The ground fighting between the Israeli military and Hezbollah inside Southern Lebanon is creating tensions across the globe.
The Private Sector Employment in September and Fed speeches might get attention on Wednesday. The Labor Department’s monthly jobs report on Friday might be of interest to investors.
In the Asian trading session, the gold prices were lower. Oil extended an overnight rally amid worries that Middle East tensions.
Initial cues from the U.S. Futures Index suggest that Wall Street might open in negative territory.
As of 8.05 am ET, the Dow futures were down 76.00 points, the S&P 500 futures were declining 16.75 points and the Nasdaq 100 futures were sliding 48.25 points.
The U.S. major averages finished lower on Tuesday. The Nasdaq tumbled 278.81 points or 1.5 percent to 17,910.36, the S&P 500 slumped 53.73 points or 0.9 percent to 5,708.75 and the Dow fell 173.18 points or 0.4 percent to 42,156.97.
On the economic front, the ADP Employment Report for September will be released at 8.15 am ET. The consensus is 121,500, while it was up 99,000 in the prior month.
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 4.5 million barrels and gasoline inventories were down 1.5 million barrels.
Cleveland Fed President Beth Hammack will give welcome remarks before the 2024 Minorities in Banking Forum hosted by the Fed Bank of Cleveland at 9.00 am ET.
St. Louis Fed President Alberto Musalem to give welcome remarks before the Community Banking Research Conference 2024 at 10.05 am ET. Fed Governor Michelle Bowman will give keynote speech at 11.00 am ET.
Richmond Fed President Thomas Barkin will speak on the national economic outlook before the 2024 WilmingtonBiz Conference and Expo at 12.15 pm ET.
Asian stocks ended mostly lower on Wednesday. Markets in mainland China remained shut for Golden Week holidays.
Hong Kong’s Hang Seng index surged 6.20 percent to 22,443.73.
Japanese markets were down. The Nikkei average fell 2.18 percent to reach an over one-week closing low of 37,808.76, while the broader Topix index settled 1.44 percent lower at 2,651.96.
Australian markets ended slightly lower despite strong gains in the energy sector. The benchmark S&P/ASX 200 slid 0.13 percent to 8,198.20 while the broader All Ordinaries index ended down 0.14 percent at 8,469.90.
Business News
Wall Street Poised To Open In Negative Territory
2024-10-02 12:34:18
