 10.84 points or 0.13 percent.

The Swiss Market Index is gaining 62.99 points or 0.52 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.56 percent.

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