WASHINGTON (dpa-AFX) - The major U.S. index futures are currently pointing
to a lower open on Tuesday, with stocks likely to give back ground after ending
the previous session mostly higher.

U.S. stocks closed higher on Monday, with technology shares turning in a fine
performance. The major averages all started off on a somewhat weak note in
lackluster trading but turned positive, with stocks gaining in strength
gradually as the session progressed.

The Dow ended higher by 50.66 points or 0.1 percent, at 39,169.52. The S&P 500
advanced 14.61 points or 0.3 percent to 5,475.09, while the Nasdaq climbed
146.70 points or 0.8 percent to 17,879.30.

Investors looked ahead to the release of the Labor Department's closely watched
monthly jobs report on Friday.

The report, which is expected to show a slowdown in the pace of job growth in
the month of June, could impact the outlook for interest rates.

On the U.S. economic front, the Institute for Supply Management released a
report showing manufacturing activity in the U.S. unexpectedly contracted at a
slightly faster rate in the month of June.

The ISM said its manufacturing PMI edged down to 48.5 in June from 48.7 in May,
with a reading below 50 indicating contraction. Economists had expected the
index to inch up to 49.1.

A separate report released by the Commerce Department unexpectedly showed a
slight decrease in U.S. construction spending in the month of May.

The Commerce Department said construction spending edged down by 0.1 percent to
an annual rate of $2.140 trillion in May after rising by 0.3 percent to a
revised rate of $2.142 billion in April.

Economists had expected construction spending to inch up by 0.1 percent compared
to the 0.1 percent dip originally reported for the previous month.

Microsoft Corporation shares gained about 2.2 percent. Apple Inc climbed nearly
3 percent. Amazon surged 2 percent. Nvidia and Alphabet posted modest gains.

Tesla Inc surged more than 6 percent, ahead of its second-quarter delivery
numbers expected on Tuesday.

JP Morgan Chase, Eli Lilly, Oracle Corporation, Merck, Wells Fargo, T-Mobile,
Verizon Communications, Morgan Stanley, IBM, Goldman Sachs, Nike and Boeing
gained 1 to 3 percent.

ADP, Analog Devices, Honeywell International, Blackstone, Uber Technologies,
Comcast Corporation, Caterpillar, Walt Disney, Home Depot, Procter & Gamble and
Advanced Micro Devices ended notably lower.

Commodity, Currency Markets

Crude oil futures are climbing $0.88 to $84.26 a barrel after surging $1.84 to
$83.38 a barrel on Monday. Meanwhile, after edging down $0.70 to $2,338.90 an
ounce in the previous session, gold futures are falling $7.50 to $2,331.40 an
ounce.

On the currency front, the U.S. dollar is trading at 161.48 yen compared to the
161.46 yen it fetched at the close of New York trading on Monday. Against the
euro, the dollar is valued at $1.0728 compared to yesterday's $1.0740.

Asia

Asian stocks ended mixed on Tuesday as investors pondered what the U.S. Supreme
Court's immunity decision meant for former president Donald Trump.

The dollar gained traction and yields hit a one-month high after the Supreme
Court ruled that presidents have absolute immunity from prosecution for core
official acts. President Joe Biden said the high court's ruling had undermined
the rule of law.

There's growing talk about a potential Trump presidency, leading to a steeper
yield curve as growth will likely slow and inflation quicken under such a
scenario, according to Morgan Stanley. Barclays and Nomura also issued calls to
factor in a Trump win.

The dollar's strength weighed on gold prices in Asian trading, while oil
maintained positive momentum to trade around two-month highs due to concerns
about conflict in the Middle East and expectations of strong U.S. demand.

Chinese and Hong Kong markets advanced after data showed the downturn in China's
residential real estate sector slowed further in June.

China's Shanghai Composite index finished marginally higher at 2,997.01 after a
choppy session. Hong Kong's Hang Seng Index rose 0.3 percent to 17,769.14 as
trading resumed after a holiday.

Japanese markets led regional gains, with exporters surging as the yen hit a new
37-year low versus the dollar.

The Nikkei 225 Index rallied 1.1 percent to 40,074.69, closing above the 40,000
threshold for the first time in three months. The broader Topix Index settled
1.2 percent higher at 2,856.62.

Nintendo added 1.4 percent after the gaming giant said the best way to stop
scalping of the Switch's successor is to make enough of them in the first place.

Seoul stocks fell notably as investors awaited Fed Chair Jerome Powell's
comments and the release of key U.S. economic data for more clarity on the Fed's
rate trajectory. The Kospi slid 0.8 percent to 2,780.86, snapping a two-session
winning streak.

Australian markets ended lower as the minutes of the Reserve Bank's June policy
meeting showed that the 'board judged the case for holding rates steady stronger
than for hiking.'

The benchmark S&P/ASX 200 Index dropped 0.4 percent to 7,718.20, with miners and
financials pacing the declines. The broader All Ordinaries Index fell 0.4
percent to 7,959.70.

Rising oil prices boosted energy stocks, with Woodside Energy rallying 3.1
percent. Liontown Resources soared 7.3 percent on the back of a $250 million
investment from LG Energy Solution.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 Index ended the session
down 0.1 percent at 11,776.73.

Europe

European stocks have drifted lower on Tuesday, tracking a rise in U.S. Treasury
yields after the U.S. Supreme Court ruled that former President Donald Trump is
entitled to immunity from federal prosecution for official actions he took while
in office.

The landmark decision at the height of an election season stoked speculation
about the possibility of another Trump presidency after last week's poor debate
performance by incumbent Joe Biden.

Meanwhile, headline inflation in the euro area dipped to 2.5 percent in June,
the European Union's statistics agency said, matching expectations.

The unemployment rate in the Eurozone stood at 6.4 percent in May, unchanged
from April's reading, Eurostat said in another report.

While the German DAX Index has slumped by 1.2 percent, the French CAC 40 Index
is down by 0.8 percent and the U.K.'s FTSE 100 Index is down by 0.4 percent.

Ryanair Holdings has moved to the downside in Dublin despite the budget airline
reporting record passenger numbers for June.

J Sainsbury has also fallen in London after the supermarket chain flagged that
adverse weather had weighed on recent volume growth.

Food services and facilities management firm Sodexo S.A. has plunged in Paris
after third quarter sales lagged expectations.

U.S. Economic News

Federal Reserve Chair Jerome Powell is due to participate in a policy panel
before the European Central Bank Forum on Central Banking 2024 at 9:30 am ET.

At 10 am ET, the Labor Department is scheduled to release its report on job
openings in the month of May. Job openings are expected to decrease to 7.91
million in May from 8.06 million in April.



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