Markets

Wall Street Might Open In Negative Territory

(RTTNews) - The monthly Job Openings and Labor Turnover Survey report is the main focus on Tuesday. The demand for labor is slowing this year. Trading activity is expected to remain subdued.

Asian shares finished mixed, while European shares are also trading on a mixed trend.

Early cues from the U.S. Futures Index point to a lower opening.

As of 7.55 am ET, the Dow futures were down 32.00 points, the S&P 500 futures were declining 6.25 points and the Nasdaq 100 futures were losing 28.50 points.

U.S. stock closed broadly lower on Monday. The Dow inched up 38.05 points or 0.1 percent to 26,835.51. The tech-heavy Nasdaq dipped 15.64 points or 0.2 percent to 8,087.44 and the S&P 500 edged down 0.28 points or less than a tenth of a percent to 2,978.43.

On the economic front, Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be published at 8.55 am ET. In the prior week, the stores sales were up 6.5 percent.

The Labor Department's Job Openings and Labor Turnover Survey or JOLTS report for July will be published at 10.00 am ET. The consensus is for 7.311 million, while it was at 7.348 million in the prior month.

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

Asian stocks ended Tuesday's session on a mixed note. Chinese shares ended slightly lower after the release of inflation data. The benchmark Shanghai Composite index slipped 0.12 percent to 3,021.20 while Hong Kong's Hang Seng index ended marginally higher at 26,683.68.

Japanese shares hit a six-week high. The Nikkei average ended the session up 73.68, points, or 0.35 percent, at 21,392.10 after touching 21,438.35, its highest since Aug. 1. The broader Topix index closed 0.44 percent higher at 1,557.99.

Australian markets fell notably, dragged down by technology and healthcare sectors. The benchmark S&P/ASX 200 index dropped 33.90 points, or 0.51 percent, to 6,614.10 while the broader All Ordinaries index ended down 32.10 points, or 0.47 percent, at 6,728.

Australia's business confidence and conditions deteriorated in August. The business confidence index fell to +1 from +4 in July.

European shares are trading mixed. France's CAC 40 is declining 5.95 points or 0.11 percent. Germany's DAX is climbing 30.12 points or 0.25 percent. FTSE 100 of U.K. is adding 5.43 points or 0.07 percent. Swiss Market Index falling by 64.44 points or 0.64 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is declining 0.03 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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