Wall Street Might Open Broadly Up

Early trends on the U.S. Futures Index suggest that Wall Street might open broadly up on Wednesday.

Analysts might focus on earnings reports from the major corporates today.
Geopolitical situations and energy prices are also topics of much interest to investors these days.

Asian shares finished mixed, while European shares are trading mostly lower.

As of 7.40 am ET, the Dow futures were declining 17.00 points, the S&P 500 futures were adding 2.50 points and the Nasdaq 100 futures were progressing 22.75 points.

The U.S. major averages ended in negative territory on Tuesday. The Dow ended down 79.75 points or 0.24 percent at 32,653.20, more than 300 points off an early high of 32,975.48. The S&P 500, which climbed to 3911.79 in early trades, settled at 3,856.10, down 15.88 points or 0.41 percent, while the Nasdaq ended down 97.30 points or 0.89 percent at 10,890.85, after rising to a high of 11,156.35 at the start.

On the economic front, ADP Employment Report for October will be revealed at 8.15 am ET. The consensus is 200,000, while it was up 208,000 in the prior month.

The Treasury Refunding Announcement will be at 8.30 am ET.

The Energy Information Administration or EIA’s Petroleum Status Report for the week is scheduled at 10.30 am ET. In the prior week, the Crude Oil Inventories were up 2.6 million barrels and the Gasoline Inventories were down 1.5 million barrels.

The Federal Open Market Committee or FOMC announcement will be at 2.00 pm ET. The Federal Funds rate is expected in a range of $3.75 – $4.00 percent.
Fed Chair Press Conference scheduled at 2.30 pm ET.

Asian stocks ended lower on Wednesday. China’s Shanghai Composite index rallied 1.15 percent to 3,003.37. Hong Kong’s Hang Seng index jumped 2.41 percent to 15,827.17.

Japanese shares ended on a flat note. The Nikkei average finished marginally lower at 27,663.39 ahead of a public holiday on Thursday. The broader Topix index closed 0.10 percent higher at 1,940.46.

Australian markets edged up slightly. The benchmark S&P/ASX 200 index inched up 0.14 percent to 6,986.70 while the broader All Ordinaries index ended up 0.11 percent at 7,177.80.

European shares are trading mostly lower. CAC 40 of France is down 7.57 points or 0.14 percent. DAX of Germany is declining 8.37 points or 0.06 percent. FTSE 100 of England is sliding 25.36 points or 0.35 percent. The Swiss Market Index is up 26.14 points or 0.24 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.041 percent.

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