Wall Street Might See Red At Open

(RTTNews) - Initial cues from the U.S. Futures Index suggest that Wall Street might open significantly lower on Tuesday. Nvidia has scheduled its quarterly earnings on Wednesday. Delayed Jobs report for September is expected on Thursday.

In an interview on BBC News, Alphabet CEO Sundar Pichai has warned that no company is immune if an artificial intelligence or AI bubble bursts. In an exclusive interview Pichai talked about and irrationality in AI boom and on an extraordinary moment in AI investment.

In the Asian trading session, the dollar strengthened, while oil prices fell. Gold extended losses and was down about 1 percent.

As of 7.45 am ET, the Dow futures were down 331.00 points, the S&P 500 futures were declining 36.00 points and the Nasdaq 100 futures were sliding 156.00 points.

The U.S. major averages finished firmly negative on Monday. The Dow tumbled 557.24 points or 1.2 percent to 46,590.24, the Nasdaq slid 192.51 points or 0.8 percent to 22,708.07 and the S&P 500 slumped 61.70 points or 0.9 percent to 6,672.41.

On the economic front, the Import and Export Prices for October will be released at 8.30 am ET. The consensus is for a decline of 0.1 percent.

The Industrial Production for October will be issued at 9.15 am ET. The consensus for Industrial Production is down 0.1 percent. Capacity Utilization rate is expected to be 77.1 percent.

The Housing Market Index for November will be revealed at 10.00 am ET. The consensus is for an increase of 37.0, while it was up 37.0 in the prior month.

The Factory Orders for August will be published at 10.00 am ET. The consensus is for growth of 1.4 percent.

The E-Commerce Retail Sales for the third quarter is scheduled at 10.00 am ET. In the prior quarter, the retail sales were up 1.4 percent.

Asian stocks tumbled on Tuesday. Chinese and Hong Kong markets fell as diplomatic tensions between China and Japan deepened. China's Shanghai Composite index dropped 0.81 percent to 3,939.81.

Hong Kong's Hang Seng index plunged 1.72 percent to 25,930.03.

Japanese markets plummeted. The Nikkei average declined 3.22 percent to 48,702.98. The broader Topix index settled 2.88 percent lower at 3,251.10.

Australian markets finished lower. The benchmark S&P/ASX 200 dipped 1.94 percent to 8,469.10. The broader All Ordinaries index fell 1.99 percent to 8,738.30.