Wall Street Sees Red, Focus On Earnings

Earnings reports might be the highlight on Tuesday morning. Major companies such as Alphabet, Microsoft, Texas Instruments, Chubb, and Juniper Networks will be reporting their quarterly results after the bell today.

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

As of 7.05 am ET, the Dow futures were sliding 95.00 points, the S&P 500 futures were down 20.00 points and the Nasdaq 100 futures were declining 53.00 points.

The U.S. major averages eventually ended Monday mixed. The Nasdaq fell 35.25 points or 0.3 percent to 12,037.20, the S&P 500 inched up 3.52 points or 0.1 percent to 4,137.04 and the Dow rose 66.44 points or 0.2 percent to 33,875.40.

On the economic front, Consumer Confidence for April will be issued at 10.00 am ET. The consensus is for 104, while it was up 104.2 in the prior month.

Richmond Fed Manufacturing Index for April is scheduled at 10.00 am ET. In March it was negative 5.

The Case-Shiller Home Price Index for February will be published at 9.00 am ET. The consensus is for a decline of 3 percent, while it was down 0.4 percent in the previous month.

The Federal Housing Finance Agency or FHFA House Price Index for February will be announced at 9.00 am ET. The consensus is for down 0.1 percent, while in January it was up 0.2 percent.

The Commerce, the Housing and Urban Development Department’s New Home Sales for March will be revealed at 10.00 am ET. The consensus is 634K, while it was up 640K in the previous month.

Two-year Treasury Note Auction will be held at 1.00 PM ET.
The Fed Money Supply for March will be issued at 1.00 pm ET. In February, the M2 supply was negative $121 billion.

Asian stocks ended mostly lower in thin trade on Tuesday. Chinese shares ended lower. The benchmark Shanghai Composite index dropped 0.32 percent to 3,264.87.

Hong Kong’s Hang Seng index fell 1.71 percent to 19,617.88. Alibaba Group Holdings tumbled 3.2 percent and Baidu plummeted 3.7 percent.

Japanese shares finished marginally higher. The Nikkei average ended marginally higher at 28,620.07, giving up early gains as caution prevailed ahead of Friday’s BOJ policy meeting. The broader Topix index closed 0.24 percent higher at 2,042.15.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 50.63 points or 0.66 percent. The German DAX is declining 25.57 points or 0.15 percent, the U.K. FTSE 100 Index is sliding 27.58 points or 0.35 percent.

The Swiss Market Index is gaining 40.64 points or 0.35 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.63 percent.

Source: Read Full Article