Wall Street Poised To Open In Negative Territory

(RTTNews) - Initial cues from the U.S. Futures Index suggest that Wall Street might open in negative territory on Monday.

Housing data, along with remarks by central bank officials at the Jackson Hole Economic Symposium might get attention this week.

The U.S.-Russia summit has not added much enthusiasm to investors, however they are looking forward to the meeting of the leaders of the U.K., France and Germany, along with Ukraine's President for crunch talks with Trump at the White House.

As of 8.15 am ET, the Dow futures were down 14.00 points, the S&P 500 futures were declining 7.50 points and the Nasdaq 100 futures were tumbling 39.25 points.

The U.S. major averages finished broadly down. The Dow inched up 34.86 points or 0.1 percent to 44,946.12, the S&P 500 fell 18.74 points or 0.3 percent to 6,449.80 and the Nasdaq slid 87.69 points or 0.4 percent to 21,622.98.

On the economic front, the Housing Market Index for August will be issued at 10.00 am ET. The consensus is for an increase of 33, while it was up 33 in the prior month.

The six-month Treasury Bills auction will be held at 11.30 am ET. Three-month treasury bill auction will be held at 11.30 am ET.

Asian stocks rose broadly on Monday. China's Shanghai Composite index gained 0.85 percent to 3,728.03. Hong Kong's Hang Seng index ended down 0.37 percent at 25,176.85.

Japanese markets hit a new record high. The Nikkei average climbed 0.77 percent to 43,714.31. The broader Topix index settled 0.43 percent higher at 3,120.96.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 ended up 0.23 percent at 8,959.30. The broader All Ordinaries index closed up 0.23 percent at 9,233.50.

In the Asian trading hours, gold prices climbed as the dollar dithered on dovish Fed expectations. Oil prices were little changed.