Home Prices, Chicago PMI for October, and Consumer Confidence might be of interest to investors on Tuesday. Earnings results also will get attention today.<\/p>\n
Oil prices are recovering, while Gold futures eased. <\/p>\n
Early trends on the U.S. Futures Index suggest that Wall Street might open higher. Asian shares finished mostly down, while European shares are trading higher. <\/p>\n
As of 8.00 am ET, the Dow futures were up 50.00 points, the S&P 500 futures were adding 10.00 points and the Nasdaq 100 futures were progressing 15.00 points.<\/p>\n
The U.S. major averages pulled back off their highs going into the close but held on to strong gains. The Dow spiked 511.37 points or 1.6 percent to 32,928.96, the Nasdaq jumped 146.47 points or 1.2 percent to 12,789.48 and the S&P 500 surged 49.45 points or 1.2 percent to 4,166.82.<\/p>\n
The rebound on Wall Street partly reflected bargain hunting, with traders picking up stocks at reduced levels following last week’s sell-off.<\/p>\n
The Dow slumped to its lowest closing level in seven months last Friday, while the S&P 500 slid to a new five-month closing low.<\/p>\n
On the economic front, the Federal Open Market Committee or FOMC meeting has started. <\/p>\n
The Employment Cost Index for the third quarter will be published at 8.30 am ET. The consensus is for an increase of 1.0 percent, while it was up 1.0 percent in the prior quarter. <\/p>\n
The Case-Shiller Home Price Index for August is scheduled at 9.00 am ET. The consensus is for growth of 0.7 percent, while it was up 0.9 percent in the previous month. <\/p>\n
The Federal Housing Finance Agency or FHFA House Price Index for August will be issued at 9.00 am ET. In the prior month, the Index was up 0.8 percent.<\/p>\n
Chicago PMI for October will be released at 9.45 am ET. The consensus is 45.0, while it was up 44.1 in August. <\/p>\n
The Consumer Confidence for October will be published at 10.00 am ET. The consensus is 100.0, while it was up 103.0 in September.<\/p>\n
The Agriculture Department’s Farm Prices for September is expected at 3.00 pm ET. In the prior month, the prices were up 0.3 percent.<\/p>\n
Asian stocks ended Tuesday’s session on a mixed note. China’s Shanghai Composite index finished marginally lower at 3,018.77. Hong Kong’s Hang Seng index fell 1.69 percent to 17,112.48.<\/p>\n
Japanese shares ended higher. The Nikkei average rose 0.53 percent to 30,858.85. The broader Topix index settled 1.01 percent higher at 2,253.72.<\/p>\n