With scarce economic announcements, the focus is likely to be on new residential construction data on Tuesday.
Initial indicators from the U.S. Futures Index hint at a potentially sluggish start on Wall Street. This follows a trend demonstrated by Asian shares, most of which closed lower, and currently seen in European shares as well.
As of 7:50 am ET, the Dow futures had declined by 71.00 points, the S&P 500 futures had diminished by 21.75 points, and the Nasdaq 100 futures were down by 111.00 points.
Despite this, major U.S. indexes had ended positively on Monday. The Nasdaq progressed by 130.27 points or 0.8 percent to close at 16,103.45, the S&P 500 ascended 32.33 points or 0.6 percent to 5,149.42, and the Dow added 75.66 points or 0.2 percent to sit at 38,790.43.
In relation to economic data, the February housing starts and permits report will be released at 8:30 am ET. Consensus indicates an anticipated figure of 1.449 million, up from 1.331 million recorded in January.
The 20-year Treasury Bond auction and the 52-week Treasury bill auction are slated for 1:00 pm ET and 11:30 am ET, respectively. Moreover, the Treasury International Capital report for January is set for release at 4:00 pm ET. The prior month saw an increase in net long-term securities transactions to $160.2 billion.
In Asia, markets predominantly closed in negative territory on Tuesday with significant declines noted in China. The Shanghai Composite index fell by 0.72 percent to 3,062.76, while the Hang Seng index in Hong Kong decreased by 1.24 percent to 16,529.48.
In contrast, Japanese markets recovered early losses to close notably higher. The Nikkei average surged by 0.66 percent to 40,003.60, and the broader Topix index settled 1.06 percent higher at 2,750.97. Australian markets also reported slight increases.
European shares, meanwhile, are mostly trading lower. France's CAC 40 is ahead by 139.92 points or 0.41 percent, while Germany's DAX and England's FTSE 100 are slipping, losing 3.97 points (0.02 percent) and 13.29 points (0.17 percent) respectively. Switzerland's Market Index is also down by 80.08 points or 0.69 percent.
Furthermore, the Euro Stoxx 50, representing blue-chip supersector leaders in the Eurozone, is up marginally by 0.023 percent.
