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Wall Street To Open Cautious

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Fed Chairman Jerome Powell's Stress Test remarks, the JOLTS report and a slew of Fed talks are the major highlights on Tuesday.

Asian shares finished broadly lower, while European shares are trading in the red.

Initial trend on U.S. Futures Index point to a lower opening.

As of 7.45 am ET, the Dow futures were down 98.00 points, the S&P 500 futures were losing 10.75 points and the Nasdaq 100 futures were declining 31.25 points.

U.S. stocks finished lower on Monday. The major averages ended the day firmly in negative territory but off their lows of the session. The Dow slid 115.98 points or 0.4 percent to 26,806.14, the Nasdaq slumped 63.41 points or 0.8 percent to 8,098.38 and the S&P 500 fell 14.46 points or 0.5 percent to 2,975.95.

On the economic front, Redbook data, a weekly measure of comparable store sales at chain stores, discounters, and department stores, will be issued at 10.00 am ET.

Federal Reserve Chairman Jerome Powell will deliver opening remarks at the "Stress Testing: A Discussion and Review" Conference held at the Boston Federal Reserve Bank in Boston, MA at 8.45 am ET.

St. Louis Federal Reserve Bank President James Bullard will give welcome address at OMFIF Foundation Main Meeting at Washington University's Knight Center in Saint Louis, Missouri at 10.00 am ET.

The Labor Department's Job Openings and Labor Turnover Survey or JOLTS report for May will be published at 10.00 am ET. The consensus is for an increase of 7.400 million, while it was up 7.449 million in the prior month.

Atlanta Federal Reserve Bank President Raphael Bostic will speak about monetary policy in an Armchair Chat at the Official Monetary and Financial Institution Forum Conference held in Washington University, St. Louis, Missouri at 1.00 pm ET.

Three year Treasury Note auction will be held at 1.00 pm ET.

Fed Vice Chairman for Supervision Randal Quarles will deliver the keynote speech at the "Stress Testing: A Discussion and Review" Conference hosted by the Federal Reserve Bank of Boston, in Boston, MA at 2.00 pm ET.

Asian stocks fell broadly on Tuesday. China's Shanghai Composite index fell 5.13 points or 0.18 percent to 2,928.23. Hong Kong's Hang Seng index dropped 0.76 percent to 28,116.28.

Japanese markets eked out small gains. The Nikkei average edged up 30.80 points or 0.14 percent to 21,565.15. The broader Topix index closed 0.22 percent lower at 1,574.89.

Australian markets finished marginally lower. The benchmark S&P/ASX 200 index ended down 6.50 points at 6,665.70 while the broader All Ordinaries index slipped 7.30 points to close at 6,750.10.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 20.33 points or 0.36 percent, the German DAX is falling points 126.53 points or 1.01 percent, the U.K. FTSE 100 Index is down 2.86 points or 0.04 percent. The Swiss Market Index is declining 52.18 points or 0.17 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.50 percent.

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