Plus   Neg

Futures Point To Lower Open For Wall Street

wallstreet aug12 lt

Early signs from the U.S. Futures Index suggest that Wall Street might open in negative territory on Monday.

Asian shares closed mostly positive, while European shares are trading broadly lower.

On a lean day of economic announcements, Treasury Budget will be the major focus. Consensus is for a wide deficit from the prior month.

Macy's, Cisco Systems , and Walmart are among the companies due to report their quarterly results this week.

As of 7.45 am ET, the Dow futures were losing 180.00 points, the S&P 500 futures were declining 20.25 points and the Nasdaq 100 futures were declining 56.00 points.

U.S. stocks closed lower on Friday. The blue chip index ended the day down 90.75 points or 0.3 percent to 26,287.44. The Nasdaq slumped 80.02 points or 1 percent to 7,959.14 and the S&P 500 slid 19.44 points or 0.7 percent to 2,918.65.

On the economic front, Treasury Budget for July will be issued at 2.00 pm ET. The consensus is for a deficit of $87.5 billion, while it was a deficit of $8.5 billion in the prior month.

Six-month bill auction will be held at 11.30 am ET.

Asian stocks ended mostly higher on Monday. China's Shanghai Composite index ended up 40.24 points or 1.45 percent at 2,814.99. Hong Kong's Hang Seng index slid 0.44 percent to 25,824.72.

Australian stocks ended on a flat note. The benchmark S&P/ASX 200 index inched up 5.90 points to 6,590.30 while the broader All Ordinaries index ended up 6.70 points at 6,670.10.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is losing 25.57 points or 0.48 percent, the German DAX is declining 28.27 points or 0.23 percent, the U.K. FTSE 100 Index is down 31.33 points or 0.43 percent. The Swiss Market Index is progressing 14.75 points or 0.15 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.28 percent.

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