Wall Street Likely To Open On Cautious Note

Wall Street Likely To Open On Cautious Note

Slightly lower U.S. stock futures point to a flat start for the U.S. market on Tuesday. With most of the markets in Asia and Europe closed for Labor Day holiday, the mood is likely to be cautious in the market.

Concerns about trade tensions between the U.S. and China are likely to weigh on sentiment.

On Monday, the market ended in negative territory, with the Dow declining 148.04 points or 0.6 percent to 24,163.15, the Nasdaq sliding 53.53 points or 0.8 percent to 7,066.27 and the S&P 500 edging down by 21.86 points or 0.8 percent to 2,648.05.

The market declined yesterday, as traders looked ahead the Federal Reserve’s monetary policy announcement on Wednesday and a slew of corporate earnings reports.

Pfizer will be in focus today, after the company reported higher-than-expected net profit of $3.56 billion for the first quarter ended March 2018. That was up from a net profit of $3.12 billion in the year-ago quarter.

The market is looking ahead to Apple Inc.’s quarterly results, due after trading hours today. Mondelez International, Aetna Inc. and Under Armour Inc. will also report their earnings during the course of the day.

Meanwhile, crude oil prices declined Tuesday morning, amid signs of rising production and stockpiles. Crude oil futures for June shed 75 cents, or 1.1%, to $68.47 a barrel on the New York Mercantile Exchange.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

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