Wall Street Might Open In Negative Territory

The factory orders and job openings might be the major announcements on Tuesday.

Asian shares finished mostly up, while European shares are trading mixed.

In the Asian trading session, the dollar recovered slightly, while gold slipped. Oil prices continued their sharp rise.

Initial trends on the U.S. Futures Index suggest that Wall Street might open lower.

As of 8.15 am ET, the Dow futures were declining 74.00 points, the S&P 500 futures were sliding 8.25 points and the Nasdaq 100 futures were down 16.75 points.

The U.S. major averages finished higher on Monday. The Nasdaq climbed 128.85 points or 0.7 percent at 19,242.61, the S&P 500 rose 24.25 points or 0.4 percent to 5,935.94 and the Dow inched up 35.41 points or 0.1 percent to 42,305.38.

On the economic front, the Commerce Department’s Factory Orders for April will be issued at 10.00 am ET. The consensus is for a decline of 3.0 percent, while it was up 4.3 percent in the prior month.

Bureau of Labor Statistics’ Job Openings and Labor Turnver Survey or JOLTS for April is scheduled at 10.00 am ET. The consensus is for an increase of 7.10 million, while it was up 7.192 million last year.

Chicago Fed President Austan Goolsbee will participate in a moderated question-and-answer session before the 2025 Corridor Business Journal Mid-Year Economic Review at 12.45 pm ET.

Fed Governor Lisa Cook will speak on the economic outlook before the Council on Foreign Relations C. Peter McColough Series on International Economics at 1.00 pm ET.

Dallas Fed President Lorie Logan will give opening remarks and moderates a discussion before a Fed Listens roundtable with El Paso community leaders at 3.30 pm ET.

Asian stocks ended mixed on Tuesday. China’s Shanghai Composite index rose 0.43 percent to 3,361.98.

Hong Kong’s Hang Seng index rallied 1.53 percent to 23,512.49.

Japanese markets gave up early gains to end on a flat note. The Nikkei average finished marginally lower at 37,446.81 while the broader Topix index settled 0.22 percent lower at 2,771.11.

Australian markets hit a three-month high. The benchmark S&P/ASX 200 gained 0.63 percent to close at 8,466.70. The broader All Ordinaries index ended 0.62 percent higher at 8,690.90.

European shares are trading mixed. CAC 40 of France is losing 10.78 points or 0.14 percent. DAX of Germany is gaining 10.76 points or 0.04 percent. FTSE 100 of England is adding 12.12 points or 0.14 percent. The Swiss Market Index is gaining 6.45 points or 0.05 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.23 percent.

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