Wall Street Might Open In Negative Territory

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Initial signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mixed, while European shares are trading on a negative note.
As of 8.25 am ET, the Dow futures were losing 122.00 points, the S&P 500 futures were down 10.50 points and the Nasdaq 100 futures were sliding 28.00 points.

The U.S. major averages all ended with handsome gains on Monday. The Dow ended up 580.25 points or 2.3% at 15595.80, the best closing level in nearly four weeks. The S&P 500 climbed 1.5% to 3,053.24, while the Nasdaq advanced 1.2% to 9,874.15.

On the economic front, Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store Sales were down 6.1 percent.

S&P Corelogic Case-Shiller HPI for April will be released at 9.00 am ET. The consensus is for an increase of 0.5 percent, in line with the growth in the prior month.

The Chicago PMI for June will be revealed at 9.45 am ET. The consensus is for 44.5, up from 32.3 in May.

Consumer Confidence report for June is scheduled at 10.00 am ET. Consensus is for 90.0, up from 86.6 in the prior month.

New York Federal Reserve Bank President John Williams will speak at the live-streamed Institute of International Finance “Central Banking in the Age of Covid-19” Summit at 11.00 am ET.

Asian stocks rose on Tuesday. Chinese shares rose notably. The benchmark Shanghai Composite Index climbed 23.16 points, or 0.8 percent, to 2,984.67. while Hong Kong’s Hang Seng Index ended up 0.5 percent at 24,427.19.

Japanese shares rose sharply. The Nikkei 225 Index jumped 293.10 points, or 1.3 percent, to 22,288.14, while the broader Topix closed 0.6 percent higher at 1,558.77.

Australian markets rallied on Tuesday. The benchmark S&P/ASX 200 Index surged up 82.90 points, or 1.4 percent, to 5,897.90, while the broader All Ordinaries Index ended up 85.70 points, or 1.5 percent, at 6,001.30.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is down 8.97 points or 0.19 percent. The German DAX is adding 25.11 points or 0.21 percent, the U.K. FTSE 100 Index is sliding 45.50 points or 0.73 percent.

The Swiss Market Index is down 33.52 points or 0.33 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.17 percent.

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