Wall Street Aims To Bounce Back

Corporate earnings reports and major economic announcements such as the Commerce Department’s report on durable goods orders might get special attention on Tuesday.

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

Asian shares finished mostly down, while European shares are trading in a negative tone.

As of 7.30 am ET, the Dow futures were up 78.00 points, the S&P 500 futures were increasing by 10.75 points and the Nasdaq 100 futures were progressing 117.00 points.

The U.S. major averages finished Tuesday just off their lows of the session. The Dow slumped 344.57 points or 1.0 percent to 33,530.83, the Nasdaq plunged 238.05 points or 2.0 percent to 11,799.16 and the S&P 500 tumbled 65.41 points or 1.6 percent to 4,071.63.

On the economic front, the Durable Goods Orders for March will be released at 8.30 am ET. The consensus for new orders is up 0.9 percent, while it was down 1.0 percent in the previous month.

Census Bureau’s International Trade in Goods (Advance) for March will be published at 8.30 am ET. The consensus is for a deficit of $92 billion, while the deficit in the prior month was $92.0 billion.

Retail Inventories (Advance) for March is scheduled at 8.30 am ET. In the prior month, the inventories were up 0.8 percent. The consensus for Wholesale Inventories (Advance) is for growth of 0.2 percent and it was up 0.2 percent in the prior month.

The State Street Investor Confidence Index for April will be published at 10.00 am ET. In March, the Index was up 81.4.

The Energy Information Administration or EIA’s Petroleum Status Report for the week is scheduled at 10.30 am ET. In the prior week, the crude oil inventories were down 4.6 million barrels, and the gasoline inventories were up 1.3 million barrels.

The Survey of Business Uncertainty for April will be revealed at 11.00 am ET. In the prior month, the sales growth was up 4.35 percent.

Two-year Treasury Floating Rate Note or FRN auction will be held at 11.30 am ET. Five-year Treasury Note Auction will be held at 1.00 pm ET.

Asian stocks fell on Wednesday. Chinese shares fluctuated before ending little changed. The benchmark Shanghai Composite index finished marginally lower at 3,264.10.

Hong Kong’s Hang Seng index climbed 0.71 percent to 19,757.27.

Japanese shares ended notably lower. The Nikkei average slipped 0.71 percent to 28,416.47. The broader Topix index closed 0.89 percent lower at 2,023.90.
Australian markets ended flat with a negative bias.

European shares are trading lower. CAC 40 of France is down 80.98 points or 1.07 percent. DAX of Germany is declining 114.67 points or 0.73 percent. FTSE 100 of England is sliding 30.60 points or 0.39 percent. The Swiss Market Index is declining 133.67 points or 1.16 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.97 percent.

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