Futures Points Wall Street To Open Lower

In the U.S., the COVID-19 cases are the lowest in nearly a year with good vaccination efforts in all 50 states.

Initial signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mixed, while European shares are trading lower.

As of 7.25 am ET, the Dow futures were declining 283.00 points, the S&P 500 futures were down 40.50 points and the Nasdaq 100 futures were sliding 181.25 points.

The U.S. major indices finished mostly lower. The Dow ended down by 267.13 points or 0.78 percent at 34,060.66. The Nasdaq, which rose to 14,485.34, settled at 13,303.64, recording a loss of 75.41 points or 0.56 percent, while the S&P 500 slid 35.46 points or 0.85 percent to settle at 4,127.83.

On the economic front, the Energy Information Administration or EIA’s Petroleum Status report for the week will be published at 10.30 am ET. In the prior week, the Crude oil inventories were down 0.4 million barrels and Gasoline Inventories were up 0.4 million barrels.

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

The Federal Open Market Committee or FOMC minutes is scheduled at 2.00 pm ET.

Federal Reserve Vice Chair Randal Quarles to testify on Supervision and Regulation before virtual hearing of the House Financial Services Committee at 10.00 am ET.

St. Louis Federal Reserve Bank President James Bullard to speak on the U.S. economy and monetary policy before virtual Official Monetary and Financial Institutions Forum fireside chat at 10.00 am ET.

Asian stocks finished mixed on Wednesday. Chinese shares closed lower amid increased tensions between Beijing and Washington. The benchmark Shanghai Composite index ended down 18.05 points, or 0.51 percent, at 3,510.96. Hong Kong market was closed for National Day.

Japanese shares ended. The Nikkei average fell 362.39 points, or 1.28 percent, to 28,044.45. The broader Topix index closed 0.66 percent lower at 1,895.24.

Australian markets tumbled after Wall Street’s weak lead amid renewed inflation fears. The benchmark S&P/ASX 200 slumped 134.30 points, or 1.90 percent, to 6,931.70, while the broader All Ordinaries index closed 1.83 percent lower at 7,165.70.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 67.09 points or 1.06 percent. The German DAX is losing 196.94 points or 1.28 percent, the U.K. FTSE 100 Index is down 76.97 points or 1.10 percent.

The Swiss Market Index is sliding 73.30 points or 0.66 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.24 percent.