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Wall Street Poised To Open Positive


Early signs from the U.S. Futures Index point to a moderately positive open on Wednesday.

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

Investors are awaiting cues from the G-20 summit this week. Geopolitical developments and U.S. - China trade tariff are also under the scanner.

Durable Good Orders for May and International Trade in Good data are the important data on economic sector.

As of 7.55 am ET, the Dow futures were gaining 103.00 points, the S&P 500 futures were adding 12.00 points and the Nasdaq 100 futures were up 50.00 points.

Major U.S. averages finished the session just off their worst levels on Tuesday. The Dow slid 179.32 points or 0.7 percent to 26,548.22, the Nasdaq plunged 120.98 points or 1.5 percent to 7,884.72 and the S&P 500 tumbled 27.97 points or 1 percent to 2,917.38.

On the economic front, Durable Goods Orders for May will be issued at 8.30 am ET. The consensus is for a decline of 0.1 percent, while the orders fell 2.1 percent in the previous month.

Census Bureau's International Trade in Goods for May will be released at 8.30 am ET. The consensus is for a deficit of $71.5 billion, while it was down $72.1 billion in the prior month.

Retail Inventories that measure the monthly dollar value of inventories held by retailers will be revealed at 8.30 am ET. In the prior month the change was up 0.5 percent. The Wholesale Inventories is expected at 8.30 am ET. The consensus is for 0.4 percent, while it grew 0.7 percent in the prior month.

The Energy Information Administration or EIA's Petroleum Status Report for the week will be published at 10.30 am ET. In the previous week, the crude oil inventories were down 3.1 million barrels and Gasoline inventories were lower by 1.7 million barrels.

Two year FRN Note auction will be held at 11.30 am ET and the five year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks closed mostly lower on Wednesday. Chinese shares ended lower. The benchmark Shanghai Composite index slid 5.79 points or 0.19 percent to 2,976.28 while Hong Kong's Hang Seng index ended up 0.13 percent at 28,221.98.

Japanese shares fell. The Nikkei average declined 107.22 points or 0.51 percent to 21,086.59 while the broader Topix index ended 0.59 percent lower at 1,534.34.

Australian markets were down slightly as Fed officials played down expectations of aggressive rate cuts. The benchmark S&P/ASX 200 index dropped 17.50 points or 0.26 percent to 6,640.50 while the broader All Ordinaries index ended down 18.40 points or 0.27 percent at 6,716.10.

European shares are trading broadly higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 7.39 points or 0.13 percent, the German DAX is gaining 53.07 points or 0.42 percent, the U.K. FTSE 100 Index is progressing 4.13 points or 0.06 percent. The Swiss Market Index is losing 6.18 points or 0.06 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.20 percent.

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