BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The fourth quarter GDP report, Personal Income and Outlays report, as well as International Trade Report are expected to delay as a result of the partial government shutdown.
Initial trends on U.S. Future Index point to a moderately higher opening for Wall Street. The Federal Open Market Committee or FOMC meeting is going on. The meeting will be evaluating outlook for economic growth and pending inflation.
Asian shares finished mostly lower, while European shares are trading positive.
As of 7.55 am ET, the Dow futures were gaining 52.00 points, the S&P 500 futures were adding 2.50 points and the Nasdaq 100 futures were climbing 9.25 points.
The major U.S. averages ended significant lower on Monday. The Dow tumbled 208.98 points or 0.8 percent to 24,528.22, the Nasdaq plunged 79.18 points or 1.1 percent to 7,085.68 and the S&P 500 slumped 20.91 points or 0.8 percent to 2,643.85.
On the economic front, International Trade in Goods for December will be published at 8.30 am ET. The consensus is for $75.7 billion.
Retail Inventories report will be issued at 8.30 am ET.
Redbook report, a weekly measure of comparable store sales at chain stores, discounters, and department stores, for the week will be released at 8.55 am ET. In the prior week, Store Sales were up 7.0 percent.
S&P Corelogic Case-Shiller HPI is expected at 9.00 am ET. The consensus is for 0.4 percent, unchanged from the prior week.
Consumer Confidence for January will be issued at 10.00 am ET. The consensus for 124.3, down from 1128.1 in the prior month.
Two-year Note auction will be held at 11.30 am ET. Seven-year Note Auction is scheduled at 1.00 pm ET.
In the corporate sector, Drug giant Pfizer Inc. reported a loss for the fourth quarter. Looking ahead, the company forecast earnings and revenue for fiscal 2019 below expectations. Pfizer's fourth-quarter net loss was $394 million or $0.07 per share, compared to net income of $12.27 billion or $2.02 per share in the year-ago period. Adjusted earnings for the quarter were $0.64 per share, compared to $0.62 per share last year.
Revenue for the quarter rose 2 percent to $13.98 billion from $13.70 billion in the same period last year. Analysts had a consensus revenue estimate of $13.91 billion.
Corning Inc. reported that its net income attributable to the company for fourth-quarter was $292 million or $0.32 per share, compared to a loss of $1.41 billion or $1.66 per share last year. Fourth-quarter core sales of $3.1 billion, up 15 percent year over year, and core earnings per share of $0.59, up 28 percent year over year. Net sales grew to $3.04 billion from $2.64 billion last year.
Asian stocks ended mostly lower on Tuesday. Chinese shares ended well off their day's lows. The benchmark Shanghai Composite Index edged down 0.1 percent to 2,594.25, while Hong Kong's Hang Seng Index slipped 0.2 percent to close at 27,531.68.
Japanese shares ended little changed. The Nikkei 225 Index fluctuated before ending higher by 15.64 points or 0.1 percent at 20,664.64, led by defensive shares. The broader Topix closed 0.1 percent higher at 1,557.09.
Australian markets declined as growth worries pulled down financials and energy firms. The benchmark S&P/ASX 200 Index dropped 31.40 points or 0.5 percent to 5,874.20. The broader All Ordinaries Index ended down 31.60 points or 0.5 percent at 5,939.50.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 40.34 points or 0.82 percent, the German DAX is gaining 11.63 points or 0.10 percent, the U.K. FTSE 100 Index is progressing 83.10 points or 1.23 percent. The Swiss Market Index is adding 82.89 points or 0.93 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.51 percent.
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