Wall Street Targets To Open Lower

(RTTNews) - The increase in Covid-19 as well as the development in the U.S. Presidential election are keenly observed by the investors.

Asian shares are trading mostly lower, while European shares are down.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

As of 8.10 am ET, the Dow futures were declining 501.00 points, the S&P 500 futures were down 52.25 points and the Nasdaq 100 futures were sliding 154.25 points.

The U.S. major averages finished Tuesday well on opposite sides of the unchanged line. The Nasdaq climbed 72.41 points or 0.6 percent to 11,431.35, while the Dow slid 222.19 points or 0.8 percent to 27,463.19 and the S&P 500 fell 10.29 points or 0.3 percent to 3,390.68.

On the economic front, International Trade in Goods for September will be issued at 8.30 am ET. The consensus is for a deficit of $85.0 billion, while the deficit was $82.9 billion a month ago.

Retail Inventories for September will be published at 8.30 am ET. In the prior month, the growth was 0.8 percent.

Wholesale Inventories for September will be released at 8.30 am ET. The consensus is for an increase of 0.1 percent, while it was up 0.5 percent in the prior month. The State Street Investor Confidence Index for October will be revealed at 10.00 am ET. In the previous month, the Index was at 83.9.

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 1 Million barrels and Gasoline inventories were up 1.9 million barrels.

Survey of Business Uncertainty Survey report for October will be issued at 11.00 am ET. In the prior month, the sales growth was 0.05 and employment growth was 0.05. Two-year floating-rate note or FRN auction will be held at 11.30 am ET. Five-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks ended mostly lower on Wednesday. Chinese shares eked out modest gains, with the benchmark Shanghai Composite index rising 14.92 points, or 0.46 percent, to 3,269.24. Hong Kong's Hang Seng index dropped 0.32 percent to 24,708.80.

Japanese shares ended lower. The Nikkei average slipped 67.29 points, or 0.29 percent, to 23,418.51, while the broader Topix index closed 0.31 percent lower at 1,612.55.

Australian markets finished marginally higher, led by healthcare and technology stocks. The benchmark S&P/ASX 200 ended up 6.70 points, or 0.11 percent, at 6,057.70, while the broader All Ordinaries index inched up 14.60 points, or 0.23 percent, to 6,261.80.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 85.46 points or 1.77 percent. The German DAX is losing 427.23 points or 3.55 percent, the U.K. FTSE 100 Index is declining 107.89 points or 1.87 percent.

The Swiss Market Index is adding 206.01 points or 2.07 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 3.33 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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