(RTTNews) - Early cues from the U.S. Futures Index suggest that major Wall Street Indices might open positive on Wednesday, reversing from a lower close on Tuesday.
The House Starts and Permits data and Quarterly Services Survey report are the major economic announcements on the day.
Corporate reports might attract investor attention. The U.S. Food and Drug Administration's authorization of the first COVID-19 diagnostic at-home self-test might enthuse investors. The Lucira COVID-19 All-In-One Test Kit by Lucira Health, Inc., is a single-use test and could provide results in 30 minutes or less.
Asian shares finished broadly higher, while European shares are trading lower.
As of 7.15 am ET, the Dow futures were adding 136.00 points, the S&P 500 futures were up 12.00 points and the Nasdaq 100 futures were progressing 22.50 points.
The U.S. major averages all finished Tuesday in negative territory. The Dow slid 167.09 points or 0.6 percent to 29,783.35, the Nasdaq dipped 24.79 points or 0.2 percent to 11,899.34 and the S&P 500 fell 17.38 points or 0.5 percent to 3,609.53.
On the economic front, the Commerce, Housing & Urban Development Department's Housing Starts and Permits for October will be released at 8.30 am ET. The consensus is for 1.460 million, while it was up 1.415 million in the prior month. The Census Bureau quarterly services survey for the third quarter will be issued at 10.00 am ET. In the prior quarter, the Selected Services Revenue was down 9.1 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 4.3 million barrels and the Gasoline Inventories were down 2.3 million barrels. The twenty-year Treasury Bond Auction will be at 1.00 pm ET.
Chicago Federal Reserve Bank President Charles Evans will give welcoming remarks at the 7th Annual Summit on Competitiveness webinar event held by the Federal Reserve Bank of Chicago at 10.00 am ET.
New York Federal Reserve Bank President John Williams will speak at the "SABEW20 - Focus on the Future" webinar event held by the Society for Advancing Business Writing and Editing at 12.15 pm ET. St. Louis Federal Reserve Bank President James Bullard will give a presentation via Zoom on the U.S. economy and monetary policy at the Rotary Club of Hot Springs National Park luncheon at 1.20 pm ET.
Dallas Federal Reserve Bank President Robert Kaplan to speak in a moderated Q&A at a Dallas Fed Global Perspectives Speaker Series webinar event 6.00 pm ET.
Atlanta Federal Reserve Bank President Raphael Bostic to speak about "How Diverse Perspectives Improve Economics" at a Federal Reserve Education webinar event at 7.00 pm ET.
Asian stocks turned in broadly higher on Wednesday. Chinese shares ended a tad higher after the government hinted at additional policy measures to prop up the economy. The benchmark Shanghai Composite index rose 7.41 points, or 0.22 percent, to 3,347.30, while Hong Kong's Hang Seng index ended up 129.20 points, or 0.49 percent, at 26,544.29.
Japanese shares tumbled. The Nikkei average fell 286.48 points, or 1.10 percent, to 25,728.14. The broader Topix index closed 0.81 percent lower at 1,720.65.
Australian markets rose modestly. The benchmark S&P/ASX 200 index rose 32.90 points, or 0.51 percent, to 6,531.10 despite concerns about a resurgence in coronavirus infections. The broader All Ordinaries index ended up 28.70 points, or 0.43 percent, at 6,726.50.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is declining 159.54 points or 3.37 percent. The German DAX is adding 48.39 points or 0.37 percent, the U.K. FTSE 100 Index is gaining 14.76 points or 0.23 percent.
The Swiss Market Index is adding 29.63 points or 0.28 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.46 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
