Wall Street Aims To Open On Negative Note

Durable goods orders for the month of July will be the highlight on Wednesday.

Initial signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mixed, while European shares are trading broadly lower.

As of 7.45 am ET, the Dow futures were down 1.00 points, the S&P 500 futures were declining 1.75 points and the Nasdaq 100 futures were down 9.00 points.

The U.S. major averages finished higher on Tuesday. The Dow ended with a gain of 30.55 points or 0.09 percent at 35,366.26, paring some gains after hitting a high of 35,445.47. The S&P 500 settled at 4,486.23, gaining 6.70 points or 0.15 percent, while the tech-laden Nasdaq ended higher by 77.15 points or 0.52 percent at 15,019.80.

On the economic front, the Commerce Department’s Durable Goods Orders for July will be issued at 8.30 am ET. The consensus is for a decline of 0.2 percent, while it was up 0.8 percent in the prior month.

State Street Investor Confidence Index for August will be revealed at 10.00 am ET. In the previous month, the index was at 100.6.

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 down 3.2 million barrels, and gasoline inventories were up 0.7 million barrels.

Survey of Business Uncertainty for August will be released at 11.00 am ET. In the prior month, the sales growth was up 4.61 percent.

Two-year Floating Rate Note or FRN auction will be held at 11.30 am ET.

A five-year Treasury Note auction will be held at 1.00 pm ET.

San Francisco Federal Reserve Bank President Mary Daly will participate in a virtual fireside chat to discuss insights about the current barriers to access to financial services before the Aspen Institute at 1.00 pm ET.

Asian stocks traded mixed on Wednesday. The regional benchmarks Shanghai Composite and NZX50 gained close to 0.75 percent. Nikkei and Hang Seng however retreated from the previous close.

China’s Shanghai Composite gained 0.74 percent over the previous close-to-end trade at 3540.38.

The Hang Seng Index of the Hong Kong Stock Exchange shed 66.92 points or 0.26 percent from the previous close to finish trading at 25,661.00. The day’s high was at 25,949.00 and the low was at 25,524.12.

The S&P ASX200 gained 29 points or 0.39 percent to close at 7,531.90, around 1.32 percent below its 52-week high of 7632.80.

Japan’s Nikkei 225 index stayed close to the flatline with a correction of 0.03 percent from the previous close to end trading at 27,724.80.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 8.33 points or 0.12 percent. The German DAX is losing 35.34 points or 0.22 percent, the U.K. FTSE 100 Index is gaining 7.09 points or 0.10 percent.

The Swiss Market Index is declining 71.69 points or 0.58 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.048 percent.

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