The Fed’s monetary policy announcement might be the highlight on Wednesday.
Asian shares finished mostly up, while European shares are trading mixed.
Early trends on the U.S. Futures Index suggest that Wall Street might open broadly higher.
As of 7.50 am ET, the Dow futures were down 26.00 points, the S&P 500 futures were adding 3.50 points and the Nasdaq 100 futures were progressing 54.50 points.
The U.S. major averages finished higher on Tuesday. The Dow advanced 320.33 points or 0.8 percent to 39,110.76, the S&P 500 climbed 29.09 points or 0.6 percent to 5,178.51 and the Nasdaq rose 63.34 points or 0.4 percent to 16,166.79.
On the economic front, the Atlanta Fed Business Inflation Expectations for March will be published at 10.00 am ET. In the prior month, the inflation expectations were up 2.3 percent.
The Energy Information Administration or EIA’s Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week, the crude oil inventories were down 1.5 million barrels and the gasoline inventories were down 5.7 million barrels.
The Federal Open Market Committee or FOMC’s announcement is expected at 2.00 pm ET. The consensus for change is 0 bp.
The Fed Chair Press Conference will be held at 2.30 pm ET.
Asian stocks rose broadly on Wednesday. Chinese shares closed higher. The benchmark Shanghai Composite index rose 0.55 percent to 3,079.69 while Hong Kong’s Hang Seng index edged up marginally to 16,543.07.
Japanese markets were closed for a public holiday.
Australian markets ended on a flat note, giving up early gains.
European shares are trading mixed. CAC 40 of France is down 45.21 points or 0.55 percent. DAX of Germany is adding 54.18 points or 0.30 percent. FTSE 100 of England is sliding 11.80 points or 0.15 percent. The Swiss Market Index is up 51.40 points or 0.44 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.010 percent.
Business News
Wall Street Might Open Broadly Up
2024-03-20 12:14:29
