Wall Street Poised To Open In Negative Territory

Major corporate earnings as well as geopolitical developments might be influencing the investor sentiments on Wednesday.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

In the Asian trading session, gold reached a new record high, while oil prices fell.

Asian shares finished mostly higher, while European shares are falling.

As of 8.10 am ET, the Dow futures were falling 201.00 points, the S&P 500 futures were declining 11.50 points and the Nasdaq 100 futures were down 48.75 points.

The U.S. major averages finished narrowly mixed on Tuesday. While the Nasdaq rose 33.12 points or 0.2 percent to 18,573.13, the Dow edged down 6.71 points or less than a tenth of a percent to 42,924.89 and the S&P 500 slipped 2.78 points or 0.1 percent to 5,851.20.

On the economic front, the Existing Home Sales for September will be issued at 10.00 am ET. The consensus is for an increase of 3.90 million, while it was up 3.86 million last year.

Atlanta Fed Business Inflation Expectations for October will be released at 10.00 am ET. In the prior month, the expectations were up 2.1 percent.

The Energy Information Administration or EIA’s Petroleum Status Report for the week is expected at 10.30 am ET. In the prior week, the crude oil inventories were down 2.2 million barrels and the gasoline inventories were down 2.2 million barrels.

Twenty-year Treasury bond auction will be held at 1.00 pm ET.

The Beige Book, usually released around two weeks before the monetary meetings of the Federal Open Market Committee or FOMC is scheduled at 2.00 pm ET.

Asian stocks ended mixed on Wednesday. Chinese shares eked out modest gains. The benchmark Shanghai Composite Index rose 0.5 percent to 3,302.80, while Hong Kong’s Hang Seng Index rallied 1.2 percent to 20,760.15.

Japanese markets were down. The Nikkei 225 Index fell 0.8 percent to 38,104.86. The broader Topix Index settled 0.6 percent lower at 2,636.96.

Australian markets finished marginally higher. The benchmark S&P/ASX 200 Index edged up 0.1 percent to 8,216, while the broader All Ordinaries Index ended marginally higher at 8,476.30.

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