logo
Plus   Neg
Share
Email

Futures Suggest Lower Opening For Wall Street

wallstreet-may15-lt.jpg

Retails Sales and Industrial Production reports for April are the important economic announcements on Wednesday.

Investors continue to have an eye on the developments related to U.S.- China trade talks.

Early cues from the U.S. Futures Index is pointing to a lower opening.

Asian shares finished broadly down, while European shares are trading down.


As of 8.00 am ET, the Dow futures were down 95.00 points, the S&P 500 futures were declining 10.00 points and the Nasdaq 100 futures were slipping 26.75 points.

The U.S. major averages gave back ground going into the close but remained firmly positive on Tuesday. The Dow advanced 207.06 points or 0.8 percent to 25,532.05, the Nasdaq jumped 87.47 points or 1.1 percent to 7,734.49 and the S&P 500 climbed 22.54 points or 0.8 percent to 2,834.41.

On the economic front, the Commerce Department's Retail Sales for April will be published at 8.30 am ET. The consensus is for a growth of 0.2 percent, versus 1.6 percent in the prior month.

Empire State Manufacturing Survey for May will be published at 8.30 am ET. The consensus is for an increase of 9.0, while it grew 10.1 in the previous month.

Fed's Industrial Production for April will be released at 9.15 am ET. The consensus is for no change from the prior month, where the production was down 0.1 percent.

Federal Board of Governors Vice Chairman for Supervision Randal Quarles will give testimony before the Senate Banking Committee in Washington, DC at 9.30 am ET.

Atlanta Fed Business Inflation Expectations for May will be issued at 10.00 am ET. In the prior month, the expectations were up 1.9 percent.

National Association of Home Builders/Wells Fargo's Housing Market Index for May will be published at 10.00 am ET. The consensus is for 64, up from 63 in the prior month.

The Commerce Department's Business Inventories for March will be released at 10.00 am ET. The consensus is for increase of 0.1 percent, while it grew 0.3 percent in the prior month.

The Energy Information Administration or EIA's Petroleum Status Report for the week will be revealed at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 4.0 million barrels and Gasoline Inventories declined 0.6 million barrels.

Richmond Federal Reserve Bank President Tom Barkin will give remarks on 'Sentiment and the Real Economy' at the New York Association for Business Economics in New York, NY, followed by audience Q&A at 1.00 pm ET.

Treasury International Capital data for March will be released at 4.00 pm ET. In February, Foreign Demand for Long-Term U.S. Securities were $51.9 billion.

Asian stocks rebounded from a 3-1/2-month low on Wednesday. Chinese shares posted strong gains. The benchmark Shanghai Composite index jumped 55.07 points or 1.91 percent to 2,938.68 while Hong Kong's Hang Seng index ended up 0.52 percent at 28,268.71.

China's industrial production and retail sales growth eased more-than-expected in April. Annual growth in retail sales eased to 7.2 percent from 8.7 percent a month ago. Sales were expected to expand 8.6 percent.

Japanese shares rose to snap a seven-day losing streak on expectations that Beijing will boost stimulus spending and bank lending to boost slowing growth.

The Nikkei average ended a choppy session up by 121.33 points or 0.58 percent at 21,188.56 while the broader Topix index closed 0.60 percent higher at 1,544.15.

Australian markets advanced in light trade. The benchmark S&P/ASX 200 index climbed 44.30 points or 0.71 percent to 6,284.20 while the broader All Ordinaries index ended up 43.70 points or 0.69 percent at 6,370.90.

European shares are trading down. France's CAC 40 is declining 26.05 points or 0.49 percent. Germany's DAX is down 73.10 points or 0.64 percent. FTSE 100 of U.K. is lowering 63.44 points or 0.85 percent. Swiss Market Index is down 8.84 points or 0.09 percent.

Eurozone's leading Blue Chip index,Euro Stoxx 50, is declining 0.50 percent.

For comments and feedback contact: editorial@rttnews.com

Follow RTT