Wall Street shares set for lower start as traders shun risk

Traders are not buying in to risk as they await some big reports and meetings later this week.

Pictured the skyscrapers of New York
The Big Apple - stocks on Wall Street are seen opening lower

Wall Street shares are set to start lower on Wednesday.

It comes after stocks fell on Tuesday on weaker-than-expected economic data and as oil reversed direction.

Traders are not buying in to risk as they await some big reports and meetings later this week. European indices are also down today. The Footsie is down over 35 points, at 6,195.

OPEC meets tomorrow, as does the European Central Bank. The closely watched US non-farms jobs report will be out on Friday, which should add to clues on future actions of the Fed.

Today, there is data on monthly car sales and manufacturing and construction spending.

In corporate news Michael Kors Holdings (NYSE: KORS) is due to post earnings before the bell.

Yesterday, the S&P Midcap 400 ended the session up 0.07% at 1,493 - and its best levels since August 19, while the S&P Smallcap 600 closed the month up 0.33% at 705 - its highest level since the end of April.

But the S&P500 closed down two at 2,096; The Dow Jones closed 86 lower at 17,787 and the tech heavy Nasdaq added around 14 at 4,948.

In futures today, the Dow Jones is down 52 points; the Nasdaq lost over ten and the S&P500 futures are trading six points lower.

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