Wall Street Targets To Open Positive

FOMC minutes might get special attention on Wednesday. Producer Price Index or PPI for September and Atlanta Fed Business Inflation Expectations for October are the major economic announcements on Wednesday. Investors might be interested in the Fed speeches scheduled for the day.

Russia continues attacks on Ukraine. The European countries are keenly watching energy prices as winter is fast approaching.

As of 7.50 am ET, the Dow futures were up 140.00 points, the S&P 500 futures were adding 24.75 points and the Nasdaq 100 futures were progressing 97.75 points.

The U.S. major averages finished gained most broadly up on Tuesday. The Dow climbed to 29,608.48 and ended the session with a gain of 36.31 points or 0.12 percent at 29,239.19. The S&P 500 settled at 3,588.84, down 23.55 points or 0.65 percent from the previous close. The Nasdaq settled at 10,426.19, down 115.91 points or 1.1 percent.

On the economic front, The Producer Price Index or PPI Final Demand for September will be released at 8.30 am ET. The consensus is for an increase of 0.2 percent, while it was down 0.1 percent.

Atlanta Fed Business Inflation Expectations for October will be issued at 10.00 am ET. In the prior month, the Expectations were up 3.3 percent.

Ten-year Treasury Note auction will be held at 1.00 pm ET.

The Federal Open Market Committee or FOMC Minutes is scheduled at 2.00 pm ET.

Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a Town Hall before the 2022 Northwoods Economic Development Summit at 10.00 am ET.

Federal Reserve Vice Chair for Supervision Michael Barr will speak on New Technologies, the Fed, and Inclusion before the 2022 D.C. Fintech Week event at 1.45 pm ET.

Federal Reserve Board Governor Michelle Bowman will deliver a speech on Forward Guidance as a Monetary Policy Tool: Considerations for the Current Economic Environment before the Money Marketeers of New York University at 6.30 pm ET.

Asian stocks ended mixed on Wednesday. Chinese shares posted strong gains. The benchmark Shanghai Composite index climbed 1.53 percent to 3,025.51.
Hong Kong’s Hang Seng index ended 0.78 percent lower at 16,701.03 after a choppy trade.

Japanese shares ended lower. The Nikkei average ended marginally lower at 26,396.83 while the broader Topix index slipped 0.12 percent to 1,869. Tech stocks suffered heavy losses, with Tokyo Electron tumbling 4.4 percent.

Australian markets ended on a flat note. The benchmark S&P/ASX 200 index finished marginally higher at 6,647.50 while the broader All Ordinaries index closed at 6,842.30.

European shares are trading mostly higher. CAC 40 of France is adding 9.39 points or 0.16 percent. DAX of Germany is progressing 27.31 points or 0.23 percent. FTSE 100 of England is declining 15.15 points or 0.22 percent. The Swiss Market Index is up 0.17 points or 0.00 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.22 percent.

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