Initial trends on the U.S. Futures Index suggest that Wall Street might open positive on Wednesday.
The PMI Composite Final for May might get attention.
In the Asian session, gold edged up slightly, while oil was little changed.
Asian shares finished mixed, while European shares are trading mostly up.
As of 7.50 am ET, the Dow futures were up 91.00 points, the S&P 500 futures were adding 17.00 points and the Nasdaq 100 futures were progressing 110.50 points.
The U.S. major averages finished higher on Tuesday. The Dow climbed 140.26 points or 0.4 percent to 38,711.29, the Nasdaq rose 28.38 points or 0.2 percent to 16,857.05 and the S&P 500 edged up 7.94 points or 0.2 percent to 5,291.34.
On the economic front, the PMI Composite Final for May will be issued at 9.45 am ET. The consensus is 54.4, while it was up 51.3 in the prior month.
The ISM Services Index for May will be released at 10.00 am ET. The consensus is 49.4, while it was up 49.4 in April.
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 4.2 million barrels, and the gasoline inventories were up 2.0 million barrels.
The 4-month Treasury Bill auction will be held at 11.30 am ET.
Asian stocks ended mixed on Wednesday. Chinese stocks fell notably.
China’s Shanghai Composite index fell 0.83 percent to 3,065.40. Hong Kong’s Hang Seng index finished 0.1 percent lower at 18,424.96.
Japanese markets lost ground as the yen rebounded on strong wage data. The Nikkei average dipped 0.89 percent to 38,490.17 while the broader Topix index settled 1.41 percent lower at 2,748.22.
Australian stocks eked out modest gains. The benchmark S&P/ASX 200 rose 0.41 percent to 7,769.
European shares are trading mostly up. CAC 40 of France is gaining 81.10 points or 1.02 percent. DAX of Germany is progressing at 193.54 points or 1.05 percent. FTSE 100 of England is up 33.12 points or 0.40 percent. The Swiss Market Index is up 117.60 points or 0.98 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.45 percent.
Business News
Wall Street Targets To Open Higher
2024-06-05 12:16:05
