Wall Street Poised To Open Higher

Light trading is expected on Wednesday in view of the reduced economic announcements. Traders might be reacting to the latest update on the COVID -19 variant Omicron.

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

As of 7.15 am ET, the Dow futures were up 115.00 points, the S&P 500 futures were adding 13.25 points and the Nasdaq 100 futures were progressing 37.25 points.
Asian shares finished higher, while European shares closed mixed.

The U.S. major averages all moved sharply higher on Tuesday.

The Nasdaq soared 461.76 points or 3 percent to 15,686.92, continuing to recover after ending last Friday’s trading at its lowest closing level in well over a month. The Dow also jumped 492.40 points or 1.4 percent to 35,719.43, while the S&P 500 surged up 95.08 points or 2.1 percent to 4,686.75.

On the economic front, the Bureau of Labor Statistics’ Job Opening and Labor Turnover Survey or JOLTS for October will be published at 10.00 am ET. The consensus is for 10.400, while it was up 10.438 in the prior month.

The Energy Information Administration or EIA’s Petroleum Status Report for the week will be published at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 0.9 million barrels, while Gasoline inventories were up 4.0 million barrels.
Ten-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks ended mostly higher on Wednesday. Chinese stocks settled higher. The benchmark Shanghai Composite index rose 42.48 points, or 1.18 percent, to 3,637.57 while Hong Kong’s Hang Seng index finished marginally higher at 23,996.87 after a volatile session.

Japanese shares ended sharply higher. The Nikkei average climbed 405.02 points, or 1.42 percent, to finish at 28,860.62 while the broader Topix index closed 0.62 percent higher at 2,002.24.

Australian markets notched their best session in more than 2 months as virus fear eased. The benchmark S&P/ASX 200 index climbed 91.50 points, or 1.25 percent, to 7,405.40, marking the best session since Oct 4. The broader All Ordinaries index ended up 102 points, or 1.34 percent, at 7,707.20.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is declining 1.08 points or 0.02 percent. The German DAX is losing 57.48 points or 0.36 percent, the U.K. FTSE 100 Index is gaining 15.73 points or 0.22 percent.

The Swiss Market Index is adding 120.39 points or 0.97 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.26 percent.

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