Wall Street Might Open In Negative Territory

The minutes as well as Existing Home Sales might be in the spotlight on Tuesday.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

As of 7.30 am ET, the Dow futures were down 35.00 points, the S&P 500 futures were declining 5.00 points and the Nasdaq 100 futures were sliding 22.50 points.

The U.S. major averages remained firmly positive on Monday. The Nasdaq jumped 159.05 points or 1.1 percent to 14,284.53, the S&P 500 climbed 33.36 points or 0.7 percent to 4,547.38 and the Dow rose 203.76 points or 0.6 percent to 35,151.04.

On the economic front, the Chicago Fed National Activity Index for October will be issued at 8.30 am ET. In the prior month, the Index was up 0.02.

Ten-year Treasury inflation-protected Securities or TIPS auction will be held at 1.00 pm ET.

The Existing Home Sales for October will be held at 10.00 am ET. The consensus is for 3.91 million, while it was up 3.96 million in the previous month.

The Federal Open Market Committee or FOMC minutes will be published 2.00 pm ET.

Asian stocks ended mixed on Tuesday. China’s Shanghai Composite index finished marginally lower at 3,067.93.

Hong Kong’s Hang Seng index settled down 0.25 percent at 17,733,89.

Japanese shares ended slightly lower as shares of automakers fell on a stronger yen.

The Nikkei average ended 0.10 percent lower at 33,354.14. The broader Topix index eased 0.20 percent to close at 2,367.79.

Australian markets eked out modest gains. The benchmark S&P ASX 200 rose 0.28 percent to 7,078.20 while the broader All Ordinaries index ended up 0.28 percent at 7,289.30.

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