Abstract: It is well known that the Hilbert schemes of points on smooth surfaces are smooth. In higher dimensions the Hilbert schemes of points are in general singular. In this talk we will present some examples and conjectures on the local structures of the Hilbert scheme of points on $\mathbb{P}^3$. As an application we study a conjecture of Wang-Zhou on the Euler characteristics of the tautological sheaves on Hilbert schemes of points.