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Wall Street Poised To Open Positive


Consumer Price Index might be the highlight on Wednesday after a few quiet days. Earnings report from major corporates also attract investors attention.

Initial cues on U.S. Futures Index points to a higher opening for Wall Street.

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

As of 8.00 am ET, the Dow futures were gaining 74.00 points, the S&P 500 futures were adding 6.50 points and the Nasdaq 100 futures were up 30.25 points.

The major averages finished the day firmly in positive territory. The Dow soared 372.65 points or 1.5 percent to 25,425.76, the Nasdaq jumped 106.71 points or 1.5 percent to 7,414.62 and the S&P 500 surged up 34.93 points or 1.3 percent to 2,744.73.

On the economic front, the Labor Department's Consumer Price Index or CPI for January will be published at 8.30 am ET. The consensus is for an increase of 0.1 percent, versus a decline of 0.1 percent in the prior month.

Cleveland Federal Reserve Bank President Loretta Mester will deliver a speech about economic outlook and monetary policy at the Gatton College of Business and Economics 2019 Economic Outlook Conference in Lexington, KY, with audience Q&A at 8.50 am ET.

The Atlanta Fed's Business Inflation Expectations survey report for February will be published at 10.00 am ET. In the previous month the Inflation Expectations were up 2.0 percent.

The Energy Information Administration or EIA's Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week the crude oil inventories were 1.3 million barrels, while Gasoline inventories were 0.5 million barrels.

Philadelphia Federal Reserve Bank Chairman Patrick Harker will deliver a speech on economic outlook at the Jewish Business Network's Power Lunch in Philadelphia, Pennsylvania, followed by audience Q&A at 12.00 pm ET.

Treasury Budget for December will be released at 2.00 pm ET. The consensus is for a deficit of $11.5 billion, compared to a deficit of $204.9 billion in November.

Asian stocks ended mixed on Wednesday. China's Shanghai Composite Index jumped 49.17 points or 1.8 percent to 2,721.07, while Hong Kong's Hang Seng Index surged up 326.26 points or 1.2 percent to 28,497.59.

Japanese shares rose sharply to hit a nearly two-month high. The Nikkei 225 Index spiked 280.27 points or 1.3 percent to 21,144.48, the highest level since December 17. The broader Topix closed up 1.1 percent at 1,589.33.

Australian stocks gave up early gains to end lower. The benchmark S&P/ASX 200 Index dropped 15.50 points or 0.3 percent to 6,063.60, while the broader All Ordinaries Index edged down 8.50 points or 0.1 percent to 6,140.20.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is adding 20.63 points or 0.39 percent, the German DAX is up 33.00 points or 0.29 percent, the U.K. FTSE 100 Index is progressing 45.71 points or 0.64 percent. The Swiss Market Index is climbing 22.27 points or 0.25 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.34 percent.

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