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Futures Point To Lower Open For Wall Street

wallstreet aug15 01jul22 lt

The Labor Department's monthly jobs report might be in the spotlight this week. Reports on Factory orders, the U.S. trade deficit, and Service Sector activity also will get special attention.

JOLTS report and FOMC minute might get of importance on Wednesday. The increasing cases of COVID-19 continue to be a concern for investors.

Asian shares finished mostly higher. European shares are trading lower.

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

As of 7.15 am ET, the Dow futures were declining 146.00 points, the S&P 500 futures were sliding 19.75 points and the Nasdaq 100 futures were down 79.75 points.

The U.S. major averages finished higher on Friday. The Dow jumped 321.83 points or 1.1 percent to 31,097.26, the Nasdaq advanced 99.11 points or 0.9 percent to 11,127.85 and the S&P 500 shot up 39.95 points or 1.1 percent to 3,825.33.

On the economic front, the Commerce Department's Factory Orders for May will be released at 10.00 am ET. The consensus is for growth of 0.5 percent, while it was up 0.3 percent in the prior month.

TD Ameritrade's Investor Movement Index for June is scheduled at 12.30 pm ET. In May the index was at 5.86.

Asian stocks advanced on Tuesday. Chinese shares ended on a flat note. The benchmark Shanghai Composite finished marginally lower at 3,404.03 while Hong Kong's Hang Seng index edged up 0.1 percent to 21,853.07.

Japanese shares rose sharply. The Nikkei average climbed 1.03 percent to 26,423.47 while the broader Topix index closed half a percent higher at 1,879.12.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 0.25 percent to 6,629.30 while the broader All Ordinaries index inched up 0.31 percent to 6,818.10.

European shares are trading lower. CAC 40 of France is down 62.81 points or 1.05 percent. DAX of Germany is declining 117.89 points or 0.92 percent. FTSE 100 of England is sliding 64.82 points or 0.90 percent. Swiss Market Index is losing 71.32 points or 0.65 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.71 percent.

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