21.08.2024 14:45:31

Wall Street Set To Open Positive

(RTTNews) - The Minutes of the Fed's July meeting will be the major highlight on Wednesday. Investors are looking ahead to Fed Chair Powell's keynote speech at the Jackson Hole Symposium on Friday.

Early trends on the U.S. Futures Index suggest that Wall Street might open positive.

As of 8.15 am ET, the Dow futures were adding 67.00 points, the S&P 500 futures were up 10.75 points and the Nasdaq 100 futures were gaining 37.00 points.

The U.S. major averages finished Tuesday's session in the red. The Dow dipped 61.56 points or 0.2 percent to 40,834.97, the Nasdaq fell 59.83 points or 0.3 percent to 17,816.94 and the S&P 500 slipped 11.13 points or 0.2 percent to 5,597.12.

On the economic front, the Atlanta Fed Business Inflation Expectations for August will be issued at 10.00 am ET. In the prior month, the expectations were 2.4 percent.

The Quarterly Services Survey for the second quarter will be released at 10.00 am ET. In the prior quarter, the selected services revenue was up 2.3 percent.

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

Twenty year Bond Auction will be held at 1.00 pm ET.

The Federal Open Market Committee or FOMC minutes will be released at 2.00 pm ET.

Asian stocks fluctuated before ending mixed on Wednesday. China's Shanghai Composite Index dropped 0.4 percent to 2,856.58 and Hong Kong's Hang Seng Index fell 0.7 percent to 17,391.01.

E-commerce giant JD.com plummeted 8.7 percent after its biggest shareholder Walmart sold its stake in the firm.

Japanese shares fell slightly as the yen strengthened back to the 145 levels per dollar and data showed the country's balance of trade fell back into the red in July.

The Nikkei 225 Index slipped 0.3 percent to 37,951.80, while the broader Topix Index settled 0.2 percent lower at 2,664.86.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 Index crept up up 0.2 percent to 8,010.50, while the broader All Ordinaries Index gained 0.3 percent to close at 8,234.

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