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Wall Street To Open Broadly Lower


Early signs from U.S. Futures Market suggest that Wall Street might open broadly lower. The International Trade Deficit, PMI Index and ISM's Non-manufacturing Index are the major economic announcements on Tuesday. Asian shares were reacting to changes in global oil price and finished lower. European shares are trading broadly down.

As of 6.15 am ET, the Dow futures were adding 28 points, the S&P 500 futures were shedding 1.00 points and the Nasdaq 100 futures were slipping 32.75 points.

U.S. stocks closed mixed on Monday, with Nasdaq and S&P 500 finished in negative territory. The Dow rose 58.46 points or 0.2 percent to 24,290.05, but the Nasdaq tumbled 72.22 points or 1.1 percent to 6,775.37 and the S&P 500 edged down 2.78 points or 0.1 percent to 2,639.44.

On the economic front, the Commerce Department's International Trade deficit for October will be published at 8.30 am ET. The economists are looking for a consensus of deficit of $47.4 billion, compared to deficit of $43.5 billion in the previous month.

The Redbook data, the weekly measure of comparable store sales at chain stores, discounters, and department stores for the week will be issued at 8.55 am ET. The prior week store sales were u 4.8 percent.

The US Services Purchasing Managers' Index or PMI for November is expected at 9.45 am ET. The consensus is for 54.7, slightly down from 55.3 in the previous month.

Institute for Supply Management's Non-manufacturing Index for November will be published at 10.00 am ET. The forecasters are looking for 59.0, compared to 60.1 in the prior month.

In the corporate sector, Toll Brothers, Inc. reported fourth-quarter net income of $191.9 million, or $1.17 per share, compared to $114.4 million, or $0.67 per share, prior year. Fourth-quarter revenues were $2.03 billion, increased 9 percent from last year. Home building deliveries climbed nine percent to 2,424 units.

Asian stocks closed broadly lower on Tuesday as a reaction to fall of oil prices by one percent and disappointing Brexit talks. Chinese shares ended lower. China's official non-manufacturing PMI rose to 54.8 in November from 54.3 in October. Shanghai Composite index dropped 5.94 points or 0.18 percent to 3,303.68 while Hong Kong's Hang Seng index finished 295.48 points or 1.01 percent.

Japanese shares fell.The Nikkei average shed 84.78 points or 0.37 percent to finish at 22,622.38 while the broader Topix index closed 0.23 percent higher at 1,790.97.

Australian shares closed lower, dragged down by financials. The benchmark S&P/ASX 200 slid 13.80 points or 0.23 percent to 5,971.80 while the broader All Ordinaries index ended 0.22 percent lower at 6,057.30.

European shares are trading mostly down. Among the major indexes in the region, the CAC 40 Index of France is down 30.69 points or 0.57 percent, the German DAX is losing 70.63 points 0.54 percent, the U.K. FTSE 100 Index is adding 2.33 points or 0.03 percent and the Swiss Market Index is declining 24.83 points or 0.28 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.58 percent.

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