Economic announcements will be the highlight on Wednesday. Jobless Claims, International Trade in Goods and Services, as well as the Factory Orders for May will be getting special attention.
Early signs from the U.S. Futures Index suggest that Wall Street might open mostly down.
The Asian shares finished mostly up, while European shares are trading positive.
As of 7.55 am ET, the Dow futures were up 29.00 points, the S&P 500 futures were declining 2.00 points and the Nasdaq 100 futures were sliding 14.50 points.
The U.S. major averages finished higher on Tuesday. The Dow ended with a gain of 162.33 points or 0.41 percent at 39,331.85. The S&P 500 settled at 5,509.01, gaining 33.92 points or 0.62%, while the Nasdaq advanced 149.46 points or 0.84 percent, to 18,028.76.
On the economic front, the ADP Employment Report for June will be issued at 8.15 m ET. The consensus is 161,000, while it was up 152,000 in the prior month.
The International Trade in Goods and Services for May will be released at 8.30 am ET. The consensus is for a deficit of $76 billion, while the deficit in the prior month was $74.6 billion.
The Labor Department’s Jobless Claims for the week is expected at 8.30 am ET. The consensus is 233K, while it was up 233K in the previous week.
The PMI Composite Final for June will be published at 9.45 am ET. In May, the composite index was up 54.6. The consensus for services index is 55.1, while it was up 54.8 in the prior month.
The Factory Orders for May will be issued at 10.00 am ET. The consensus is for an increase of 0.2 percent, while it was up 0.7 percent in the prior month.
The ISM Services Index for June is scheduled at 10.00 am ET. The consensus is 53.0, while it was up 53.8 in May.
Asian stocks rose broadly on Wednesday. China’s Shanghai Composite Index dipped 0.5 percent to 2,982.38. Hong Kong’s Hang Seng Index jumped 1.2 percent to 17,978.57.
Japanese stocks rose for a fourth consecutive session. The Nikkei 225 Index surged 1.3 percent to 40,580.76, while the broader Topix Index settled 0.5 percent higher at 2,872.18.
Australian markets closed higher. The benchmark S&P/ASX 200 Index edged up 0.3 percent to 7,7,39.90, while the broader All Ordinaries Index gained 0.3 percent to close at 7,986.10.
Australian retail sales rose more than expected in May.
European shares are trading mostly higher. CAC 40 of France is progressing 108.03 points or 1.43 percent. DAX of Germany is adding 186.73 points or 1.03 percent. FTSE 100 of England is up 41.37 points or 0.51 percent. The Swiss Market Index is up 43.56 points or 0.36 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.42 percent.
Business News
Wall Street Might Open Broadly Lower
2024-07-03 12:17:59
