Wall Street Poised To Open Lower

New Home Sales for April, and Fed Manufacturing Index for May will be of focus on Tuesday.

Early trends on the U.S. Futures Index suggest that Wall Street might open lower.

Asian shares finished mostly down, while European shares are trading broadly lower.

As of 7.35 am ET, the Dow futures were falling 68.00 points, the S&P 500 futures were down 8.75 points and the Nasdaq 100 futures were declining 27.75 points.

The U.S. major averages closed mixed on Monday. The Dow slipped after a slightly positive start and ended with a loss of 140.05 points or 0.42 percent at 33.286.58.

The S&P 500 settled at 4,192.63, up 0.65 points or 0.02 percent, while the Nasdaq climbed 62.88 points or 0.5 percent to 12,720.78.

On the economic front, the PMI Composite Flash reports for May will be issued at 9.45 am ET. The manufacturing index consensus is 50.0 and the services Index consensus is 52.6.

The Commerce and the Housing and Urban Development Department’s New Home Sales for April will be released at 10.00 am ET. The consensus is 670K, while it was gaining 683K in the prior month.

The Richmond Fed Manufacturing Index for May will be published at 10.00 am ET. The consensus is for negative 8, while it was down 10 in April.

Two-year Treasury Note auction will be held at 1.00 pm ET.

The Fed Money Supply for April will be released at 1.00 am ET. The M2 level was $20,818.1 billion.

Asian stocks ended mostly lower on Tuesday. Chinese markets fell sharply. China’s Shanghai Composite index fell 1.52 percent to 3,246.34 while Hong Kong’s Hang Seng index closed 1.25 percent lower at 19,431.25.

Japanese shares dropped from a 33-year high. The Nikkei average slipped 0.42 percent to 30,957.77 while the broader Topix index ended 0.66 percent lower at 2,161.49.

Australian markets finished marginally lower.

European shares are trading mostly lower. CAC 40 of France is down 59.63 points or 0.80 percent. DAX of Germany is declining 30.89 points or 0.19 percent. FTSE 100 of England is progressing 21.55 points or 0.28 percent. The Swiss Market Index is sliding 15.27 points or 0.14 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.49 percent.

Source: Read Full Article