Futures Point To Positive Open For Wall Street


The report on consumer price inflation and its impact on the outlook for interest rates might be the focus on Wednesday.

Early trends on the U.S. Futures Index suggest that Wall Street might open positive.
Asian shares finished mixed, while European shares are trading higher.

As of 7.55 am ET, the Dow futures were up 54.00 points, the S&P 500 futures were adding 11.50 points and the Nasdaq 100 futures were progressing 52.00 points.

The U.S. major averages closed higher on Tuesday. The Dow jumped 317.02 points or 0.9 percent to 34,261.42, the Nasdaq rose 75.22 points or 0.6 percent to 13,760.70 and the S&P 500 climbed 29.73 points or 0.7 percent to 4,439.26.

The Atlanta Fed’s Business Inflation Expectations survey reports will be published at 10.00 am ET.

The Energy Information Administration or EIA’s Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week, the crude oil inventories were down 1.5 million barrels and the gasoline inventories were down 2.5 million barrels.

The Beige Book will be published at 2.00 pm ET.

Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a panel discussion at the National Bureau of Economic Research Summer Institute, in Massachusetts at 9.45 am ET.

Cleveland Federal Reserve Bank President Loretta Mester will speak at the National Bureau of Economic Research Summer Institute: Macro, Money and Financial Frictions at 4.00 pm ET.

Asian stocks ended mixed on Wednesday. Chinese stocks fell notably. The benchmark Shanghai Composite index dropped 0.78 percent to 3,196.13 while Hong Kong’s Hang Seng index rallied 1.08 percent to 18,860.95.

Japanese shares closed lower. The Nikkei average dropped 0.81 percent to 31.943.93 while the broader Topix index settled 0.67 percent lower at 2,221.48.

Australian markets closed a tad higher. The benchmark S&P/ASX 200 edged up 0.38 percent to 7,135.70 while the broader All Ordinaries index gained 0.35 percent to close at 7,341.50.

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