The latest earnings results might be influencing the market trends on Wednesday. Early signs from the U.S. Futures Index suggest that Wall Street might open significantly up.
Asian shares finished mostly up, while European shares are trading positive.
As of 7.35 am ET, the Dow futures were up 82.00 points, the S&P 500 futures were adding 21.25 points and the Nasdaq 100 futures were progressing 128.75 points.
The U.S. major averages ended Tuesday’s session narrowly mixed. While the Dow dipped 96.36 points or 0.3 percent to 37,905.45, the Nasdaq climbed 65.66 points or 0.4 percent to 15,425.94 and the S&P 500 rose 14.17 points or 0.3 percent to 4,864.60.
On the economic front, the flash Composite Purchasing Managers’ Index or PMI for January will be released at 9.45 am ET. The consensus for the Manufacturing Index is 47.7, while the consensus for the Service Index is 51.0.
The survey of Business Uncertainty for January will be released at 11.00 am ET. In the prior month, the sales growth was up 4.01 percent, and the employment growth was 4.24 percent.
A two-year floating rate note or FRN auction will be held at 11.30 am ET. The five-year Treasury note auction will be held at 1.00 pm 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 down 2.5 million barrels and the Gasoline inventories were up 3.1 million barrels.
Asian stocks ended mixed on Wednesday. China’s Shanghai Composite index climbed 1.80 percent to 2,820.77. Hong Kong’s Hang Seng index jumped 3.56 percent to 15,899.87.
Japanese markets ended lower. The Nikkei average dropped 0.80 percent to 36,226.48 while the broader Topix index settled 0.51 percent lower at 2,529.22.
Australian markets fluctuated before finishing marginally higher.
European shares are trading higher. CAC 40 of France is gaining 60.34 points or 0.82 percent. DAX of Germany is adding is surging 210.09 points or 1.27 percent. FTSE 100 of England is progressing 24.26 points or 0.32 percent. The Swiss Market Index is up 24.21 points or 0.22 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is progressing 1.70 percent.
Business News
Wall Street Target To Open Positive
2024-01-24 12:59:49