Futures Point To Lower Open For Wall Street

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Earnings as well as geo-political developments might be influencing investor sentiments on Tuesday.

The FOMC meeting has begun today. The U.S. Federal Reserve is due to announce its policy decision on Wednesday. It is widely expected that 25 basis-point lift will be there as inflation might be cooling.

Fed Chief Jerome Powell's announcements will be keenly followed by the investors.

Tech giants Apple, Amazon, and Google parent Alphabet will be publishing their quarterly results this week.

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

Asian shares finished mostly down, while European shares are declining.

As of 6.55 am ET, the Dow futures were down 137.00 points, the S&P 500 futures were declining 15.00 points and the Nasdaq 100 futures were sliding 61.00 points.

The U.S. major averages ended notably lower on Monday. The Dow ended down 260.99 points or 0.77 percent at 33,717.09, the S&P 500 settled lower by 52.79 points or 1.3 percent at 4,017.77, while the Nasdaq closed with a loss of 227.90 points or 1.96 percent at 11,393.81.

On the economic front, the Employment Cost Index for the fourth quarter 2022 will be issued at 8.30 am ET. The consensus is for an increase of 1.1 percent, while it was up 1.2 percent in the prior quarter.

The Case-Shiller Home Price Index for November will be released at 9.00 am ET. The 20-city adjusted consensus is for a decline of 0.5 percent, while it was down 0.5 percent in October.

The Federal Housing Finance Agency or FHFA House Price Index for November will be published at 9.00 am ET. In the prior month, the Index was at 0.0 percent.

The Institute For Supply Management - Chicago's PMI for January is scheduled at 9.45 am ET. The consensus is for 45.1, while it was up 44.9 in the prior month.

The Consumer Confidence for January will be revealed at 10.00 am ET. The consensus is 109.0, and in December it was up 108.3.

The Agriculture Department's Farm Prices for December are expected at 3.00 pm ET. In the prior month, the Farm Prices were up 4.5 percent.

Asian stocks fell on Tuesday. Chinese shares ended lower. China's Shanghai Composite index dropped 0.42 percent to 3,255.67 while Hong Kong's Hang Seng index ended 1.03 percent lower at 21,842.33.

Japanese stocks slipped into the red. The Nikkei average dipped 0.39 percent to close at 27,327.11 while the broader Topix index ended 0.36 percent lower at 1,975.27.

Australian markets ended slightly lower. The benchmark S&P/ASX 200 finished marginally lower at 7,476.70 while the broader All Ordinaries index dropped 0.19 percent to 7,686.10.

European shares are trading lower. CAC 40 of France is down 55.51 points or 0.78 percent. DAX of Germany is declining 87.51 points or 0.58 percent. FTSE 100 of England is sliding 64.07 points or 0.82 percent. The Swiss Market Index is down 123.84 points or 1.11 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.55 percent.

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