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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | The major U.S. index futures are pointing to a roughly flat opening on Tuesday, with stocks likely to show a lack of direction following the sell-off seen in the previous session.
Stocks look headed for a somewhat flat start on Tuesday, amid mixed cues from Asian and European markets. The mood is likely to be cautious early on in the session, after Monday's severe setback that saw Dow plunging 1.3 percent to record its biggest single-session loss in nearly a month.
After ending last Friday's trading mostly higher, stocks showed a substantial move to the downside during trading on Monday. With the drop on the day, the Dow closed lower for the ninth time in ten sessions.
The major averages climbed off their worst levels of the day going into the close but remained firmly negative. The Dow tumbled 328.09 points or 1.3 percent to 24,252.80, the Nasdaq plunged 160.81 points or 2.1 percent to 7,532.01 and the S&P 500 slumped 37.81 points or 1.4 percent to 2,717.07.
Continued concerns about a global trade war contributed to the weakness on Wall Street after a report from the Wall Street Journal said President Donald Trump plans to ban many Chinese companies from investing in U.S. technology firms and block additional technology exports to Beijing.
Trump also continued his harsh rhetoric on trade in a post on Twitter on Sunday, urging countries to remove "artificial" trade barriers and tariffs on U.S. goods.
"The United States is insisting that all countries that have placed artificial Trade Barriers and Tariffs on goods going into their country, remove those Barriers & Tariffs or be met with more than Reciprocity by the U.S.A. Trade must be fair and no longer a one way street!" Trump tweeted.
Meanwhile, traders largely shrugged off a report from the Commerce Department showing a bigger than expected rebound in new home sales in the month of May.
The Commerce Department said new home sales spiked by 6.7 percent to an annual rate of 689,000 in May after plunging by 3.7 percent to a revised rate of 646,000 in April. Economists had expected new home sales to climb by 1.5 percent.
Steel stocks turned in some of the market's worst performances on the day amid the concerns about the trade dispute between the U.S. and China.
Reflecting the weakness in the steel sector, the NYSE Arca Steel Index plunged by 3.4 percent to its lowest closing level in well over two months.
Semiconductor, energy, and biotechnology stocks also saw considerable weakness, moving lower along with most of the other major sectors.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
At 10 am ET, the Conference Board is scheduled to release its report on consumer confidence in the month of June. The consumer confidence index is expected to inch up to 128.1 in June from 128.0 in May,
The Treasury Department is due to announce the results of its auction of $34 billion worth of two-year notes at 1 pm ET. |
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| | Europe |
European stocks rose modestly on Tuesday as bargain hunters lapped up battered shares amid conflicting signals from the Trump administration over proposed restrictions on foreign investment in U.S. technology companies.
The pan-European Stoxx Europe 600 index was up 0.4 percent at 378.52 in late opening deals after having lost as much as 2 percent in the previous session.
The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were up between half a percent and 0.6 percent.
Eutelsat shares jumped more than 2 percent in Paris after the satellite group ruled out a bid for British firm Inmarsat. The latter's share price slumped 5.6 percent.
French payments processor Ingenico soared almost 7 percent on a Bloomberg report that several private equity firms are setting their sights on the company.
Eurofins, a global leader in bio-analysis, rallied 6 percent after raising its revenue guidance for the year.
Sainsburys dropped 1.7 percent in London and Tesco fell 1.2 percent after research firm Kantar Worldpanel published grocery market share data for the 12 weeks to June 17.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks ended mixed on Tuesday amid conflicting signals from the Trump administration over proposed restrictions on foreign investment in U.S. technology companies.
U.S. Treasury Secretary Steven Mnuchin said on Twitter Monday that reports on investment restrictions by The Wall Street Journal and Bloomberg news are "false, fake news".
But Mnuchin said in a statement that a forthcoming announcement would not be aimed solely at China but will apply to all countries that are trying to steal American technology.
Further confusing matters, White House economic advisor Peter Navarro told CNBC that the Trump administration currently doesn't have any specific countries targeted.
China's Shanghai Composite index fell 14.83 points or 0.52 percent to 2,844.51 ahead of manufacturing and non-manufacturing data due on Saturday. Hong Kong's Hang Seng index eased 0.28 percent to close at 28,881.
Japanese shares finished marginally higher after hitting 3-1/2-week lows earlier in the day on concerns over a deepening trade row between the United States and major economies. The Nikkei average ended little changed at 22,342 while the broader Topix index closed 0.16 percent higher at 1,731.07.
Department store operator Takashimaya advanced 1.8 percent after it reported a 5.7 percent rise in Q1 operating profit. Large-cap stocks succumbed to selling pressure, with Fast Retailing and SoftBank ending down 2.8 percent and 2.5 percent, respectively. Discount clothing chain Shimamura plunged 15.7 percent on disappointing first-quarter results.
Australian markets fell modestly as weaker commodity prices pulled down material stocks, offsetting gains in the banking sector.
The benchmark S&P/ASX 200 index dropped 12.80 points or 0.21 percent to 6,197.60 while the broader All Ordinaries index ended down 16.60 points or 0.26 percent at 6,292.10.
Mining giant BHP Billiton fell over 1 percent after it signed a deal with Brazilian authorities to settle lawsuits over a 2015 dam disaster. Rival Rio Tinto, Fortescue Metals Group, South32 and BlueScope Steel lost 1-3 percent.
Healthcare stocks also retreated, with CSL and Cochlear declining 0.7 percent and 1.3 percent, respectively.
Woodside Petroleum dropped 1 percent and Santos shed 0.8 percent after oil prices fell overnight.
Banks ANZ, Commonwealth and NAB closed up between 0.4 percent and 0.9 percent after falling heavily in the previous session.
In economic news, Australia's consumer confidence weakened for the second straight time during the week ended June 24, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed. The consumer confidence index dropped to 121.4 from 122.1 in the preceding week.
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| | Commodities |
Crude oil futures are rising $0.22 to $68.30 a barrel after falling $0.50 to $68.08 a barrel on Monday. Meanwhile, after dipping $1.80 to $1,268.90 an ounce in the previous session, gold futures are sliding $10.60 to $1,258.30 an ounce.
On the currency front, the U.S. dollar is trading at 109.74 yen compared to the 109.77 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.1666 compared to yesterday?s $1.1704.
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