Futures Point To Lower Open For Wall Street

The monthly jobs report and the retail Sales data might be in the spotlight on Tuesday.
The U.S. consumer price index is scheduled on Thursday.

In the Asian trading session, the dollar was down, while gold dipped below $4,300 per ounce. Oil prices extended losses on fears of a global glut.

Asian shares finished lower, while European shares are trading mostly down.

Initial signs from the U.S. Futures Index suggest that Wall Street might open in the negative territory.

As of 7.35 am ET, the Dow futures were down 15.00 points, the S&P 500 futures were declining 4.00 points and the Nasdaq 100 futures were sliding 26.50 points.

The U.S. major averages ended Monday modestly lower. The tech-heavy Nasdaq slid 137.76 points or 0.6 percent to 23,057.41, the S&P 500 dipped 10.90 points or 0.2 percent to 6,816.51 and the Dow edged down 41.49 points or 0.1 percent at 48,416.56.

On the economic front, the Labor Department’s Employment Situation for November will be released at 8.30 am ET. The non-farm payrolls consensus is for an increase of 40000, while it was up 119,000 in the prior month. The unemployment rate is expected to be up 4.5 percent, while it was up 4.4 percent in the prior month. The Private payrolls might increase by 30,000, while it grew 97,000 in October. Manufacturing payrolls is expected decline by 5000, while it was down 6000 in the previous month. Average hourly earnings is expected to gain by 0.3 percent, at the same time, it was up 0.2 percent in the previous month.

The Housing Starts and Permits for November will be issued at 8.30 am ET. The Housing Starts consensus is for 1.325 million, while Housing permits is expected to be 1.345 million.

The Retails Sales for October will be revealed at 8.30 am ET. The consensus is for an increase of 0.2 percent, while it was up 0.2 percent in the prior month.

The PMI Composite Flash is scheduled at 9.45 am ET. The Services Index consensus is 53.9, while it was up 55.0 in the prior month. The composite Index in November was 54.2.

Asian stocks fell broadly on Tuesday. Chinese and Kong shares fell sharply. China’s Shanghai Composite index ended down 1.11 percent at 3,824.81. Hong Kong’ Hang Seng index fell 1.54 percent to 25,235.41.

Japanese markets tumbled. The Nikkei average slumped 1.56 percent to 49,383.29. The broader Topix index settled 1.78 percent lower at 3,370.50.

Australian stocks ended modestly lower. The benchmark S&P/ASX 200 dipped 0.42 percent to 8,598.90 while the broader All Ordinaries index closed 0.48 percent lower at 8,880.60.

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