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Wall Street Set To Open Lower

wallstreet dec10 lt

Economic announcements are relatively light on Tuesday. Labor productivity and costs in the third quarter and Redbook data might attract some attention.

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

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

As of 7.45 am ET, the Dow futures were down 106.00 points, the S&P 500 futures were declining 10.50 points and the Nasdaq 100 futures were losing 35.75 points.

The U.S. major averages ended Monday's session just off their lows of the day. The Dow slid 105.46 points or 0.4 percent to 27,909.60, the Nasdaq fell 34.70 points or 0.4 percent to 8,621.83 and the S&P 500 dropped 9.95 points or 0.3 percent to 3,135.96.

On the economic front, the Labor Department's Productivity and Costs for the third quarter will be published at 8.30 am ET. The consensus is for a decline of 8.30 am ET.

Redbook data, a weekly measure of comparable store sales at chain stores, discounters and department stores will be released at 8.55 am ET. In the prior week, the store sales were up 7.9 percent.

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

Asian stocks ended on a muted note Tuesday. Chinese shares ended on a flat note. The benchmark Shanghai Composite index ended up 2.84 points at 2,917.32 while Hong Kong's Hang Seng index edged down 0.22 percent to 26,436.62.

Japanese shares finished marginally lower. The Nikkei average and the broader Topix index both ended little changed with negative bias at 23,410.19 and 1,720.77, respectively.

Australian markets retreated. The benchmark S&P/ASX 200 index slid 23.10 points, or 0.34 percent, to 6,706.90 while the broader All Ordinaries index ended down 24.30 points, or 0.36 percent, at 6,812.10.

European shares are trading in the red. France's CAC 40 is declining 53.72 points or 0.92 percent. Germany's DAX is down 184.96 points or 1.40 percent. FTSE 100 of U.K. is lowering by 64.58 points or 0.89 percent. Swiss Market Index is down 110.16 points or 1.06 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is declining 1.19 percent.

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