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Wall Street Set To Open Broadly Lower

wallstreet aug09 lt

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

Asian shares finished mixed, while European shares are trading mostly down.

This week's trading might be impacted by reaction to reports on consumer and producer price inflation.

As of 7.55 am ET, the Dow futures were down 93.00 points, the S&P 500 futures were declining 6.50 points and the Nasdaq 100 futures were progressing 17.50 points.

The U.S. majors finished broadly higher on Friday. The Nasdaq fell 59.36 points or 0.4 percent to 14,835.76, but the Dow climbed 144.26 points or 0.4 percent to 35,208.51 and the S&P 500 rose 7.42 points or 0.2 percent to 4,416.56

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

Atlanta Federal Reserve Bank President Raphael Bostic to speak on "Building an Inclusive Economy" before virtual Greater Fort Lauderdale Alliance Foundations Prosperity Partnership event at 10.10 am ET.

Richmond Federal Reserve Bank President Thomas Barkin will speak on the economic outlook for Virginia's Blue Ridge and beyond before an in-person Roanoke Regional Chamber luncheon at 11.30 am ET.

The Investor Movement Index or IMX for July will be issued at 12.30 pm ET. In the prior month, the Index was at 9.08.

Asian stocks ended mixed on Monday. Japanese markets were closed for Mountain Day holiday.

Chinese shares rose sharply. The benchmark Shanghai Composite index climbed 36.41 points, or 1.05 percent, to 3,494.63 while Hong Kong's Hang Seng index ended up 104 points, or 0.40 percent, at 26,283.40.

Australian markets fluctuated before closing on a flat note.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 1.24 points or 0.02 percent. The German DAX is losing 11.15 points or 0.07 percent, the U.K. FTSE 100 Index is declining 16.93 points or 0.24 percent.

The Swiss Market Index is adding 103.84 points or 0.85 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.11 percent.

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