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Wall Street Set To Open Lower

wallstreet jun12 lt

Trading in the U.S. index futures suggests that Wall Street stocks might open Wednesday's session lower. Market is particularly concerned about the ongoing U.S. - China trade tensions.

Labor Department's Consumer Price Index for May, Atlanta Fed Business Inflation Expectations are the major highlights in Economic announcements.

Asian shares closed mixed. European shares are trading mostly lower.

As of 8.00 am ET, the Dow futures were down 72 points, the S&P 500 futures were sliding 6.75 points and the Nasdaq 100 futures are declining 32.00 points.

U.S. stocks closed lower on Tuesday. After closing higher for six consecutive sessions, the Dow slipped 14.17 points or 0.1 percent to 26,048.51. The Nasdaq edged down 0.60 points or less than a tenth of a percent to 7,822.57, while the S&P 500 dipped 1.01 points or less than a tenth of a percent to 2,885.72.

On the economic front, the Labor Department's Consumer Price Index for May will be issued at 8.30 am ET. The consensus is for an increase of 0.1 percent, lower than 0.3 percent growth in the prior month.

Atlanta Fed Business Inflation Expectations for June will be issued at 10.00 am ET. In the previous month the expectations were up 2.0 percent.

The Energy Information Administration or EIA's Petroleum Status Report for the week will be issued at 10.30 am ET. In the previous week, the Crude Oil Inventories were up 6.8 million barrels, while Gasoline inventories were 3.2 million barrels.

Ten year Treasury Note auction will be held at 2.00 pm ET.

Asian stocks ended mostly lower on Wednesday. Chinese shares fell after the release of weak factory inflation data and amid concerns over an escalation in the Sino-U.S. trade war. The benchmark Shanghai Composite index ended down 16.34 points or 0.56 percent at 2,909.38.

Hong Kong's Hang Seng index fell as much as 1.73 percent to 27,308.46. Japanese shares declined and the yen rose slightly against the dollar as investors fretted about a worsening U.S.-China relationship.

The Nikkei average dropped 74.56 points or 0.35 percent to 21,129.72 while the broader Topix index closed 0.45 percent lower at 1,554.22.

Australian markets gave up early gains to end on a flat note. The S&P/ASX 200 index ended marginally lower at 6,543.70, snapping a five-session winning streak. The broader All Ordinaries index edged up 4.50 points to 6,628.90.

European shares are trading down. Among the major indexes in the region, the CAC 40 Index of France is declining 43.81 points or 0.81 percent, the German DAX is falling 70.15 points or 0.57 percent, the U.K. FTSE 100 Index is slipping 58.35 points or 0.79 percent and the Swiss Market Index is sliding 2.96 points or 0.03 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.68 percent.

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