The manufacturing sector data and JOLTS reports might be the focus on Tuesday. Early signs from the U.S Futures Index suggest that Wall Street might open broadly down.
Geopolitical tensions also weigh on investor sentiments after Israel launched ground operations in Lebanon. In the Asian trading session, oil prices fell nearly 1 percent on escalating Middle East tensions. Gold edged up slightly.
As of 8.10 am ET, the Dow futures were down 89.00 points, the S&P 500 futures were declining 2.25 points and the Nasdaq 100 futures were gaining 14.50 points.
The U.S. major averages finished higher on Monday. The Dow inched up 17.15 points or less than a tenth of a percent to a new record closing high of 42,330.15, while the Nasdaq climbed 69.58 points or 0.4 percent to 18,189.17. The S&P 500 also rose 24.31 points or 0.4 percent to a new record closing high of 5,762.48.
On the economic front, the PMI Manufacturing Final for September will be issued at 9.45 am ET. The consensus is 47.0, while it was up 47.0 in the prior month.
The ISM Manufacturing Index for September is scheduled at 10.00 am ET. The consensus is 47.6, while it was up 47.2 in August.
Construction Spending for August will be released at 10.00 am ET. The consensus is for a decline of 0.3 percent, while it was down 0.3 percent in July.
The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS for August is scheduled at 10.00 am ET. The consensus is 7.7 million, while it was at 7.673 million in the prior month.
The 52-week Treasury Bill auction will be held at 11.30 am ET.
Atlanta Fed President Raphael Bostic will give welcome and opening remarks before the conference organized by the Fed Reserve of Atlanta, Boston and Richmond at 11.00 am ET.
A Conversation with the Federal Reserve Presidents will be held at 6.15 pm ET.
Asian stocks ended mixed on Tuesday. Mainland Chinese and Hong Kong markets were closed for the National Day holidays.
Japanese markets bounced back. The Nikkei 225 Index jumped 1.9 percent to 38,651.97. The broader Topix Index settled 1.7 percent higher at 2,690.78.
Australian markets fell notably. The benchmark S&P/ASX 200 Index dropped 0.7 percent to 8,208.90, while the broader All Ordinaries Index ended down 0.7 percent at 8,481.90.
Business News
Futures Point To Broadly Lower Open For Wall Street
2024-10-01 12:32:16
