logo
Plus   Neg
Share
Email

Wall Street To Open Moderately Lower

wallstreet-aug14-lt.jpg

Import Export Prices for July and Inflation reports for August are the highlights on Wednesday. There are many key economic announcements scheduled on tomorrow.

Investors are keenly following the developments in China-USA trade discussions.

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

Initial cues from the U.S. Futures Index suggest that Wall Street might open lower.

As of 7.45 am ET, the Dow futures were down 347.00 points, the S&P 500 futures were declining 38.50 points and the Nasdaq 100 futures were losing 112.75 points.

U.S stocks pulled back off their best levels on Tuesday. The Dow jumped 372.54 points or 1.4 percent to 26,279.91, the Nasdaq soared 152.95 points or 2 percent to 8,016.36 and the S&P 500 surged up 43.23 points or 1.5 percent to 2,926.32.

On the economic front, the Labor Department's Import and Export Prices for July will be published at 8.30 am ET. The consensus is for a decline of 0.1 percent, while it fell 0.9 percent in the prior month.

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

The Energy Information Administration or EIA's Petroleum Status Report for the week will be published at 10.30 am ET. In the prior week the Crude oil inventories were up 2.4 million barrels and Gasoline were up 4.4 million barrels.

Asian stocks finished higher on Wednesday. Chinese shares ended higher. The benchmark Shanghai Composite index gave up much of early gains to end the session up 11.66 points or 0.42 percent at 2,808.91. Hong Kong's Hang Seng index ended on a flat note.

China's industrial production and retail sales grew at weaker pace in July.

Japanese shares rose sharply. The Nikkei average jumped 199.69 points or 0.98 percent to 20,655.13 while the broader Topix index closed 0.87 percent higher at 1,499.50.

Australia's All Ordinaries gained 29.40 points or 0.44 percent to 6,677.50. Australia's consumer confidence strengthened in August.

European shares are trading in the red. France's CAC 40 is declining 74.42 points or 1.39 percent. Germany's DAX is down 175.85 points or 1.50 percent. FTSE 100 of U.K. is lowering by 69.25 points or 0.96 percent. Swiss Market Index is down 70.37 points or 0.72 percent.

Eurozone's leading Blue Chip index,Euro Stoxx 50, is declining 1.48 percent.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT
>