Initial trends on the U.S. Futures Index suggest that Wall Street might open lower on Wednesday. Market investors might be focusing on economic announcements today.
Asian shares finished mostly up, while European shares are trading in the negative zone.
In the Asian session, gold edged lower on dollar strength while oil prices rose despite industry data showing a surprise jump in U.S. stockpiles.
As of 8.10 am ET, the Dow futures were down 87.00 points, the S&P 500 futures were declining 5.50 points and the Nasdaq 100 futures were sliding 1.50 points.
The U.S. major averages finished mostly up on Tuesday. The Dow settled with a loss of 299.05 points or 0.76 percent, at 39,112.16. The Nasdaq climbed up 220.84 points or 1.26 percent, to 17,717.65, while the S&P 500 ended up by 21.43 points or 0.39 percent, at 5,469.30.
On the economic front, the New Home Sales for May will be released at 10.00 am ET. The consensus is 650K, while it was up 634K in the prior month.
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 down 2.5 million barrels, while gasoline inventories were down 2.3 million barrels.
The Survey of Business Uncertainty for June will be issued at 11.00 am ET. In the prior month, the sales growth were up 3.82 percent.
The two-year Floating Rate Note or FRN auction will be held at 11.30 am ET. Five-year Treasury Note auction will be held at 1.00 pm ET.
Asian stocks ended mostly higher on Wednesday. Chinese markets ended notably higher.
The benchmark Shanghai Composite index rose 0.76 percent to 2,972.53 while Hong Kong’s Hang Seng index ended marginally higher at 18,089.93.
Japanese markets gained at the closing. The Nikkei average closed up 1.26 percent at 39,667.07. The broader Topix index settled 0.56 percent higher at 2,802.95.
Australian markets fell notably. The benchmark S&P/ASX 200 dropped 0.71 percent to 7,783. The broader All Ordinaries index finished 0.67 percent lower at 8,022.90.
European shares are trading mostly lower. CAC 40 of France is down 71/23 points or 0.93 percent. DAX of Germany is declining 60.85 points or 0.33 percent. FTSE 100 of England is down 25.32 points or 0.31 percent. The Swiss Market Index is points or 0.70 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.65 percent.
Business News
Futures Suggest That Wall Street Might Open Lower
2024-06-26 12:35:37
