Wall Street Might Edge Up At Open

(RTTNews) - Initial cues from the U.S. Futures Index suggest that Wall Street might open marginally up on Tuesday. Geopolitical tensions and rate-cut expectations might be influencing investor sentiments.

In the Asian trading session, gold dipped slightly after hitting a new record high at $3,977.45 per ounce. Oil also traded lower. As of 8.20 am ET, the Dow futures were gaining 25.00 points, the S&P 500 futures were up 1.25 points and the Nasdaq 100 futures were adding 23.50 points.

The Nasdaq climbed 161.81 points or 0.7 percent to 22,941.67 and the S&P 500 rose 24.49 points or 0.4 percent to 6,740.28, although the narrower Dow bucked the uptrend and edged down 63.31 points or 0.1 percent to 46,694.97.

On the economic front, the International Trade in Goods and Services for August will be issued at 8.30 am ET. The consensus is for a deficit of $61 billion. In the prior month, the deficit was $73.8 billion, while the deficit in the prior month was $73.8 billion.

Three-year Treasury Note auction will be held at 1.00 pm ET.

The Consumer Credit for August will be held at 3.00 pm ET. The consensus is for an increase of $13.5 billion, while it was up $16 billion in the prior month.

Atlanta Fed President Raphael Bostic will participate in discussion on the economic outlook at event hosted by Fisk University at 10.00 am ET.

Fed Vice Chair for Supervision Michelle Bowman will give welcome remarks before the 2025 Community Banking Research Conference at the Federal Reserve Bank of St. Louis at 10.05 am ET.

Fed Governor Stephen Miran will participate in conversation before the Managed Funds Association Policy Outlook 2025 at 10.45 am ET.

Minneapolis Fed President Neel Kashkari will participate in conversation on artificial intelligence and the economy before the Star Tribune North Star Summit 2025 at 11.30 am ET.

Fed Governor Stephen Miran will participate in conversation before the Deutsche Bank 2025 Fall Macro Conference.

Asian stocks ended mixed on Tuesday. China, Hong Kong and South Korea remained closed for holidays.

Japanese markets ended on a flat note. The Nikkei average finished 47,950.88. The broader Topix index also ended on a flat note at 3,227.91.

Australian markets ended lower. The benchmark S&P/ASX 200 slipped 0.27 percent to 8,956.80 while the broader All Ordinaries index closed 0.28 percent lower at 9,253.60.