Wall Street Poised To Open In Negative Territory

(RTTNews) - Renewed strikes in the Middle East by the U.S. and retaliation by Iran resulted in raising tensions over the status of the Strait of Hormuz and supply of energy vessels. These developments might influence investor sentiments on Monday.

Further straining a fragile ceasefire, the U.S. launched fresh strikes against Iran. Tehran responded by attacking Gulf Arab states, including Bahrain, Kuwait, Qatar, Jordan and Oman.

As slew of fed speeches are scheduled on Tuesday, including Fed Chair Kavin Warsh's testifieing before the House Financial Services Committee hearing.

In the Asian trading session, oil prices traded higher. Brent crude prices were up 2.2 percent at $77.70 a barrel.

Gold prices were sharply lower. Spot gold fell 1.2 percent to $4,073 an ounce. The U.S. gold futures were down 0.8 percent at $4,080.90.

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

As of 8.05 am ET, the Dow futures were down 33.00 points, the S&P 500 futures were declining 23.00 points and the Nasdaq 100 futures were sliding 297.00 points.

On the economic front, the U.S. Treasury Statement for June is expected at 2.00 pm ET.

Christopher Waller will speak on the economic outlook in conversation before the New York Association for Business Economics at 12.30 pm ET.

On Tuesday, the Consumer Price Index or CPI for June will be published at 8.30 am ET. The consensus is for a decline of 0.1 percent, while it was up 0.5 percent in the prior month.

Fed Chair Kavin Warsh will testify before the House Financial Services Committee hearing, 'The Federal Reserve' Semi-Annual Monetary Policy Report' at 10.00 am ET on Tuesday.

Christopher Waller will speak on the economic outlook in conversation before the New York Association for Business Economics at 11.30 am ET tomorrow.

Michael Barr will present before the Federal Reserve Board Annual Financial Inclusion Conference at 11.40 am ET and will participate in fireside chat on 'Artificial Intelligence and Financial Inclusion at 11.55 am ET tomorrow.'

Lisa Cook will moderate 'Consumers, Artificial Intelligence, and Financial Inclusion: Balancing Opportunities and Challenges' discussion before the Federal Reserve Board Annual Financial Inclusion Conference at 12.30 pm ET on Tuesday.

Chicago Fed President Austan Goolsbee will participate in moderated question-and-answer session before hybrid Kenosha Area Business Alliance Business Lunch event at 1.00 pm ET tomorrow.

Michelle Bowman will speak on 'Responsible Innovation and Financial Inclusion' before the Federal Reserve Board Annual Financial Inclusion Conference at 2.55 pm ET on Tuesday.

Asian markets fell on Monday. China's Shanghai Composite index fell 2.06 percent to 3,913.79. Hong Kong's Hang Seng index finished 0.16 percent higher at 24,213.72.

Japanese markets tumbled. The Nikkei average slumped 1.92 percent to 67,242.73. The broader Topix index settled 0.71 percent lower at 4,007.49.

Australian markets ended on a flat note. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index dropped 0.45 percent to 13,723.20.