Wall Street Poised To Open Significantly Down

(RTTNews) - Initial signs from the U.S. Futures Index suggest that Wall Street might open lower. Investors are closely watching the geopolitical developments and the ongoing government shutdown in the U.S. The Supreme Court will decide on Presidential powers on imposing trade tariffs on Wednesday.

Asian shares finished lower, while European shares are trading in negative territory.

As of 7.20 am ET, the Dow futures were declining 299.00 points, the S&P 500 futures were sliding 66.00 points and the Nasdaq 100 futures were down 329.00 points.

The U.S. major averages finished mostly up on Monday. The Dow fell by 226.19 points or 0.5 percent to 47,336.68, but the S&P 500 rose 11.77 points or 0.2 percent to 6,851.97 and the Nasdaq climbed 109.77 points or 0.5 percent to 23,834.72.

On the economic front, the International Trade in Goods and Services for September will be issued at 8.30 am ET. The consensus is for a deficit of $64.1 billion.

The Factory Orders for September will be released at 10.00 am ET. The consensus is for an increase of 0.2 percent.

The Labor Department's Job Openings and Labor Turnover Survey or JOLTS for September is scheduled at 10.00 am ET. The consensus is for an increase of 7.30 million, while it was up 7.22 million in August.

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

Asian stocks ended mostly lower on Tuesday. China's Shanghai Composite index dropped 0.41 percent to 3,960.19. Hong Kong's Hang Seng index fell 0.79 percent to 25,952.40.

Japanese markets tumbled. The Nikkei average fell 1.74 percent to 51,497.20 as traders returned to their desks after a long holiday weekend. The broader Topix index closed 0.65 percent lower at 3,310.14.

Australian markets ended sharply lower. The benchmark S&P/ASX 200 dipped 0.91 percent to 8,813.70 while the broader All Ordinaries index ended down 0.92 percent at 9,098.20.