June 27, 2022

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Futures Point To Lower Open For Wall Street

2 min read

Investors are observing the situation in Ukraine and Russia’s continuing strikes. The mass civilian casualties in Ukraine are widely condemned by world leaders. Ukrainian President Zelensky is expected to address the U.N. Security Council today.

The latest reports on the U.S. trade deficit and service sector activity might get special attention on Tuesday.

Asian shares finished broadly up, while European shares are trading lower. Early trends on the U.S. Futures Index suggest that Wall Street might open lower.

As of 8.10 am ET, the Dow futures were losing 65.00 points, the S&P 500 futures were down 7.75 points, and the Nasdaq 100 futures were sliding 28.25 points.

The U.S. major averages all closed in positive on Monday. The Nasdaq surged 271.05 points or 1.9 percent to 14,532.55, the S&P 500 advanced 36.78 points or 0.8 percent to 4,582.64 and the S&P 500 rose 103.61 points or 0.3 percent to 34,921.88.

On the economic front, the International Trade in Goods and Services for February will be issued at 8.30 am ET. The consensus is for a deficit of $88.8 billion, while the deficit was $89.7 billion in the prior month.

IHS Markit’s US Services Purchasing Managers’ Index or PMI will be released at 9.45 am ET. The consensus is for 58.5.

ISM Services Index for March will be published at 10.00 am ET. The consensus is for 58.5, while it was up 56.5 in February.

Minneapolis Federal Reserve Bank President Neel Kashkari will give opening remarks at 10.00 am ET.

Federal Reserve Gov. Lael Brainard to participate in a virtual video panel discussion on inflation before virtual Federal Reserve Bank of Minneapolis Conference: Spring 2022 11.05 am ET.

New York Federal Reserve Bank President John Williams to participate in Health and the Economy moderated discussion hosted by the New York Times at 2.00 pm ET.
Asian stock markets finished mostly higher on Tuesday. China, Hong Kong, and Taiwan markets were closed on the day for holidays. The Nikkei 225 closed 51.51 points or 0.19…

2022-04-05 08:47:13

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