Wall Street Might Open Slightly Up, Housing Starts Data On Focus

On a quiet day of trading announcements, investors might focus on the Housing Starts data on Tuesday.

Early signs from the U.S. Futures Index suggest that Wall Street might open slightly up. Asian shares finished mostly down, while European shares are trading mostly up.

At the U.N., President Joe Biden will deliver his third speech at the General Assembly today at 10.00 am ET.

Biden will also meet with U.N. Secretary-General António Guterres at 11.30 AM ET and will host C5+1 Presidential Summit.

The President will have discussions with Brazilian President Luiz Inacio Lula da Silva and Israeli Prime Minister Netanyahu.

As of 7.44 am ET, the Dow futures were up 14.00 points, the S&P 500 futures were adding 2.75 points and the Nasdaq 100 futures were progressing 9.25 points.

The U.S. major averages eventually ended Monday’s session slightly higher. While the S&P 500 edged up 3.21 points or 0.1 percent to 4,453.53, the Dow inched up 6.06 points or less than a tenth of a percent to 34,624.30 and the Nasdaq crept up 1.90 points or less than a tenth of a percent to 13,710.24.

On the economic front, the Housing Starts and Permits for August will be published at 8.30 am ET. The Starts consensus is 1.435 million, while it was up 1.452 million in the previous month. The Permits consensus is 1.440 million, while it was up 1.442 million in July.

Twenty-year Treasury Bond Auction will be held at 1.00 pm ET.

Eight-week Treasury Bill auction will be held at 11.00 am ET.

Asian equities extended losses in Tuesday’s trade. China’s Shanghai Composite Index shed 0.03 percent to finish trading at 3,124.96. The Shenzhen Component Index lost 74 points or 0.73 percent to close at 10,125.73.

The Hang Seng Index of the Hong Kong Stock Exchange gained 67 points or 0.37 percent from the previous close to finish trading at 17,997.17.

The Japanese benchmark Nikkei 225 slipped 291 points or 0.87 percent to end trading at 33,242.59.

Australia’s S&P/ASX200 closed trading at 7,196.60, shedding 34 points or 0.47 percent. The index finished 4.90 percent below its 52-week high. The day’s trading range was between 7,187.5 and 7,230.4. Sentiment

European shares are trading mostly higher. CAC 40 of France is gaining 13.79 points or 0.19 percent. DAX of Germany is declining 26.06 points or 0.17 percent. FTSE 100 of England is progressing 4.72 points or 0.06 percent. The Swiss Market Index is declining 21.67 points or 0.20 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is 0.17 percent.

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