Wall Street Might Open With Negative Bias

Continuing the invasion of Russia in Ukraine over the last six months is a concern for investors. Ukraine President has warned about something ‘Ugly’ move from Russia in view of the upcoming Independence Day.

Durable Goods Orders, New Home Sales, and Personal Income and Spending this week might get special attention this week.

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

Asian shares were mostly down, while European shares are deeply lower.

As of 7.35 am ET, the Dow futures were down 310.00 points, the S&P 500 futures were declining 49.50 points and the Nasdaq 100 futures were declining 208.25 points.

The U.S. major averages finished firmly negative on Friday. The Dow slid 292.30 points or 0.9 percent to 33,706.74, the Nasdaq plunged 260.12 points or 2 percent to 12,705.22 and the S&P 500 tumbled 55.26 points or 1.3 percent to 4,228.48.

On the economic front, the Federal Reserve Bank of Chicago’s National Activity Index for July will be issued at 8.30 am ET. The consensus is for a decline of 0.19, while it was down 0.19 in the prior month.

Six-month Treasury Bill auction will be held at 11.30 am ET.

Asian stocks ended mixed on Monday. China’s Shanghai Composite index gained 0.61 percent to 3,277.79. Hong Kong’s Hang Seng index was down 0.59 percent at 19,656.98.

Japanese shares ended lower. The Nikkei average shed 0.47 percent to close at 28,794.50, while the broader Topix index finished marginally lower at 1,992.59.

Australian markets fell. The benchmark S&P/ASX 200 dropped 0.95 percent to 7,046.90 while the broader All Ordinaries index ended 0.97 percent lower at 7,287.20.

European shares are trading lower. CAC 40 of France is down 74.34 points or 1.14 percent. DAX of Germany is falling 227.81 points or 1.67 percent. FTSE 100 of England is declining 7.07 points or 0.09 percent. Swiss Market Index is sliding 56.08 points or 0.51 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.34 percent.

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