Wall Street Poised To Open Broadly Higher

(RTTNews) - The Federal Reserve's Beige Book, reports on factory orders and job openings might be the focus on Wednesday.

Initial trends on U.S. Futures Index suggest that Wall Street might open broadly positive.

As of 8.15 am ET, the Dow futures were down 24.00 points, the S&P 500 futures were adding 29.25 points and the Nasdaq 100 futures were progressing 167.75 points.

The U.S. major averages finished lower on Tuesday. The Nasdaq slumped 175.92 points or 0.8 percent to 21,279.63. The S&P 500 slid 44.72 points or 0.7 percent to 6,415.54, while the Dow fell 249.07 points or 0.6 percent to 42,295.81.

On the economic front, the Factory Orders for July will be issued at 10.00 am ET. The consensus is down 1.4 percent, while it was down 4.8 percent in the prior month.

The Labor Department's Job Openings and Labor Turnover Survey or JOLTS for July will be released at 10.00 am ET. The consensus is 7.375 million, while it was up 7.437 million in June.

Four Month Treasury Bill auction will be held at 11.30 am ET.

The Beige Book for published at 2.00 pm ET.

St. Louis Fed President Alberto Musalem will participate in conversation on the U.S. economy and monetary policy before the Peterson Institute for International Economics at 9.00 am ET.

Minneapolis Fed President Neel Kashkari will participate in a fireside chat hosted by the Minnesota Women's Economic Roundtable at 1.30 pm ET.

Asian stocks fell broadly on Wednesday. China's Shanghai Composite index ended down 1.16 percent at 3,813.56. Hong Kong's Hang Seng index dropped 0.60 percent to 25,343.43.

Japanese markets ended notably lower. The Nikkei average fell 0.88 percent to 41,938.89. The broader Topix index tumbled 1.07 percent to 3,048.89.

Australian markets declined for the fourth consecutive day. The benchmark S&P/ASX 200 slumped 1.82 percent to 8,738.80. The broader All Ordinaries index settled 1.72 percent lower at 9,010.10.