Early signs from the U.S. Futures Index suggest that Wall Street might open moderately higher on Tuesday morning. Considering the 40-year high inflation rates, the stocks were in negative territory on Monday’s close.
Producer Price Inflation reports might be the important announcements on the day. The Fed announcement on Wednesday will attract special from the investors.
As of 7.40 am ET, the Dow futures were up 39.00 points, the S&P 500 futures were adding 8.75 points and the Nasdaq 100 futures were progressing 52.00 points.
The U.S. major U.S. stock indexes ended Monday’s session at their lowest closing levels in over a year. The Dow tumbled 876.05 points or 2.8 percent to 30,516.74, the Nasdaq plummeted 530.80 points or 4.7 percent to 10,809.23 and the S&P 500 plunged 151.23 points or 3.7 percent to 3,749.63
On the economic front, the Labor Department’s Producer Price Index or PPI for May will be released at 8.30 am ET. The consensus is for an increase of 0.8 percent, while it was up 0.5 percent in the prior month.
The 52-week Treasury Bill Auction will be held at 11.30 am ET. The 8-week Treasury Bill Auction will be held at 11.00 am ET.
Asian stocks ended broadly lower on Tuesday. China’s Shanghai Composite index ended up 1.02 percent at 3,288.91. Hong Kong’s Hang Seng index finished marginally higher at 21,067.99.
Japanese shares closed lower. The Nikkei average slid 1.32 percent to 26,629.86. The broader Topix index closed 1.19 percent lower at 1,878.45.
Australian stocks were down. The benchmark S&P/ASX 200 index fell 3.55 percent to 6,686.
European shares are trading lower. CAC 40 of France is down 51.28 points or 0.85 percent. DAX of Germany is declining 77.40 points or 0.58 percent. FTSE 100 of England is sliding 35.62 points or 0.50 percent. Swiss Market Index is losing 141.48 points or 1.30 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.48 percent.
Source: Read Full Article