Wall Street Poised To Open In Negative Territory

Tuesday is a quiet day of economic announcements; a slew of earnings will be the highlight today.

Investors might be awaiting the Fed’s monetary policy decision on Wednesday.

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

As of 7.25 am ET, the Dow futures were declining 57.00 points, the S&P 500 futures were down 6.00 points, and the Nasdaq 100 futures were sliding 1.50 points.

The U.S. major averages eventually ended Monday’s session slightly lower. The Dow dipped 46.46 points or 0.1 percent to 34,051.70, the Nasdaq slipped 13.96 points or 0.1 percent to 12,212.60 and the S&P 500 edged down 1.61 points or less than a tenth of a percent to 4,167.87.

On the economic front, the Commerce Department’s Factory Orders for March will be released at 10.00 am ET. The consensus is for growth of 1.3 percent, while it was down 0.7 percent in the previous month.

The Job Openings and Labor Turnover Survey or JOLTS for March will be published at 10.00 am ET. The consensus is 9.65 million, while it was up 9.93 million in the prior year.

The 4-month Treasury Bill auction will be held at 11.00 am ET.

In the corporate sector, Advanced Micro, Ford Motor, Hanover Insurance, Mercury, Pacific Biosciences, Paycom Software, Prudential, Simon Properties, Starbucks and Western Union are the major companies that have scheduled to report their quarterly earnings on Tuesday.

Asian stocks ended Tuesday’s session on a mixed note.

Chinese markets were closed for the Labour Day holiday. Hong Kong’s Hang Seng index rose 0.20 percent to 19,933.81.

Japanese shares ended higher for the day. The Nikkei average hit a 16-month high before closing 0.12 percent higher at 29,157.95. The broader Topix index settled 0.12 percent lower at 2,075.53.

Australian markets fell sharply. The benchmark S&P/ASX 200 fell 0.92 percent to 7,267.40. The broader All Ordinaries index ended 0.86 percent lower at 7,459.80.

European shares are trading mostly lower. CAC 40 of France is down 29.31 points or 0.39 percent. DAX of Germany is declining 28.62 points or 0.18 percent. FTSE 100 of England is progressing 2.07 points or 0.03 percent. The Swiss Market Index is up 20.90 points or 0.18 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.26 percent.

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