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Wall Street Might Open In Slightly Negative

wallsteet jan14 lt

Consumer Price Index for December will get attraction on Tuesday. Investors are keen on geopolitical update and U.S. China trade developments.

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

Early cues from the U.S. Futures Index suggest that Wall Street might open on a negative territory.

As of 7.45 am ET, the Dow futures were slipping 5.00 points, the S&P 500 futures were down 3.00 points and the Nasdaq 100 futures were losing 11.75 points.

The U.S. shares closed higher on Monday. The Dow rose 83.28 points or 0.3 percent to 28,907.05, the Nasdaq jumped 95.07 points or 1 percent to 9,273.93 and the S&P 500 advanced 22.78 points or 0.7 percent to 3,288.13.

On the economic front, Consumer Price Index for December will be published at 8.30 am ET. The consensus is for an increase of 0.3 percent, unchanged from the prior month.

Redbook data for the week will be issued at 8.55 am ET. In the prior week, the store sales were up 6.1 percent.

San Francisco Fed Chair John William will make a public speech at 9.00 am ET. Kansas Fed President Esther George is scheduled to speak at 1.00 pm ET.

In the corporate sector, JPMorgan Chase & Co. reported an increase in fourth quarter profit to $8.52 billion, or $2.57 per share from $7.07 billion, or $1.98 per share in the prior year. Revenue for the quarter rose 9.0 percent to $29.21 billion from $26.80 billion last year.

Asian stocks ended broadly higher on Tuesday. China's yuan jumped and Chinese shares slipped from a two-year high. The benchmark Shanghai Composite index dropped 8.75 points, or 0.28 percent, to 3,106.82, while Hong Kong's Hang Seng index ended down 69.80 points, or 0.24 percent, at 28,885.14.

China's exports rose an annual 7.6 percent in the month and imports grew 16.3 percent from a year earlier.

Japanese shares advanced. The Nikkei average climbed 174.60 points, or 0.73 percent, to 24,025.17. The broader Topix index closed 0.31 percent higher at 1,740.53.

Australian markets hit record highs. The benchmark S&P/ASX 200 index climbed 58.50 points, or 0.85 percent, to 6,962.20 while the broader All Ordinaries index ended up 57.80 points, or 0.82 percent, at 7,078.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is losing 2.06 points or 0.03 percent, the German DAX is gaining 8.17 points or 0.06 percent, the U.K. FTSE 100 Index is dropping 0.67 points or 0.01 percent. The Swiss Market Index is declining 8.59 points or 0.08 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.14 percent.

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