Wall Street Might Open Moderately Up

(RTTNews) - Wednesday, on a lean day of economic announcements, investors are looking ahead to major reports later in the week.

During Asian trading, the dollar steadied, and gold was marginally higher. Oil prices rebounded on an unexpected draw in U.S. crude inventories.

Asian shares finished mixed, while European shares are trading mostly down.

Initial signals from the U.S. Futures Index suggest that Wall Street might open moderately up, while Nasdaq 100 futures might open lower.

As of 7.50 am ET, the Dow futures were up 31.00 points, the S&P 500 futures were adding 3.75 points and the Nasdaq 100 futures were declining 6.75 points.

The U.S. major averages finished higher on Tuesday. The tech-heavy Nasdaq helped lead the way higher on the day, surging 246.36 points or 1.5 percent to 16,265.63. The S&P 500 also jumped 57.33 points or 1.1 percent to 5,175.27, while the narrower Dow climbed 235.83 points or 0.6 percent to 39,005.49.

On the economic front, the Quarterly Services Survey for the fourth quarter is scheduled at 10.00 am ET. In the prior quarter, the selected services revenue was up 2.0 percent. 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 up 1.4 million barrels, while the gasoline inventories were down 4.5 million barrels.

Four-month Treasury bill auction will be held at 11.30 am ET. 30-year Treasury Bond auction will be held at 1.00 pm ET.

Asian stocks ended lower on Wednesday. China's Shanghai Composite index dropped 0.40 percent to 3,043.83.

Hong Kong's Hang Seng index finished marginally lower at 17,082.11.

Japanese markets closed modestly lower. The Nikkei average slid 0.26 percent to 38,695.97 while the broader Topix index settled 0.33 percent lower at 2,648.51.

Australian stocks closed higher. The benchmark S&P ASX 200 edged up 0.22 percent to 7,729.40 while the broader All Ordinaries index ended 0.21 percent higher at 7,989.50.

European shares are trading mostly lower. CAC 40 of France is down 8.28 points or 0.10 percent. DAX of Germany is declining 68.24 points or 0.38 percent. FTSE 100 of England is gaining 9.49 points or 0.12 percent. The Swiss Market Index is up 38.05 points or 0.33 percent.

Euro Stoxx 50 which 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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