Futures Points To Broadly Higher Open

Asian shares finished broadly down, while European shares are trading down on Wednesday.

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

Wholesale Inventories for April might be the major announcement on the economic front.

As of 7.50 am ET, the Dow futures were sliding 29.00 points, the S&P 500 futures were adding 3.50 points and the Nasdaq 100 futures were progressing 40.00 points.

The major U.S. averages finished mostly higher. The Dow ended weak, settling at 34,599.82 with a loss of 30.42 points or 0.09 percent. The S&P 500 closed at 4,227.26, up 0.74 points or 0.02%, while the Nasdaq closed higher by 43.19 points or 0.31 percent at 13,924.91.

On the economic front, the Commerce Department’s Wholesale Inventories (Preliminary) for April will be released at 10.00 am ET. The consensus is for an increase of 0.8 percent, while it was up 1.3 percent in the prior month.

The Energy Information Administration or EIA’s Petroleum Status Report for the week will be released at 10.30 am ET.

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

Asian stocks fell broadly on Wednesday. Chinese shares closed higher after the release of inflation data. The benchmark Shanghai Composite index edged up 11.29 points, or 0.32 percent, to 3,591.40 while Hong Kong’s Hang Seng index ended down 14.88 points, or 0.05 percent, at 28,758.12.

Japanese shares ended. The Nikkei average fell 102.76 points, or 0.35 percent, to 28,860.80, while the broader Topix index closed 0.28 percent lower at 1,957.14.

Australian markets gave up early gains to end slightly lower. The benchmark S&P/ASX 200 hit a record high in intra-day trading before ending the session down 22.40 points, or 0.31 percent, at 7,270.20. The broader All Ordinaries index slipped 20.30 points, or 0.27 percent, to 7,522.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining at 2.87 points or 0.04 percent. The German DAX is losing 85.55 points or 0.55 percent, the U.K. FTSE 100 Index is gaining 52.96 points or 0.95 percent.

The Swiss Market Index is adding 60.32 points or 0.52 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.29 percent.

Source: Read Full Article