Wall Street Might Open Broadly Lower


Early signs from the U.S. Futures Index suggest that Wall Street might open broadly down on Tuesday.

Housing Starts and Permits might be the focus today. Investors are monitoring energy prices and geopolitical developments across the globe.

A relief in gas prices with the national average of $3.123 might be much appreciated during this holiday season.

Asian shares finished lower, while European shares are trading mostly down.

As of 7.10 am ET, the Dow futures were up 38.00 points, the S&P 500 futures were declining 0.25 points and the Nasdaq 100 futures were down 25.50 points.

The U.S. major averages all ended notably lower on Monday. The Dow settled with a loss of 162.92 points or 0.49 percent at 32,757.54, the S&P 500 dropped 34.70 points or 0.90 percent to settle at 3,817.66, and the Nasdaq ended lower by 159.38 points or 1.49 percent at 10,546.03.

On the economic front, the Commerce and Housing & Urban Development departments’ Housing Starts and Permits for November will be issued at 8.30 am ET. The consensus for housing starts is 1.400 million, while it was up 1.425 million in October.

The consensus for housing permits is 1.495 million, while it was up 1.512 million in the previous month.

Four-month Treasury bills auction will be held at 11.00 am ET.

Asian stocks tumbled on Tuesday. China’s Shanghai Composite index finished 1.07 percent lower at 3,073.77.

Hong Kong’s Hang Seng index slumped 1.33 percent to 19,094.80.

Japanese shares were down. The Nikkei average plummeted 2.46 percent to 26,568.03. The broader Topix index closed 1.54 percent lower at 1,905.59.

Australian markets slumped. The benchmark S&P/ASX 200 index dropped 1.54 percent to 7,024.30 while the broader All Ordinaries index ended 1.66 percent lower at 7,199.60.

European shares are trading lower. CAC 40 of France is down 16.78 points or 0.26 percent. DAX of Germany is declining 34.35 points or 0.25 percent. FTSE 100 of England is sliding 2.03 points or 0.03 percent. The Swiss Market Index is down 62.35 points or 0.58 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.016 percent.

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