The ISM Manufacturing Index for December might be the only major economic announcement on Tuesday. Initial signs from the U.S. Futures Index point to a lower open for Wall Street.
Asian shares finished broadly higher, while European shares are trading lower.
As of 7.35 am ET, the Dow futures were declining 80.00 points, the S&P 500 futures were down 10.00 points and the Nasdaq 100 futures were sliding 27.00 points.
The U.S. major averages remained firmly negative on Monday. The Dow slumped 382.59 points or 1.3 percent to 30,223.89, the Nasdaq plunged 189.84 points or 1.5 percent to 12,698.45 and the S&P 500 tumbled 55.42 points or 1.5 percent to 3,700.65.
On the economic front, the Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store Sales were up 8.9 percent.
The ISM Manufacturing Index for December will be released at 10.00 am ET. The consensus is for 56.5, while it was up 57.5 in the prior month.
New York Fed President John Williams to chair paper session, “The Monetary-Fiscal Nexus with Ultra-Low Interest Rates” before the ASSA virtual annual meeting at 3.45 pm ET.
Chicago Federal Reserve Bank President Charles Evans to speak on current economic conditions and monetary policy before virtual American Economic Association Annual Meeting: “Federal Reserve Actions During the Coronavirus Pandemic” Panel via Zoom at 3.45 pm ET.
Asian stocks turned in mostly higher on Tuesday. China’s Shanghai Composite index rose 25.72 points, or 0.73 percent, to 3,528.68. Hong Kong’s Hang Seng index ended up 0.64 percent at 27,649.86.
Japanese shares ended modestly lower. The Nikkei average slid 99.75 points, or 0.37 percent, to 27,158.63, while the broader Topix index ended down 0.19 percent at 1,791.22.
Australian markets ended on a flat note amid renewed concerns. The benchmark S&P/ASX 200 index finished marginally lower while the broader All Ordinaries index ended with a positive bias.
European shares are trading mostly lower. Among the major indexes in the region, the German DAX is losing 102.23 points or 0.75 percent, the U.K. FTSE 100 Index is declining 9.96 points or 0.15 percent.
The Swiss Market Index is adding 4.88 points or 0.04 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.75 percent.
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