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Wall Street To Open In Negative Bias Following Historic Summit


The crucial Trump-Kim summit and the signing of a joint statement for denuclearization of the Korean peninsula is keenly watched across the globe. Trump promised that the war games with North Korea will be stopped.

Early signs from the U.S. Futures Index suggest that Wall Street might open moderately lower.

Investors are monitoring the FOMC meeting and Bank of Japan's decision for no change in policy.

Asian shares finished broadly positive, while European shares are trading lower.

As of 7.45 am ET, the Dow futures were down 27.00 points, the S&P 500 futures were declining 1.50 points and the Nasdaq 100 futures were losing 5.50 points.

U.S. stocks closed higher on Monday. The Dow inched up 5.78 points or less than a tenth of a percent to 25,322.31, the Nasdaq rose 14.41 points or 0.2 percent to 7,659.93 and the S&P 500 edged up 2.97 points or 0.1 percent to 2,782.00.

On the economic front, Consumer Price Index for May will be published at 8.30 am ET. The consensus is for growth of 0.2 percent unchanged from the prior month.

The Redbook data for the week will be issued at 8.55 am ET. The prior week's Store Sales were up 4.0 percent.

30-year Bond Auction will be held at 1.00 pm ET.

U.S. Treasury Budget for May will be released at 2.00 pm ET. The consensus is for a deficit of $144.0 billion, compared to surplus of $214.3 billion.

Asian stocks ended mostly higher on Tuesday. Chinese stocks ended higher, with the benchmark Shanghai Composite closing up 27.02 points or 0.89 percent at 3,079.80, snapping a three-session losing streak. Hong Kong's Hang Seng index inched up 39.36 points or 0.13 percent to 31,103.06.

Japanese shares hit a three-week high after U.S. President Trump said he had "developed a very special bond" with North Korean leader Kim Jong Un during their historic summit. The benchmark Nikkei gained 74.31 points or 0.33 percent to finish at 22,878.35, its highest level since May 22. The broader Topix index also rose by 0.33 percent to end at a three-week high of 1,792.82, led by railway operators and food companies.

Australian shares eked out modest gains in thin trade. The benchmark S&P/ASX 200 index rose 9.20 points or 0.15 percent to 6,054.40 as traders returned to their desks after the Queen's birthday public holiday. The broader All Ordinaries index inched up 8 points or 0.13 percent to end at 6,164.80.

European shares are broadly down. France's CAC 40 is losing 11.76 points or 0.21 percent. Germany's DAX is up 1.67 points or 0.01 percent. FTSE 100 of U.K. is declining 18.79 points or 0.24 percent. Swiss Market Index is up 8.92 points or 0.10 percent.

Eurozone's leading Blue Chip index,Euro Stoxx 50, is edging down 0.04 percent.

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