Futures Suggest Wall Street To Open Significantly Lower

(RTTNews) - Initial cues from the U.S. Futures Index suggest that Wall Street might open lower on Tuesday, following the long Labor Day weekend.

This week's trading may be impacted by monthly jobs report, as well as manufacturing and service sector activities.

As of 8.20 am ET, the Dow futures were declining 328.00 points, the S&P 500 futures were down 62.00 points and the Nasdaq 100 futures were sliding 294.00 points.

The U.S. major averages ended Friday in negative territory. The Nasdaq slumped 249.61 points or 1.2 percent to 21,455.55, the S&P 500 slid 41.60 points or 0.6 percent to 6,460.26 and the Dow dipped 92.02 points or 0.2 percent to 45,544.88.

On the economic front, the PMI Manufacturing Final for August will be released at 9.45 am ET. The consensus is 53.3, while it was up 49.8 in the prior month.

The ISM Manufacturing Index for August is scheduled at 10.00 am ET. The consensus is 48.7, while it was up 48.0 in July.

The Construction Spending for July will be issued at 10.00 am ET. The consensus is up 0.1 percent.

Three-month, six-week and six-month Treasury bill auctions will be held at 11.30 am ET.

52-week Treasury bill auction will be held at 11.30 am ET.

Asian stocks ended on a mixed note on Tuesday. China's Shanghai Composite index dropped 0.45 percent to 3,858.13. Hong Kong's Hang Seng ended down 0.47 percent at 25,496.55.

Japanese markets rebounded. The Nikkei average rose 0.29 percent to 42,310.49. The broader Topix index settled 0.61 percent higher at 3,081.88.

Australian stocks declined. The benchmark S&P/ASX 200 slipped 0.30 percent to 8,900.60. The broader All Ordinaries index closed down 0.31 percent at 9,168.