Futures Point To Higher Open For Wall Street

Trading on Wednesday might be impacted by reaction to a report on private-sector employment as well as the Federal Reserve’s Beige Book.

As of 8.05 am ET, the Dow futures were adding 30.00 points, the S&P 500 futures were progressing 2.00 points and the Nasdaq 100 futures were adding 1.25 points.

Early signs from the U.S. Futures Index suggest that Wall Street might open higher.
Asian shares finished mixed, while European shares are trading up.

U.S. major indexes finished broadly lower on Tuesday. The Dow ended the day up just 45.86 points or 0.1 percent at 34,575.31. Meanwhile, the Nasdaq slipped 12.26 points or 0.1 percent to 13,736.48 and the S&P 500 edged down 2.07 points or 0.1 percent to 4,202.04.

On the economic front, ADP Employment Report for May will be published at 8.15 am ET. The consensus is for 627,000, while it was up 742,000 in the prior month.

The Redbook for the week will be issued at 8.55 am ET. In the prior week, the Store Sales were up 13.6 percent.

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

Philadelphia Federal Reserve Bank President Patrick Harker will speak on “Entrepreneurship and Minority-Owned Business” before virtual “Racism and the Economy: Focus on Entrepreneurship” event hosted by the Federal Reserve Bank of Minneapolis at 12.00 pm ET.

Chicago Federal Reserve Bank President Charles Evans will speak on current economic conditions and monetary policy before virtual “Racism and the Economy: Focus on Entrepreneurship” event hosted by the Federal Reserve Bank of Minneapolis at 12.00 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker will speak on the economic outlook before the virtual Women in Housing and Finance Public Policy Luncheon at 12.00 pm ET.

Dallas Federal Reserve Bank President Robert Kaplan to participate in a moderated conversation on national and global economic issues before the virtual Global Perspectives series hosted by the Federal Reserve Bank of Dallas at 6.05 pm ET.

Asian stock markets finished mixed on Wednesday.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 13.84 points or 0.21 percent. The German DAX is adding 3.22 points or 0.02 percent, the U.K. FTSE 100 Index is gaining 10.87 points or 0.16 percent.

The Swiss Market Index is adding 47.91 points or 0.42 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.11 percent.

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