Investor sentiment might be influenced by geopolitical developments in the Middle East. Despite diplomatic moves to de-escalate the situation, there are no clear signs of an end to the war. Supply constraints also continue.
Asian shares finished positive, while European shares are trading higher on Tuesday.
Oil prices were sharply lower. Brent crude prices slumped 2.4 percent to $90.38 a barrel. WTI crude futures were down 2.2 percent at $84.98 a barrel.
Gold prices declined in the Asian trading session. Spot gold fell 1.4 percent to $4,084.11 an ounce. U.S. gold futures were down 0.6 percent at $4,091.65.
The U.S. dollar index edged up slightly.
Initial signs from the U.S. Futures Index suggest that Wall Street might open broadly up on Tuesday.
As of 7.25 am ET, the Dow futures were up 178.00 points, the S&P 500 futures were adding 3.25 points and the Nasdaq 100 futures were down 78.25 points.
The U.S. major averages all moved sharply higher on Monday. The Nasdaq spiked 673.71 points or 2.7 percent to 25,253.14, the S&P 500 surged 173.08 points or 2.4 percent to 7,549.94 and the Dow jumped 1,104.02 points or 2.2 percent to 52,389.75.
On the economic front, the Labor Department’s Consumer Price Index or CPI for October will be released at 8.30 am ET. The consensus is 0.3 percent, while it was up 0.6 percent in the prior month.
The 10-year Treasury Note auction will be held at 1.00 pm ET.
Lorie Logan will speak opening remarks before the ‘Energy and the Economy: Tail Risks, Tailwinds and Resiliency’ conference hosted by the Federal Reserve banks of Dallas and Kansas City at 10.50 am ET.
Jeffrey Schmid speak before the ‘Energy and the Economy: Tail Risks, Tailwinds and Resiliency’ conference hosted by the Federal Reserve banks of Dallas and Kansas City at 1.30 pm ET.
Michelle Bowman will speak at economic outlook before the C. Peter McColough Series on International Economics at 3.30 pm ET. Bowman will speaks before virtual event, ‘A View from the Federal Reserve Board’ at 6.30 pm ET.
Anna Paulson will speak on the economic outlook before the Federal Reserve Bank of Philadelphia 81st Annual Field Meeting Capstone at 6.30 pm ET.
Asian stocks rallied on Tuesday. China’s Shanghai Composite index finished marginally higher at 3,663.72 while Hong Kong’s Hang Seng index rose 0.44 percent to 24,557.04.
Japanese markets rose sharply. The Nikkei average soared 2.87 percent to 60,459.58 while the broader Topix index closed 1.98 percent higher at 3,893.71.
Australian markets hit a more than two-month high. The benchmark S&P/ASX 200 climbed 1.10 percent to 9,129. The broader All Ordinaries index settled 1.14 percent higher at 9,267.80.
Business News
Wall Street Poised To Open Broadly Up
2026-11-10 12:45:17
