Futures Suggests Wall Street To Open Broadly Lower

The House Price Index or HPI for March, Consumer Confidence for May as well as Dallas Fed Manufacturing Survey for March are the major announcements on Tuesday.

Early signs from the U.S. Futures Index suggest that Wall Street might open broadly up.
Asian shares were mostly higher, and European shares are trading lower.

As of 7.35 am ET, the Dow futures were down 9.00 points, the S&P 500 futures were adding 23.25 points and the Nasdaq 100 futures were progressing 189.50 points.

The U.S. major averages finished at strong gains on Friday. The Nasdaq spiked 277.59 points or 2.2 percent to 12,975.69, the S&P 500 surged 54.17 points or 1.3 percent to 4,205.45 and the Dow jumped 328.69 points or 1.0 percent to 33,093.34.

On the economic front, the Case-Shiller Home Price Index for March will be published at 9.00 am ET. The consensus is for a decline of 0.1 percent, while it was up 0.1 percent in the prior month.

The Federal Housing Finance Agency’s House Price Index or HPI for March will be released at 9.00 am ET. The consensus is for growth of 0.3 percent, while it was up 0.5 percent in the prior month.

The Conference Board’s Consumer Confidence for May will be issued at 10.00 am ET. The consensus is 100.0 while it was up 101.3 in April.

Dallas Fed Manufacturing Survey for March will be revealed at 10.30 am ET. The consensus is negative 19.5, while it was down 23.4 in the prior month.

Asian stocks ended mixed on Tuesday. Chinese shares hit a five-month low. The benchmark Shanghai Composite closed up 2.76 points at 3,224.21. Hong Kong’s Hang Seng index reversed early losses to end 0.24 percent higher at 18,595.78.

Japanese shares eked out modest gains, with the Nikkei average edging up 0.30 percent to close at 31,328.16. The broader Topix index finished marginally lower at 2,159.22.

Australian markets ended a choppy session slightly lower. The benchmark S&P/ASX 200 slipped 0.11 percent to 7,209.30.

The broader All Ordinaries index closed 0.11 percent lower at 7,387.30. ahead of April inflation data due on Wednesday.

European shares are trading mostly lower. CAC 40 of France is down 26.64 points or 0.36 percent. DAX of Germany is gaining 100.96 points or 0.64 percent. FTSE 100 of England is down 37.77 points or 0.49 percent. Swiss Market Index is sliding 64.27 points or 0.56 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.37 percent.