U.S. indices closed lower on Tuesday, pressured by shares in the Food, Beverage & Tobacco (-2.36%), Household & Personal Products (-1.7%) and Utilities (-1.61%) sectors. On the economic data front, the FHFA house price index increased 0.1% MoM in March (estimated +0.2%). Also, the Conference Board consumer confidence index rose to 134.1 in May (forecasted 130.0) from 129.2 a month earlier. In other news, the Dallas Federal Manufacturing Activity Outlook Index fell to -5.3 in May (expected 6.2) from 2.0 in April. The S&P 500 (2,802.39) stays below both its 20d moving average (2,871.27 – negative slope) and 50d moving average (2,873.53 – flat slope).
European markets are expected to start on a negative note.