Wall Street Might Open In Negative Territory

Fed Chairman Jerome Powell’s keynote speech on the U.S. economic outlook and monetary policy and other Fed speeches might be the focus on Tuesday. Investors might be keen on economic announcements by major corporates today.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

President Donald Trump has expressed shock at China’s move to unleash sweeping export controls on rare earths.

In the Asian trading session, oil prices reversed early gains.

As of 8.20 am ET, the Dow futures were losing 332.00 points, the S&P 500 futures were down 59.25 points and the Nasdaq 100 futures were sliding 273.50 points.

The U.S. major averages moved roughly sideways on Monday. The Nasdaq spiked 490.18 points or 2.2 percent to 22,694.61, the S&P 500 shot up 102.21 points or 1.6 percent to 6,654.72 and the Dow jumped 587.98 points or 1.3 percent to 46,067.58.

On the economic front, the 3-month and 6-month Treasury bill auction will be held at 11.30 am ET.

Six-week Treasury bill auction will be held at 1.00 pm ET.

Fed Vice Chair for Supervision Michelle Bowman will participate in discussion before the 2025 Institute of International Finance Annual Membership Meeting at 8.45 am ET.

Fed Chairman Jerome Powell will speak on the economic outlook and monetary policy before the National Association for Business Economics Annual Meeting at 12.20 pm ET.

Fed Governor Christopher Waller will participate in ‘Payments’ discussion before the 2025 Institute of International Finance Annual Membership Meeting at 3.25 pm ET.

Boston Fed President Susan Collins will speak and participate in a moderated question-and-answer session before the Greater Boston Chamber of Commerce at 3.30 pm ET.

Asian stocks ended mostly lower on Tuesday. Chinese and Hong Kong markets fell.

China’s Shanghai Composite index dipped 0.62 percent to 3,865.23 while Hong Kong’s Hang Seng index tumbled 1.73 percent to 25,441.35.

Japanese markets settled lower. The Nikkei average slumped 2.58 percent to 46,847.32. The broader Topix index was down 1.99 percent at 3,133.99.

Australian markets ended slightly higher. The benchmark S&P/ASX 200 edged up by 0.19 percent to 8,899.40 while the broader All Ordinaries index closed up 0.27 percent at 9,208.50.

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