Wall Street Might Gain Moderately At Open

The initial trend on U.S. Futures Index suggests that Wall Street might open positive.

Major earnings reports and a report on import and export prices might be the focus on Wednesday. During the Asian trading, gold edged higher, while oil recovered some ground.

As of 8.15 am ET, the Dow futures were up 20.00 points, the S&P 500 futures were adding 2.00 points and the Nasdaq 100 futures were progressing 13.50 points.

The U.S. major averages were down at the close on Tuesday. The tech-heavy Nasdaq slumped 187.10 points or 1.0 percent to 18,315.59, the Dow slid 324.80 points or 0.8 percent to 42,740.42 and the S&P 500 fell 44.59 points or 0.8 percent to 5,815.26.

On the economic front, the Import and Export Prices for September will be published at 8.30 am ET. The consensus is for a decline of 0.3 percent, while it was down 0.3 percent in the prior month.

Treasury Buyback announcement is scheduled at 11.00 am ET and results are expected at 2.00 pm ET.

Asian stocks fell broadly on Wednesday. China’s Shanghai Composite Index finished marginally higher. Hong Kong’s Hang Seng Index edged down 0.2 percent to 20,286.85.

Japanese markets tumbled. The Nikkei 225 Index slumped 1.8 percent to 39,180.30, while the broader Topix Index settled 1.2 percent lower at 2,690.66.

Australian markets closed lower. The benchmark S&P/ASX 200 Index slipped 0.4 percent to 8,284.70, while the broader All Ordinaries Index ended down 0.5 percent at 8,556.60.

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