Reports on manufacturing activity, construction spending, and job openings might be the highlight on Tuesday. Exxon Mobil (XOM), PulteGroup (PHM), and UPS (UPS) are set to report their quarterly results before the start of trading.
Asian shares finished mostly higher, while European shares are trading positive.
Early cues from the U.S. Futures Index suggest that Wall Street might open lower.
As of 7.15 am ET, the Dow futures were down 65.00 points, the S&P 500 futures were declining 10.50 points and the Nasdaq 100 futures were sliding 10.25 points.
The U.S. major averages all posted notable gains on Monday. The Nasdaq soared 469.31 points or 3.4 percent to 14,239.88, the Dow jumped 406.39 points or 1.2 percent to 35,131.86 and the S&P 500 surged 83.70 points or 1.9 percent to 4,515.55.
Despite the strong upward move seen over the last two sessions of January, the major averages posted steep losses for the first month of the year. The Nasdaq and the S&P 500 plunged by 8.9 percent and 5.2 percent, respectively, recording their worst months since March of 2020.
On the economic front, IHS Markit’s PMI Manufacturing Final for January will be published at 9.45 am ET. The consensus is for 54.7, while it was up 55.0 in the prior month.
The Institute for Supply Management’s Manufacturing Index for January will be issued at 10.00 am ET. The consensus is for 57.5, while it was up 58.7 in December.
The Construction Spending for December is scheduled at 10.00 am ET. The consensus is for a growth of 0.7 percent, while it was up 0.4 percent in the prior month.
The Labor Department’s Job Openings and Labor Turnover Survey or JOLTS for December will be revealed at 10.00 am ET. The consensus is for 10.500 million while it was up 10.562 million in the prior month.
Asian stocks were higher at closing on Tuesday. Chinese, Hong Kong, and Seoul markets were closed for the Chinese New Year break.
Japanese shares finished modestly higher. The Nikkei average edged up 76.50 points, or 0.28 percent, to 27,078.48. The broader Topix index closed marginally higher at 1,896.06.
Australian markets eked out modest gains. The benchmark S&P/ASX 200 index rose 34.40 points, or 0.49 percent, to 7,006. The broader All Ordinaries index ended up 44.50 points, or 0.61 percent, at 7,312.80.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 74.74 points or 1.07 percent. The German DAX is adding 165.46 points or 1.06 percent, the U.K. FTSE 100 Index is gaining 67.83 points or 0.91 percent.
The Swiss Market Index is adding 142.28 points or 1.18 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.03 percent.
Business News
Wall Street Targets To Open Lower
2022-02-01 12:46:38
