Initial trends on the U.S. Futures Index point to a moderately lower open for Wall Street on Wednesday. In the Asian trading session, gold held near record levels, while crude oil retreated from a multi-week high.
Asian shares finished mostly up, while European shares are broadly up.
As of 8.15 am ET, the Dow futures were down 6.00 points, the S&P 500 futures were sliding 1.50 points and the Nasdaq 100 futures were declining 27.25 points.
The U.S. major averages finished up on Tuesday. The Dow ended with a gain of 83.57 points or 0.2 percent at 42,208.22, after hitting a fresh record intra-day high of 42,208.22.
The S&P 500 closed up 14.36 points or 0.25 percent at 5,732.93, slightly off the all-time high of 5,735.32, and the Nasdaq climbed 100.25 points or 0.56 percent to 18,074.52.
On the economic front, the New Home Sales for August will be issued at 10.00 am ET. The consensus is 700K, while it was up 739K in the prior month.
The Energy Information Administration or EIA’s Petroleum Status Report for the week will be released at 10.30 am ET. In the prior week, the Crude oil inventories were down 1.6 million barrels and the Gasoline Inventories were up 0.1 million barrels.
The Survey of Business Uncertainty for September will be published at 11.00 am ET. In the prior month, the Sales Growth was up 3.87 percent.
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.
Fed Governor Adriana Kugler will speak on the economic outlook before event hosted by Harvard Kennedy School at 4.00 pm ET.
Asian stocks were muted on Wednesday. China’s Shanghai Composite index surged 1.16 percent to 2,896.31. Hong Kong’s Hang Seng index rose 0.68 percent to 19,129.10.
Japanese markets fell slightly in choppy trade. The Nikkei average slid 0.19 percent to 37,870.26 while the broader Topix index settled 0.23 percent lower at 2,650.50.
Australian markets ended slightly lower. The benchmark S&P/ASX 200 dipped 0.19 percent to 8,126.40. The broader All Ordinaries index ended down 0.15 percent at 8,372.80.
European shares are trading mostly higher. CAC 40 of France is down 12.24 points or 0.16 percent. DAX of Germany is falling 48.62 points or 0.26 percent. FTSE 100 of England is progressing 23.36 points or 0.28 percent. The Swiss Market Index is up 80.94 points or 0.67 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.26 percent.
Business News
Futures Suggest Wall Street To Trend Moderately Down At Open
2024-09-25 12:35:44
