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Wall Street Might Open Lower


The economic announcements are very light on Tuesday after the long holidays. The investors are focusing on earnings results to come up this week. Major corporates such as IBM Corp, Netflix, Johnson and Johnson, Procter and Gamble, Intel and American Express are reporting this week.

Asian shares finished broadly lower on the day, while European shares are trading down.

Initial trading trends on the U.S. Futures Index suggest that Wall Street might open lower.

As of 7.30 am ET, the Dow futures were losing 43.00 points, the S&P 500 futures were declining 9.00 points and the Nasdaq 100 futures were down 32.75 points.

The U.S. major averages ended Friday moderately higher. The Dow edged up 50.46 points or 0.2 percent to 29,348.10, the Nasdaq rose 31.81 points or 0.3 percent to 9,388.94 and the S&P 500 climbed 12.81 points or 0.4 percent to 3,329.62.

On the economic front, 3-month and six-month Treasury Bill Auction will be held at 11.30 am ET.

Asian stocks fell broadly on Tuesday. China's Shanghai Composite index fell 43.65 points, or 1.41 percent, to 3,052.14.

Hong Kong's Hang Seng index tumbled as much as 2.81 percent to end at 27,985.33.

Japanese shares fell sharply. The Nikkei average declined 218.95 points, or 0.91 percent, to 23,864.56 while the broader Topix index closed 0.53 percent lower at 1,734.97.

Australian markets ended lower after five straight sessions of gains. The benchmark S&P/ASX 200 index dropped 13.20 points, or 0.19 percent, to 7,066.30, while the broader All Ordinaries index ended down 15.80 points, or 0.22 percent, 7,180.50.

European shares are trading mostly lower. The CAC 40 Index of France is down 40.63 points or 0.67 percent, the German DAX is losing 15.47 points or 0.11 percent, the U.K. FTSE 100 Index is declining 60.82 points or 0.80 percent. The Swiss Market Index dropping 1.06 points or 0.01 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.56 percent.

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