Wall Street Might Open In Negative Territory

Rising gas and oil prices are a concern for the European Union countries as winter is fast approaching. The countries in support of Ukraine are reducing their gas imports from Russia. Meanwhile, International Atomic Energy Agency Director General and the team will visit the nuclear plant in Ukraine in consideration that the plant is in a risky state as Russia continues attacks in the area.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

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

As of 7.30 am ET, the Dow futures were down 289.00 points, the S&P 500 futures were declining 41.75 points and the Nasdaq 100 futures were down 160.75 points.

The U.S. major averages were at the worst levels at the close on Friday. The Dow plunged 1,008.38 points or 3 percent to 32,283.40, the Nasdaq dove 497.56 points or 3.9 percent to 12,141.71 and the S&P 500 plummeted 141.46 points or 3.4 percent to 4,057.66.

On the economic front, Dallas Fed Manufacturing Survey for August will be released at 10.30 am ET. The consensus is for a decline of 13.2, while it was down 22.6 in the prior month.

The six-month Treasury Bill auction will be held at 11.30 am ET.

Lael Brainard, vice chair of the Federal Reserve will make a public speech at 2.15 pm ET.

Asian stocks tumbled on Monday. Chinese shares reversed early losses to end 0.14 percent higher at 3,240.73.

Hong Kong’s Hang Seng index shed 0.73 percent to close at 20,023.22.

Japanese shares finished lower. The Nikkei average fell 2.66 percent to 27,878.96. The broader Topix index ended 1.79 percent lower at 1,944.10.

Australian markets fell at the closing. The benchmark S&P/ASX 200 fell 1.95 percent to 6,965.50 while the broader All Ordinaries index closed 2.07 percent lower at 7,193.40.

European shares are trading lower. CAC 40 of France is down 119.16 points or 1.90 percent. DAX of Germany is declining 16.95 points or 185.41 percent or 1.42 percent. FTSE 100 of England is sliding 52.43 points or 0.70 percent. Swiss Market Index is falling 60.42 points or 0.55 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.78 percent.

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