The Federal Open Market Committee or FOMC minutes, the Wholesale Inventories (Preliminary) for August, and the 10-year Treasury Note auction are of interest to investors on Wednesday.
Asian shares ended broadly lower, while European shares were trading mostly up.
Early signs from the U.S. Futures Index suggest that Wall Street might open in the negative zone.
As of 8.10 am ET, the Dow futures were down 5.00 points, the S&P 500 futures were declining 2.25 points and the Nasdaq 100 futures were sliding 31.75 points.
The U.S. major averages all ended on a firm note on Tuesday. The Dow index ended the day with a gain of 126.13 points or 0.3 percent at 42,080.37. The S&P 500 settled at 5,751.13, gaining 55.19 points or 0.97 percent, while the Nasdaq ended higher by 259.01 points or 1.45 percent at 18,182.92.
On the economic front, the Wholesale Inventories (Preliminary) for August will be issued at 10.00 am ET. The consensus is for an increase of 0.2 percent, while it was up 0.2 percent.
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 3.9 million barrels, and the Gasoline inventories were 1.1 million barrels.
The 10-year Treasury Note auction will be held at 1.00 pm ET.
The Federal Open Market Committee or FOMC minutes will be issued at 2.00 pm ET.
Dallas Fed President Lorie Logan will speak on the current state of the economy before the Future of Global Energy Conference at 9.15 am ET.
Chicago Fed President Austan Goolsbee will give opening remarks before hybrid Chicago Payments Symposium at 10.30 am ET.
Richmond Fed President Thomas Barkin will speak before hybrid Chicago Payments Symposium at 12.15 pm ET.
Fed Vice Chair Philip Jefferson will speak on ‘The Discount Window, 1990-Present’ before a Charlotte Economics Club Lunch at 12.30 pm ET.
Asian stocks ended mixed on Wednesday. Chinese stocks plunged. The benchmark Shanghai Composite index slumped 6.62 percent to 3,258.86.
Hong Kong’s Hang Seng index fluctuated before finishing 1.38 percent lower at 20,637.24.
Japanese markets advanced as tech stocks tracked their U.S. peers higher. The Nikkei average climbed 0.87 percent to 39,277.96 while the broader Topix index settled 0.30 percent higher at 2,707.24.
Australian markets edged up slightly. The benchmark S&P/ASX 200 inched up 0.13 percent to 8,187.40 while the broader All Ordinaries index ended 0.16 percent higher at 8,456.80.
Business News
Wall Street Might Open In Negative Territory
2024-10-09 12:37:42
