Initial trends on the U.S. Futures Index suggest that Wall Street might open moderately up.
In the Asian trading session, gold was marginally lower. Considering signs of a decline in U.S. inventories and OPEC’s forecast for relatively strong growth in global oil demand, oil futures extended gains.
Asian shares ended broadly higher, while European shares were trading positive.
As of 8.10 am ET, the Dow futures were up 49.00 points, the S&P 500 futures were adding 8.00 points and the Nasdaq 100 futures were progressing 30.00 points.
At Tuesday’s session, the Nasdaq jumped 151.07 points or 0.9 percent to 17,343.55 and the S&P 500 rose 14.53 points or 0.3 percent to 5,375.32, but the Dow fell 120.62 points or 0.3 percent to 38,747.42.
On the economic front, the Consumer Price Index or CPI for May will be published at 8.30 am ET.
The Energy Information Administration or EIA’s Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week, the crude oil inventories were up 1.2 million barrels, and the gasoline inventories were up 2.1 million barrels.
The 4-month Treasury bill auction will be held at 11.30 am ET.
The Federal Open Market Committee or FOMC meeting announcement is scheduled at 2.00 pm ET. It is expected to be unchanged at its June meeting.
The Treasury Statement for May will be published at 2.00 pm ET. The consensus is for deficit of $240.3 billion, while it was surplus $209.5 billion in the previous month.
The Fed Chair Press Conference will be at 2.30 am ET.
Asian stocks drifted lower on Wednesday. China’s Shanghai Composite closed up 0.31 percent at 3,037.47. Hong Kong’s Hang Seng index tumbled 1.31 percent to 17,937.84.
Japanese markets declined. The Nikkei average dipped 0.66 percent to 38,876.71 while the broader Topix index settled 0.73 percent lower at 2,756.44.
Australian markets ended lower. The benchmark S&P ASX 200 dropped 0.51 percent to 7,715.50 while the broader All Ordinaries index ended down 0.53 percent at 7,963.10.
Business News
Wall Street Set To Open Moderately Higher
2024-06-12 12:29:58
