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Wall Street Aims To Open Positive


The initial trend on U.S. Futures Index points to a positive open for Wall Street on Wednesday.

The investors are closely watching the geopolitical developments, especially the Brexit deadlock in U.K. and trade war between U.S. and China.

Asian shares were mostly down, while European shares are trading broadly higher.

Durable Goods Order report and Producer Price Index are the major announcements today that might impact investor sentiments.

As of 7.55 am ET, the Dow futures were up 35.00 points, the S&P 500 futures were climbing 6.25 points and the Nasdaq 100 futures were progressing 24.75 points.

The U.S. stocks ended Tuesday's session mixed. The Dow fell 96.22 points or 0.4 percent to 25,554.66, while the Nasdaq climbed 32.97 points or 0.4 percent to 7,591.03 and the S&P 500 rose 8.22 points or 0.3 percent to 2,791.52.

On the economic front, the Commerce Department's Durable Goods Orders for January will be published at 8.30 am ET. The consensus is for a decline of 0.8 percent, compared to increase of 1.2 percent in the prior month.

The Labor Department's Producer Price Index or PPI Final Demand for February will be released at 8.30 am ET. The consensus is for increase of 0.2 percent versus decline of 0.1 percent in the prior month.

The Atlanta Fed's Business Inflation Expectations survey report for March will be issued at 10.00 am ET. In February the inflation expectations were up 1.9 percent.

The Commerce Department's Construction Spending for January will be released at 10.00 am ET. The consensus is for an increase of 0.3 percent, while it declined 0.6 percent in the previous month.

The e-Commerce Retail Sales report for the fourth quarter is scheduled at 10.00 am ET. In the prior quarter the sales were up 3.1 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 up 7.1 million barrels and gasoline inventories were declined 4.2 million barrels.

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

Asian stocks fell broadly on Wednesday. Chinese shares tumbled. The benchmark Shanghai Composite index dropped 33.36 points or 1.09 percent to 3,026.95 while Hong Kong's Hang Seng index ended down 0.39 percent at 28,807.45.

Japanese shares ended sharply lower. The Nikkei average fell 213.45 points or 0.99 percent to 21,290.24 after rallying 1.8 percent in the previous session. The broader Topix index closed 0.84 percent lower at 1,592.07.

Australian markets fell for the fourth session in a row. The benchmark S&P/ASX 200 index dropped 13.60 points or 0.22 percent to 6,161.20 while the broader All Ordinaries index ended down 14.60 points or 0.23 percent at 6,246.

European shares are progressing broadly. France's CAC 40 is climbing 19.70 points or 0.38 percent. Germany's DAX is down 2.19 points or 0.02 percent. FTSE 100 of U.K. is adding 3.76 points or 0.05 percent. Swiss Market Index is up 23.72 points or 0.26 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is progressing 0.29 percent.

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