Futures Suggest Wall Street To Open Broadly Higher

Futures Suggest Wall Street To Open Broadly Higher

There are no clear triggers for investors to follow on Wednesday. Earlier signs from the U.S. Futures suggest that Wall Street might open broadly higher.

Asian shares finished mixed, while European shares are trading lower.

As of 7.45 am ET, the Dow futures were climbing 6.00 points, the S&P 500 futures were up 0.25 points and the Nasdaq 100 futures are declining 3.75 points.

U.S. Stocks closed higher on Tuesday. The Dow advanced 126.73 points or 0.5 percent to 25,628.91, the Nasdaq climbed 23.99 points or 0.3 percent to 7,883.66 and the S&P 500 rose 8.05 points or 0.3 percent to 2,858..45.

On the economic front, Richmond Federal Reserve Bank President Tom Barkin will speak on “Unlocking Our Potential” in Roanoke, Virginia, with audience Q&A, followed by a separate media Q&A at 8.45 am ET.

The Energy Information Administration or EIA’s Petroleum Status Report for the week will be issued at 10.30 am ET. In the previous week, the Crude Oil Inventories were 3.8 million barrels. Gasoline inventories were down 2.5 million barrels.

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

In the corporate sector, Boston Scientific Corp. announced an agreement to acquire Veniti, Inc., which has developed and commercialized the Vici venous stent system for treating venous obstructive disease.

Boston Scientific has been an investor in Veniti since 2016 and currently owns 25 percent of the company. The transaction price for the remaining stake consists of $108 million up-front cash, as well as up to $52 million in payments contingent upon U.S. FDA approval of the VICI stent system.

Asian stock markets finished mixed on Tuesday. The Chinese market declined. The Shanghai Composite Index ended down 35.30 points or 1.27% at 2,744.07.

In economic news, China’s exports growth exceeded expectations in July, despite the U.S. tariffs on Chinese goods.

The Japanese market edged down marginally. The Nikkei shed 18.43 points or 0.08 percent, as it settled at 22,644.31.

The Australian market ended modestly. The S&P/ASX 200 index ended up 14.60 points or 0.23 percent at 6,268.50. The broader All Ordinaries index settled at 6,354.90, gaining 14.10 points or 0.22 percent.

European shares are trading mostly lower. The CAC 40 Index of France is adding 1.76 points or 0.03 percent, the German DAX is climbing 31.22 points or 0.25 percent, the U.K. FTSE 100 Index is climbing 63.52 points or 0.82 percent and the Swiss Market Index is dropping 26.39 points or 0.29 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.08 percent.

by RTTNews Staff Writer

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