Early Trends Suggest Wall Street To Open Lower

The highlights on Tuesday might be the U.S. economic announcements, especially the Retail Sales report, Industrial Production data, and homebuilder confidence report.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mostly down, while European shares are trading broadly down.

As of 7.40 am ET, the Dow futures were down 13.00 points, the S&P 500 futures were declining 3.50 points and the Nasdaq 100 futures were sliding 22.50 points.

The U.S. major averages finished in positive territory on Monday. The Nasdaq jumped 131.25 points or 0.9 percent to 14,244.95, the S&P 500 climbed 17.37 points or 0.4 percent to 4,522.79 and the Dow rose 76.32 points or 0.2 percent to 34,585.35.

On the economic front, The Commerce Department’s Retail Sales for June will be released at 8.30 am ET. The consensus is for growth of 0.5 percent, while it was up 0.3 percent in May.

The Industrial Production for June will be issued at 9.15 am ET. The consensus is 0.0 percent, while it was down 0.2 percent in May.

The Business Inventories for May will be revealed at 10.00 am ET. The consensus is for an increase of 0.2 percent, while it was up 0.2 percent in the prior month.

The Housing Market Index for July will be published at 10.00 am ET. The consensus is 56, while in June it was up 55.

The Treasury International Capital for May is scheduled at 4.00 pm ET. In the prior month, the Net Long-Term Securities Transactions were up $127.8 billion.

Asian markets finished trading on a negative note. China’s Shanghai Composite Index dropped 12 points or 0.37 percent to finish trading at 3,197.82.

The Japanese benchmark Nikkei 225 surged 103 points or 0.32 percent to end trading at 32,493.89.

The Hang Seng Index of the Hong Kong Stock Exchange erased 398 points or 2.05 percent from the previous close to finish trading at 19,015.72.

Australia’s S&P/ASX200 closed trading at 7,283.80 after dropping 14.70 points or 0.20 percent.

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