The Consumer Price inflation and its impact on the outlook for interest rates might be the focus on Wednesday. Early trends on the U.S. Futures Index suggest that Wall Street might open lower.
In the Asian trading session, oil prices rose more than 1 percent. The dollar dropped, while gold gained ground.
As of 8.15 am ET, the Dow futures were down 125.00 points, the S&P 500 futures were declining 6.50 points and the Nasdaq 100 futures were sliding 15.50 points.
The U.S. major averages finished gained on Tuesday. The Nasdaq climbed 141.28 points or 0.8 percent to 17,025.88 and the S&P 500 rose 24.47 points or 0.5 percent to 5,495.52, but the Dow dipped 92.63 points or 0.2 percent to 40,736.96.
On the economic front, the Services Survey report for the second quarter will be released at 10.00 am ET. In the prior quarter, the selected services revenue were up 1.4 percent.
The Consumer Price Index or CPI for August will be issued at 8.30 am ET. The consensus is up 0.2 percent, while it was up 0.2 percent in the prior month.
Asian stocks declined on Wednesday. Chinese markets hit a seven-month low. The benchmark Shanghai Composite Index fell 0.8 percent to 2,721.80. Hong Kong’s Hang Seng Index settled 0.7 percent lower at 17,108.71.
Japanese markets tumbled. The Nikkei 225 Index slumped 1.5 percent to 35,619.77, while the broader Topix Index closed 1.8 percent lower at 2,530.67.
Australian markets ended modestly lower. The benchmark S&P/ASX 200 Index slipped 0.3 percent to 7,987.90. The broader All Ordinaries Index settled 0.3 percent lower at 8,195.20.
Business News
Wall Street Might Open In Negative Territory
2024-09-11 12:39:42
