Wall Street Pre-Bell Faces Flat Picture; Europe Off; Asia Mixed, Futures Slightly Down
Wall Street pre-bell Tuesday arrives on the heels of mixed closes in Asia, while Europe is trending down. The futures market is showing small red arrows, and two economic data points are due out, with Q3 revised GDP and corporate-profit figures at 8:30 a.m., and then at 10:00 a.m. existing home sales.
In futures, the S&P 500 is off 0.09%; the Nasdaq is off 0.19%; and the Dow is off 0.08%.
In Europe, the bourses gave up early gains, with only energy and oils showing resilience. The FTSE 100 is up 0.27%; but the Euronext 100 is off 0.37%; the French CAC 40 is down 0.52%; and the German DAX is off 0.33%.
Asian stock markets generally advanced Tuesday, on hopes that mainland China would continue to reform its economy and provide stimulus. An official China economic conference concluded Monday after which the news agency Xinhua reported officials vowed to strengthen structural reforms and called for more flexibility in monetary policy, through to be a signal for expansion by the mainland central bank, the People's Bank of China.
Tokyo's Nikkei 225 traded in a narrow range between positive and negative territories but finished down 0.16%, in a day marked by few news events. The yen was flat against the U.S. dollar. The broad measure Nikkei 225 lost 29.32 to 18,886.70, as losers outnumbered gainers 113 to 104.
The Hong Kong Hang Seg Index rose 0.18% on overnight Wall Street gains, and the cues from mainland China regarding more economic stimulus. The broad gauge Hang Seng traded up 38.34 to 21,830.02, as gainers outnumbered losers 25 to 18.
On the mainland, the Shanghai Stock Exchange Composite Index (SHCOMP) rose 0.26% to 3,651.77, on the Xinhua news agency reports.
In other markets, the Mumbai Sensex fell 0.54%; the Taiwan TWSE gained 0.13%; the S. Korean Kospi rose 0.52%; the Thai Set traded sideways; the S&P500/ASX blipped up 0.15%; and the Shanghai composite rose 0.26%.
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