Futures Point To Lower Opening For Wall Street

(RTTNews) - Consumer Confidence for December, S&P Home Price Index and FHFA's House Price Index for October are the major announcements on Tuesday. Trading activities might be subdued on the New Year eve. Many of the markets are closed for the day.

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

Initial cues from the U.S. Futures suggest that Wall Street might open lower.

As of 8.10 am ET, the Dow futures were sliding 2.00 points, the S&P 500 futures were declining 0.25 points and the Nasdaq 100 futures were falling 5.00 points.

The U.S. major averages finished Monday firmly in negative territory. The Dow fell 183.12 points or 0.6 percent to 28,462.14, the Nasdaq dropped 60.62 points or 0.7 percent to 8,945.99 and the S&P 500 slid 18.73 points or 0.6 percent to 3,221.29.

On the economic front, S&P Corelogic Case-Shiller Home Price Index will be released at 9.00 am ET. The consensus is for an increase of 0.4 percent, unchanged from the prior month.

Federal Housing Finance Agency or FHFA's House Price Index for October will be issued at 9.00 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.6 percent in the previous month.

The Conference Board's Consumer Confidence from December will be revealed at 10.00 am ET. The consensus is for a growth of 128.0, slightly up from 125.5 in November.

In the corporate world, former Nissan Chairman Carlos Ghosn, who is expected to face trial in Japan fled to Lebanon by a private jet. He said he "escaped injustice and political persecution."

Asian stocks closed mostly lower on Tuesday. Bucking the trend, Chinese shares rose in the last trading session of the year after official data showed that China's manufacturing sector expanded for the second straight month in December. The benchmark Shanghai Composite Index added 10.10 points or 0.3 percent to finish at 3,050.12.

Some of the regional markets were closed for New Year's Eve, including Japan, South Korea, Indonesia and Thailand.

Hong Kong's Hang Seng Index dipped 129.64 points or 0.5 percent to finish at 28,189.75 in a shortened trading session.

Australian stocks finished the last trading day of the year notably lower as investors resorted to profit taking. The benchmark S&P/ASX 200 Index declined 120.80 points or 1.8 percent to close at 6,684.10, and the broader All Ordinaries Index lost 119.20 points or 1.7 percent to settle at 6,802.40.

abbreviated trading session, while Taiwan's TSEC Weighted Index dropped 56.23 points or 0.5 percent to close at 11,997.14. Malaysia's KLCI is losing more than 1 percent.

The markets in Japan, South Korea, Indonesia and Thailand were closed on Tuesday for holidays.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is losing 0.42 or 0.01 percent. The German DAX is down 88.10 points or 0.66 percent, the U.K. FTSE 100 Index is declining 44.61 points or 0.59 percent. The Swiss Market Index is sliding 113.21 points or 1.06 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is increasing 0.52 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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