Futures Suggests Wall Street To Open Broadly Lower
The U.S. manufactured durable goods orders to be published Wednesday and other economic announcements might get special attention. Google parent Alphabet (GOOGL), Microsoft (MSFT), and Twitter (TWTR) shall announce quarterly results after the close of today’s trading.
U.S.-China tensions also remained on investors’ radars.
Asian shares finished lower, while European shares are trading down.
Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower.
As of 8.05 am ET, the Dow futures were up 17.00 points, the S&P 500 futures were down 3.00 points and the Nasdaq 100 futures were declining 22.25 points.
The U.S. major averages ended Tuesday’s session modestly higher. The Dow and the S&P 500 once again reached new record closing highs. The Dow ended the day up just 15.73 points or less than a tenth of a percent at 35,756.88. The Nasdaq also crept up 9.01 points or 0.1 percent to 15,235.72, while the S&P 500 edged up 8.31 points or 0.2 percent to 4,574.79.
On the economic front, the Commerce Department’s Durable Goods Orders for September will be published at 8.30 am ET. The consensus is for a decline of 0.9 percent, while it was up 1.8 percent in the prior month.
Census Bureau’s International Trade in Goods (Advance) for September is scheduled at 8.30 am ET. The consensus is for a deficit of $87.9 billion, while the deficit was at $87.6 billion in the prior month.
Retail Inventories (Advance) for September will be issued at 8.30 am ET. In the prior month, the inventories were up 0.1 percent.
The Commerce Department’s Wholesale Inventories (Advance) for September is expected at 8.30 am ET. The consensus is for an increase of 1.0 percent, while it was up 1.2 percent in the previous month.
State Street Investor Confidence Index for October will be published at 10.00 am ET. In the prior month, the Index was at 105.9.
The Energy Information Administration or EIA’s Petroleum Status Report for the week will be revealed at 10.30 am ET. In the prior week, the Crude oil inventories were down 0.4 million barrels and the Gasoline inventories were down 5.4 million barrels.
Survey of Business Uncertainty for October is scheduled at 11.00 am ET. In September the sales growth was 4.28 percent and employment growth were 5.12 percent.
Two-year floating rate note auction will be held at 11.30 am ET and the five year treasury note auction will be held at 1.00 pm ET.
Asian stocks ended broadly lower on Wednesday. The benchmark Shanghai Composite index dropped 35.33 points, or 0.98 percent, to 3,562.31. Hong Kong’s Hang Seng index fell 409.53 points, or 1.57 percent, to settle at 25,628.74.
Japanese shares ended on a subdued. The Nikkei average finished marginally lower at 29,098.24, while the broader Topix index closed 0.23 percent lower at 2,013.81.
Australian stocks fluctuated before ending on a flat note.
European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 20.60 points or 0.30 percent. The German DAX is losing 65.77 points or 0.42 percent, the U.K. FTSE 100 Index is declining 8.67 points or 0.12 percent.
The Swiss Market Index is sliding 45.80 points or 0.37 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.22 percent.
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