Wall Street Might Open Lower

(RTTNews) - The Housing Starts and Permits Data for August might be the major attraction on Tuesday. Investors are keen on the Fed announcement on Wednesday. The Federal Open Market Committee meeting has begun today.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower at the open.

Asian shares finished positive, while European shares are trading lower.

As of 7.45 am ET, the Dow futures were declining 108.00 points, the S&P 500 futures were down 17.75 points and the Nasdaq 100 futures were sliding 64.25 points.

The U.S. major averages ended firmly positive on Tuesday. The Dow rose 197.26 points or 0.6 percent to 31,019.68, the Nasdaq advanced 86.62 points or 0.8 percent to 11,535.02 and the S&P 500 climbed 26.56 points or 0.7 percent to 3,899.89.

On the economic front, the Commerce, Housing & Urban Development Department's Housing Starts and Permits Data for August will be published at 8.30 am ET. The consensus is for 1.440 million, while it was 1.446 million in the prior month. Twenty-year Treasury Bond Auction will be held at 1.00 pm ET.

Asian stocks were positive at the close today. China's Shanghai Composite index edged up 0.22 percent to 3,122.41. Hong Kong's technology-heavy Hang Seng index rose 1.16 percent to 18,781.42.

Japanese shares rose to 3.0 percent, its highest level since November 1991. The Nikkei average rose 0.44 percent to 27,688.42 while the broader Topix index ended 0.45 percent higher at 1,947.27.

Australian markets ended sharply higher. The benchmark S&P ASX 200 jumped 1.29 percent to 6,806.40 while the broader All Ordinaries index gained 1.17 percent to close at 7,030.

European shares are trading in negative. CAC 40 of France is down 44.09 points or 0.73 percent. DAX of Germany is declining 80.83 points or 0.63 percent. FTSE 100 of England is down 3.79 points or 0.05 percent. Swiss Market Index is sliding 57.43 points or 0.54 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.47 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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