Markets

Wall Street Aims To Open Positive

(RTTNews) - Initial signs from the U.S. Futures Index suggest that Wall Street might open moderately higher.

Asian shares ended mixed, while European shares finished positive.

U.S. job report as well as negotiations on a U.S. Covid-19 relief bill might get investor attention on Thursday. PMI Services Index for July, ISM Non-Manufacturing Index and other economic announcements on the day might also attract attention. Earnings report of Disney (DIS), Activision Blizzard (ATVI), Allstate (ALL), Beyond Meat (BYND), Monster Beverage (MNST), Planet Fitness (PLNT), and Western Union (WU) are scheduled after the close of today's trading.

As of 8.25 am ET, the Dow futures were up 187.00 points, the S&P 500 futures were adding 17.00 points and the Nasdaq 100 futures were progressing 17.25 points.

The US major Indices closed higher on Tuesday. The Dow closed higher for the third straight session, climbing 164.07 points or 0.6 percent to 26,828.47. The Nasdaq rose 38.37 points or 0.4 percent to a new record closing high of 10,941.17 and the S&P 500 advanced 11.90 to 0.4 percent to 3,306.51.

On the economic front, the Commerce Department's International Trade for June will be issued at 8.30 am ET. The consensus is for a deficit of $50.3 billion, compared to deficit of $54.6 billion in the prior month.

Treasury Refunding Announcement for the quarter will be at 8.30 am ET. PMI Services Index for July will be published at 9.45 am ET. The consensus is for 49.6, slightly up from 47.9 in the prior month.

ISM Non-Manufacturing Index for July will be released at 10.00 am ET. The consensus is for 55.0, down from 57.1 in the previous month.

The Energy Information Administration or EIA's Petroleum Status Report for the week is scheduled at 10.30 am ET. In the prior week, the Crude oil inventories were down 10.6 million barrels, while Gasoline inventories were up 0.7 million barrels. The 3-year and 10-year Treasury Note auction will be held at 11.00 am ET. The 30-year Treasury bond auction will be held at 11.00 am ET.

Cleveland Federal Reserve Bank President Loretta Mester will speak at a Liberal Arts Macroeconomics Conference webinar on the economic outlook at 5.00 pm ET.

In the corporate sector, Humana Inc. reported second quarter adjusted earnings per share of $12.56. Analysts were looking for $10.27.

Second quarter revenues increased year-on-year to $19.08 billion from $16.25 billion. Asian stocks turned in a mixed performance on Wednesday. Chinese shares rose after a private survey showed the services sector in the country continued to expand in July, albeit at a slower pace. The Caixin/Markit services Purchasing Managers' Index fell to 54.1 from June's 58.4, which was the highest reading since April 2010. The benchmark Shanghai Composite index edged up 5.88 points, or 0.17 percent, to 3,377.56.

Hong Kong's Hang Seng index gained 0.65 percent to end at 25,102.54. Japanese shares fell slightly. The Nikkei average slid 58.81 points, or 0.26 percent, to 22,514.85. The broader Topix index finished marginally lower at 1,554.71.

Australian markets fell notably. The benchmark S&P/ASX 200 dropped 36.30 points, or 0.60 percent, to 6,001.30, while the broader All Ordinaries index ended down 30.60 points, or 0.50 percent, at 6,135.90.

European shares are trading higher. CAC 40 of France is adding 41.48 points or 0.85 percent. DAX of Germany is gaining 79.71 points or 0.63 percent. FTSE 100 of England is progressing 68.99 points or 1.14 percent. Swiss Market Index is up 12.15 points or 0.12 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.62 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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