Futures Point To Positive Open For Wall Street

(RTTNews) - Early cues from the U.S. Futures Index suggest that Wall Street might open positive on Tuesday. Trading on the day might be impacted by reaction to reports on durable goods orders, home prices and consumer confidence.

Asian shares finished mostly lower, while European shares are trading the negative territory.

As of 8.10 am ET, the Dow futures were adding 61.00 points, the S&P 500 futures were up 12.50 points and the Nasdaq 100 futures were progressing 63.50 points.

The U.S. major averages remained firmly negative on Monday close. The Dow plunged 650.19 points or 2.3 percent to 27,685.38, the Nasdaq slumped 189.34 points or 1.6 percent to 11,358.94 and the S&P 500 tumbled 64.42 points or 1.9 percent to 3,400.97.

On the economic front, Durable Goods Orders for September will be issued at 8.30 am ET. The consensus is for increase of 0.4 percent, while it was 0.4 percent in August too. Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be released at 8.55 am ET. In the prior week, the Store Sales were up 2.5 percent.

Case-Shiller House Price Index for August will be revealed at 9.00 am ET. The consensus is for 0.4 percent, while it was up 0.6 percent in the previous month. The Federal Housing Finance Agency or FHFA House Price Index for August is scheduled at 9.00 am ET. The consensus is for 0.7 percent, while it was up 1.0 percent in the previous month.

Richmond Fed Manufacturing Index for October will be published at 10.00 am ET. The consensus is for 18, down from 21 in September.

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

Asian stocks fell on Tuesday. Chinese shares ended flat with a positive bias. Hong Kong's Hang Seng index dropped 0.53 percent to 24,787.19.

Japanese shares ended little changed. The Nikkei average fell over 1 percent in early trade before ending the session marginally lower at 23,485.80. The broader Topix index closed 0.09 percent lower at 1,617.53.

Australian markets hit a three-week low. The benchmark S&P/ASX 200 fell 104.60 points, or 1.70 percent, to 6,051, extending losses for the fourth straight session. The broader All Ordinaries index ended down 110.10 points, or 1.73 percent, at 6,247.20.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is down 93.52 points or 1.90 percent. The German DAX is losing 30.98 points or 0.25 percent, the U.K. FTSE 100 Index is sliding 3.80 points or 0.07 percent.

The Swiss Market Index is down 16.97 points or 0.17 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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