Wall Street To Open On Negative Territory

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

As of 7.40 am ET, the Dow futures were sliding 17.00 points, the S&P 500 futures were declining 1.00 points and the Nasdaq 100 futures were down 4.00 points.

Asian shares finished mixed, while European shares are trading positive.

FDA’s plan to allow COVID-19 booster vaccines in a mix and match pattern is a point of discussion today, while the U.K. is facing an upsurge in corona infections.

The U.S. major averages closed on a firm note on Tuesday. The Dow ended higher by 198.70 points or 0.56 percent at 35,457.31. The S&P 500 surged up 33.17 points or 0.74 percent to settle at 4,519.63, while the tech-laden Nasdaq advanced 107.28 points or 0.71 percent to 15,129.09

On the economic front, 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 up 6.1 million barrels and the gasoline inventories were down 2.0 million barrels.

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

Beige Book, produced roughly two weeks before the monetary policy meetings of the Federal Open Market Committee at 2.00 pm ET.

Atlanta Federal Reserve Bank President Raphael Bostic to give opening and closing remarks before virtual Racism and the Economy: Focus on the Wealth Divide event hosted by the Federal Reserve district banks at 12 pm ET.

Minneapolis Federal Reserve Bank President Neel Kashkari to participate in virtual Racism and the Economy: Focus on the Wealth Divide event hosted by the Federal Reserve district banks at 12 pm ET.

Chicago Federal Reserve Bank President Charles Evans to participate in virtual “Racism and the Economy: Focus on the Wealth Divide” event hosted by the Federal Reserve district banks at 12.00 pm ET.

Federal Reserve Board Governor Randal Quarles to speak on the economic outlook before the Milken Institute Global Conference at 1.00 pm ET.

St. Louis Federal Reserve Bank President James Bullard to participate in the closing panel before virtual Racism and the Economy: Focus on the Wealth Divide event hosted by the Federal Reserve district banks at 1.45 pm ET.

San Francisco Federal Reserve Bank President Mary Daly to participate in a virtual fireside chat before Symposium on Asian Banking and Finance co-hosted by the Federal Reserve Bank of San Francisco at 8.35 pm ET.

Asian stocks ended mixed on Wednesday. Chinese shares fell slightly. The benchmark Shanghai Composite index dropped 6.15 points, or 0.17 percent, to 3,587. Hong Kong’s Hang Seng index rallied 348.81 points, or 1.35 percent, to 26,136.02.

Japanese markets ended off their day’s highs amid concerns about rising U.S. Treasury yields. The Nikkei average ended up 40.03 points, or 0.14 percent, at 29,255.55. The broader Topix index settled marginally higher at 2,027.67.

Australian markets gained ground. The benchmark S&P/ASX 200 index rose 38.80 points, or 0.53 percent, to 7,413.70 while the broader All Ordinaries index ended up 37 points, or 0.48 percent, at 7,727.20.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 2.74 points or 0.04 percent. The German DAX is adding 18.80 points or 0.12 percent, the U.K. FTSE 100 Index is gaining 4.89 points or 0.07 percent.

The Swiss Market Index is adding 79.24 points or 0.66 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.14 percent.

Source: Read Full Article