Wall Street Poised To Open Mostly In Negative Territory

Early signs from the U.S. Futures Index suggest that Wall Street might open lower on Wednesday.

Asian shares finished mostly lower, while European shares are trading in negative.
Consumer Price Inflation report might be the highlight on Wednesday.

As of 7.55 am ET, the Dow futures were down 10.00 points, the S&P 500 futures were adding 1.00 points and the Nasdaq 100 futures were progressing 7.50 points.

The U.S. major averages were lower on Tuesday’s closing. The tech-heavy Nasdaq slumped 144.28 points or 1.0 percent to 13,773.61, largely offsetting the strong gain posted on Monday. The S&P 500 also fell 25.56 points or 0.6 percent to 4,461.90, while the Dow edged down 17.73 points or 0.1 percent to 34,645.99.

On the economic front, the Consumer Price Index or CPI for August will be issued at 8.30 am ET. The consensus is for growth of 0.6 percent, while it was up 0.2 percent in the prior month.

Atlanta Fed Business Inflation Expectations for September are scheduled at 10.00 am ET. In the prior month, the year-over-year Inflation Expectations were up 2.5 percent.

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 6.3 million barrels and the gasoline inventories were down 2.7 million barrels.

Thirty-year Treasury Bond Auction will be held at 1.00 pm ET.

The Treasury Statement for August will be announced at 2.00 pm ET. The consensus is for a deficit of $223 billion and in the prior month, the deficit was $220.8 billion.

Asian stocks ended mostly lower on Wednesday. Chinese stocks closed lower. The benchmark Shanghai Composite index dropped 0.45 percent to 3,123.07 while Hong Kong’s Hang Seng index slipped marginally to 18,009.22.

Japanese stocks ended a range-bound session lower. The Nikkei average slipped 0.21 percent to 32,706.52 while the broader Topix index finished marginally lower at 2,378.64.

Australian markets ended lower. The benchmark S&P ASX 200 fell 0.74 percent to 7,153.90 and the broader All Ordinaries index settled 0.77 percent lower at 7,345.70.

European shares are trading lower. CAC 40 of France is down 51.68 points or 0.71 percent. DAX of Germany is declining 121.18 points or 0.77 percent. FTSE 100 of England is declining 27.87 points or 0.37 percent. The Swiss Market Index is declining 51.93 points or 0.47 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.81 percent.

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