Markets

Futures Point To Moderately Lower Open For Wall Street

(RTTNews) - Investors are also likely to keep an eye on earnings, as well as the new coronavirus relief bill. Factory Orders is the major economic announcement on the day. The World Health Organization warned that there might never be a 'silver bullet for the new coronavirus, despite the rush for vaccines.

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

As of 8.20 am ET, the Dow futures were down 76.00 points, the S&P 500 futures were sliding 13.50 points and the Nasdaq 100 futures were progressing 40.50 points.

The U.S. major averages all closed firmly in positive territory on Monday. The Nasdaq surged 157.52 points or 1.5 percent to 10,902.80, the Dow advanced 236.08 or 0.9 percent to 26,664.40 and the S&P 500 climbed 23.49 points or 0.7 percent to 3,294.61.

On the economic front, the Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store Sales were down 7.2 percent. The Factory Orders for June will be published at 10.00 am ET. The consensus is a growth of 5.2 percent, while it was up 8 percent in the previous week.

Asian stocks rose higher on Tuesday. Chinese shares edged up slightly, with banks rising after the People's Bank of China said it will extend the grace period for implementation of sweeping asset management rules to the end of 2021. The benchmark Shanghai Composite index inched up 0.11 percent to 3,371.69, while Hong Kong's Hang Seng index jumped 2 percent to 24,946.63. Japanese shares extended gains from the previous session. The Nikkei average jumped 378.28 points, or 1.70 percent, to 22,573.66, while the broader Topix index closed 2.14 percent higher at 1,555.26.

Australian shares rose the most in two weeks.

The benchmark S&P/ASX 200 index climbed 111.50 points, or 1.88 percent, to 6,037.60, while the broader All Ordinaries index rallied 112.60 points or 1.86 percent, to 6,166.50.

European shares are trading mostly lower. CAC 40 of France is losing 2.24 points or 0.05 percent. DAX of Germany is down 64.66 points or 0.51 percent. FTSE 100 of England is progressing 3.17 points or 0.05 percent. Swiss Market Index is sliding 73.59 points or 3.99 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.18 percent.

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

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More