Initial trends from the U.S. Futures Index suggest that Wall Street might open lower on Tuesday. Investors are worried about the rising oil prices and inflation.
Geopolitical situation remains turbulent with doubts over the U.S.-Iran ceasefire. There are reports that the Trump administration may consider military action against Iran.
Oil prices extended rally on Tuesday. Brent crude futures for July delivery were up more than 3 percent at $107.47 a barrel. Brent crude futures climbed above $106 a barrel.
Gold dipped toward $4,700 an ounce on Tuesday, while the U.S. dollar index climbed above 98.00. Spot gold fell 0.7 percent to $4,702.72 an ounce.
As of 7.50 am ET, the Dow futures were losing 10.00 points, the S&P 500 futures were losing 26.75 points and the Nasdaq 100 futures were sliding 245.75 points.
The U.S. major averages finished higher on Monday. The Dow rose 95.31 points or 0.2 percent to 49,704.47, the Nasdaq inched up 27.05 points or 0.1 percent to 26,274.13 and the S&P 500 edged up 13.91 points or 0.2 percent to 7,412.84.
On the economic front, the Consumer Price Index or CPI for April will be released at 8.30 am ET. The consensus is for an increase of 0.6 percent, while it was up 0.9 percent in the prior month.
52-week Treasury bill auction will be held at 11.30 am ET.
Chicago Fed President Austan Goolsbee will participate in moderated question-and-answer session before the Greater Rockford Chamber of Commerce at 1.00 pm ET.
Ten-year Treasury Note auction will be held at 1.00 pm ET.
Asian stocks ended mostly lower on Tuesday. China's Shanghai Composite index slid 0.25 percent to 4,214.49. Hong Kong's Hang Seng index ended 0.22 percent lower at 26,347.91.
Japanese markets ended higher. The Nikkei average climbed 0.52 percent to 62,742.57. The broader Topix index settled 0.83 percent higher at 3,872.90.
Australian markets fell for a third consecutive session. The benchmark S&P/ASX 200 dipped 0.36 percent to 8,670.70 while the broader All Ordinaries index ended down 0.37 percent at 8,909.60.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.