Wall Street Sees Red At Open

(RTTNews) - The The Job Openings and Labor Turnover Survey and Construction Spending for July might get special attention on Tuesday. Supply concerns due to hostilities between the U.S. and Iran are continuing.

Oil prices were sharply higher in the Asian trading session. Gold prices tumbled, while spot gold slumped 1.8 percent to $4,367.44 an ounce. The U.S. gold futures were down 1.4 percent at $4,419.84.

As of 7.55 am ET, the Dow futures were down 331.00 points, the S&P 500 futures were declining 47.50 points and the Nasdaq 100 futures were falling 342.50 points.

The U.S. major averages finished lower on Monday. The Dow slid 374.09 points or 0.7 percent to 53,185.90, while the S&P 500 fell 25.62 points or 0.3 percent to 7,686.14. The tech-heavy Nasdaq posted a more modest loss, edging down 31.53 points or 0.1 percent to 26,370.89.

On the economic front, the PMI Manufacturing Final for August will be released at 9.45 am ET. The consensus is 53.2, while the flash was 53.2 in the prior month.

The ISM Manufacturing Index for August is scheduled at 10.00 am ET. The consensus is 55.2, while it was up 55.6 in the prior month.

The Commerce Department's Construction Spending for July is issued at 10.00 am ET. The consensus is 0.1 percent, while it was down 0.1 percent in the prior month.

The Job Openings and Labor Turnover Survey or JOLTS for July is expected at 10.00 am ET. the consensus is 7.358 million, while it was up 7.359 million in the prior month.

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

Former Fed Vice Chair Michael Barr will speak on 'The Economic Outlook and Financial Inclusion' before the Second Chance Lending Forum, hosted by Prosperity Now and the Collateral Consequences Resource Center at 9.05 am ET.

Asian stocks retreated on Tuesday. China's Shanghai Composite index slipped 0.16 percent to 3,979.89. Hong Kong's Hang Seng index fell 0.93 percent to 25,329.73.

Japanese markets ended slightly lower. The Nikkei average slipped 0.15 percent to 66,215.34 while the broader Topix index closed 0.62 percent higher at 4,181.86.

Australian markets ended marginally lower. The benchmark S&P/ASX 200 slipped 0.10 percent to 9,066.70 while the broader All Ordinaries index settled 0.11 percent lower at 9,260.90.