The market might be strongly reacting to President Trump’s decision on landmark Iran nuclear deal that to be announced this afternoon. The U.S. is planning to pull out of the deal, while global allies are for sticking on to the deal signed in 2015 by Obama. Political analysts are fearing dangerous consequences for Trump’s move and that might lead to a war with Iran in the worst case. The immediate impact might be on energy sector.
Early trends on U.S. Futures suggest that Wall Street might open in red. Asian shares finished positive, while European shares are trading down-bound.
As of 7.15 am ET, the Dow futures were falling 70.00 points, the S&P 500 futures were down 10.25 points and the Nasdaq 100 futures were declining 31.00 points.
U.S. stocks closed higher on Monday. The Dow rose 94.81 points or 0.4 percent to 24,357.32, the Nasdaq advanced 55.60 points or 0.8 percent to 7,265.23 and the S&P 500 climbed 9.21 points or 0.4 percent to 2,672.63.
On the economic front, the Labor Department’s Job Openings and Labor Turnover Survey or JOLTS report that tracks monthly change in job openings and offers rates on hiring and quits will be released at 10.00 am ET. The consensus is for 6.100 million, while it stood at 6.052 million in February.
Federal Reserve Chair Jerome Powell will discuss “Monetary Policy Influences on Global Financial Conditions and International Capital Flows” at the Swiss National Bank and International Monetary Fund High Level Conference on the International Monetary System, in Zurich, with moderator Q&A at 3.15 pm ET.
The National Federation of Independent Business’s Small Business Optimism Index for April will be published at 6.00 am ET. The market analysts consensus is for 104.9, while the prior month’s index was 104.7.
Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be published at 8.55 am ET. In the prior week, the Store sales were 3.5 percent.
Three-year Note Auction will be held at 1.00 pm ET.
In the corporate segment, Dean Foods Company reported first-quarter break-even per share compared to a loss of $0.11, last year. On an adjusted basis, net income was $13 million or $0.14 per share, while analysts expected the company to report profit of $0.10 per share. First-quarter net sales declined year-over-year to $1.98 billion from $2.00 billion. The company said its volume performance and mix in-line with expectations, for the quarter.
Asian stocks ended higher on Tuesday. China’s Shanghai Composite index climbed 24.85 points or 0.79 percent to 3,161.50. Chinese exports climbed 12.9 percent year-over-year in April, while imports surged 21.5 percent from a year ago, both exceeding analysts projections. The trade surplus totaled $28.8 billion in April.
Hong Kong’s Hang Seng index finished up 408.55 points or 1.36 percent at 30,402.81.
Japanese shares ended modestly higher. The benchmark Nikkei gained 41.53 points or 0.18 percent to end at 22,508.69, while the broader Topix index closed 0.37 percent higher at 1,779.82.
Australian shares ended marginally higher. Retail sales remained flat in March. The benchmark S&P/ASX 200 index inched up 7.40 points or 0.12 percent to 6,091.90 while the broader All Ordinaries index ended 7.60 points higher at 6,183.20.
European shares are trading mostly in the red. Among the major indexes in the region, the CAC 40 Index of France is losing 32.47 points or 0.59 percent. The German DAX is declining 78.42 points or 0.61 percent, the U.K. FTSE 100 Index is up 2.24 points or 0.03 percent. The Swiss Market Index is edging down 38.50 points or 0.43 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is declining 0.60 percent.
by RTTNews Staff Writer
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