The Labor Department’s Consumer Price Inflation report might be the focus on Tuesday. Investors will also be watching geopolitical developments that could influence the market.
Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower.
Asian shares finished mostly up, while European shares are following the same pattern.
As of 8.00 am ET, the Dow futures were down 14.00 points, the S&P 500 futures were adding 11.00 points and the Nasdaq 100 futures were progressing 76.00 points.
The U.S. major averages finished lower on Monday. The Dow inched up 46.97 points or 0.1 percent to 38,769.66, the S&P 500 edged down 5.75 points or 0.1 percent to 5,117.94 and the Nasdaq fell 65.84 points or 0.4 percent to 16,019.27.
On the economic front, the Consumer Price Index or CPI for February will be issued at 8.30 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.3 percent in January.
The 10-year Treasury Note auction will be held at 1.00 pm ET.
The U.S. Treasury Statement for February is scheduled at 2.00 pm ET. The consensus is for a deficit of $298.0 billion, while the deficit in January was $21.9 billion.
The eight week Treasury Bill auction will be held at 11.00 am ET.
Asian stocks ended mixed on Tuesday. China’s Shanghai Composite index dropped 0.41 percent to 3,055.94. Hong Kong’s Hang Seng index jumped 3.05 percent to 17,093.50, helped by gains in the technology sector.
Japanese markets ended on a flat note. The Nikkei average hit an over two-week low before finishing marginally lower at 38,797.51.
The broader Topix index slipped 0.36 percent to 2,657.24 after the release of mildly stronger-than-expected producer price inflation data.
Australian markets ended slightly higher. The benchmark S&P/ASX 200 settled 0.11 percent higher at 7,712.50. The broader All Ordinaries index edged up 0.12 percent to 7,973 after Monday’s big plunge.
Business News
Wall Street Might Open Broadly Lower
2024-03-12 12:27:48
