Wall Street Braces For Cautious Open

(RTTNews) - Investor sentiments on Tuesday will be directly responding to the Middle East conflict and early trends on the U.S. Futures suggest that Wall Street might open moderately lower.

Oil crisis is deepening, as US-Israeli conflict on Iran escalates, sending shockwaves through global energy markets. Israeli military continue to pound Iran with air strikes, while Tehran has declared that it is prepared for a long war.

Asian shares finished positive, while European shares are trading higher.

As of 7.35 am ET, the Dow futures were losing 59.00 points, the S&P 500 futures were down 10.00 points and the Nasdaq 100 futures were sliding 17.00 points.

The U.S. major averages closed higher on Monday. The Nasdaq jumped 308.27 points or 1.4 percent to 22,695.95, the S&P 500 advanced 55.96 points or 0.8 percent to 6,795.99 and the Dow climbed 239.25 points or 0.5 percent to 47,740.80.

On the economic front, the Existing Home Sales for November will be released at 10.00 am ET. The consensus is 3.88 million, while it was up 3.91 million last month.

Three-year Treasury Note Acution will be held at 1.00 pm ET. Eight week and 4-week Treasury Bill acution will be held 11.00 am ET.

Treasury Buyback Results are scheduled at 2.00 pm ET.

The major averages surged in the final hour of trading, closing not far off their highs. The Nasdaq jumped 308.27 points or 1.4 percent to 22,695.95, the S&P 500 advanced 55.96 points or 0.8 percent to 6,795.99 and the Dow climbed 239.25 points or 0.5 percent to 47,740.80.

Asian stocks rallied on Tuesday. China's Shanghai Composite index rose 0.65 percent to 4,123.14. Hong Kong's Hang Seng index climbed 2.17 percent to 25,959.90.

Japanese markets ended sharply higher. The Nikkei average soared 2.88 percent to 54,248.39, with semiconductor-related stocks doing well.

Australian markets advanced. The benchmark S&P/ASX 200 ended up 1.09 percent at 8,692.60, giving up some early gains. The broader All Ordinaries index added 1.14 percent to close at 8,924.20.