Wall Street Aims To Bounce Back At Open

On a lean day of economic announcements, the investors might focus on the Commerce Department's report on new residential construction in the month of June.

Earnings news is likely to attract attention on Tuesday, with tech giant IBM Corp. (IBM) releasing their quarterly results after the close of today's trading.

Asian shares finished positive, while European shares are trading higher.

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

As of 7.55 am ET, the Dow futures were adding 227.00 points, the S&P 500 futures were up 23.00 points and the Nasdaq 100 futures were adding 61.50 points.

The U.S. major averages closed firmly negative on Monday. The Dow plunged 725.81 points or 2.1 percent to 33,962.04, the Nasdaq slumped 152.25 points or 1.1 percent to 14,274.98 and the S&P 500 tumbled 68.67 points or 1.6 percent to 4,258.49.

On the economic front, the Commerce Department and the Housing and Urban Development Department's Housing Starts and Permits for June will be released at 8.30 am ET. The consensus is for 1.590 million, while it was up 1.572 million in the previous month.

The Redbook for the week will be released at 8.55 am ET. In the prior week, the store sales were up 14.0 percent.

The eight-week Treasury bill will auction will be held at 11.00 am ET.

Asian stocks ended broadly lower on Tuesday. Chinese shares ended marginally lower. Hong Kong's Hang Seng index dropped 230.53 points, or 0.84 percent, to 27,259.25.

Japanese shares ended lower for the fifth straight session. The Nikkei average fell 264.58 points, or 0.96 percent, to 27,388.16, marking its lowest since Jan. 6. The broader Topix index closed 0.96 percent lower at 1,888.89. Japanese markets will be closed on Thursday and Friday for public holidays.

Australian markets ended off their day's lows. The benchmark S&P/ASX 200 hit its lowest level since June 2 before ending the session down 33.80 points, or 0.46 percent, at 7,252.20. The broader All Ordinaries index dropped 33.90 points, or 0.45 percent, to 7,525.80.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 48.86 points or 0.78 percent. The German DAX is adding 38.08 points or 0.76 percent, the U.K. FTSE 100 Index is gaining 31.70 points or 0.46 percent.

The Swiss Market Index is adding 90.30 points or 0.76 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.49 percent.

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