Wall Street Might Open Lower

Trading on Tuesday may be impacted by reaction to the latest quarterly reports.
In the pre-market session, healthcare major Johnson and Johnson reported 26 percent decline in fourth-quarter earnings, while adjusted earnings beat estimates. Revenue missed estimates.

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

Asian shares finished modestly up, while European shares are trading down.

As of 7.15 am ET, the Dow futures were down 97.00 points, the S&P 500 futures were declining 10.75 points and the Nasdaq 100 futures were sliding 47.25 points.

The U.S. major averages remained firmly positive at the close on Monday. The Nasdaq soared 223.98 points or 2.0 percent to 11,364.41, the S&P 500 jumped 47.20 points or 1.2 percent to 4,019.81 and the Dow climbed 254.07 points or 0.8 percent to 33,62.56.

On the economic front, The Flash Composite Purchasing Manager's Index or PMI for January will be published at 9.45 am ET. The consensus for manufacturing index is 46.5 and the consensus for services Index is 45.5.

The Fed Money Supply for December will be issued at 1.00 pm ET. In the prior month, the M2 deficit was $63.2 billion.

The Two-year Treasury Note auction will be held at 1.00 pm ET.

The Richmond Fed Manufacturing Index for January will be released at 10.00 am ET. The consensus is for a decline of 3, while it was up 1 in December.

Asian stocks rose broadly on Tuesday. Shanghai and Hong Kong markets are closed today.

Japanese stocks rallied today. The Nikkei average jumped 1.46 percent to 27,299.19. The broader Topix index closed 1.42 percent higher at 1,972.92.

Australian markets rose modestly. The benchmark S&P/ASX 200 inched up 0.44 percent to 7,490.40 while the broader All Ordinaries index added 0.47 percent to close at 7,710.50.

European shares are trading lower. CAC 40 of France is down 1.16 points or 0.02 percent. DAX of Germany is declining 40.29 points or 0.27 percent. FTSE 100 of England is sliding 16.25 points or 0.21 percent. The Swiss Market Index is down 11.95 points or 0.11 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.18 percent.

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