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Wall Street To Bounce Back Ahead Of JOLTS Report, Fed Talk

wallstreet oct09 lt

Early signs from the U.S. Futures Index is pointing to a positive open for Wall Street, despite negative signals from U.S.-China trade talks. Investors are keenly awaiting the Job Openings report, Wholesale Trade reports and FOMC Minutes. Fed Chairman Jerome Powell's public interaction and his comments might be impacting the market.

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

As of 8.00 am ET, the Dow futures were gaining 201.00 points, the S&P 500 futures were adding 26.75 points and the Nasdaq 100 futures were up 78.00 points.

U.S. stocks slumped on Tuesday. The Nasdaq and the S&P 500 fell to new lows in late-day trading, while the Dow remained off its worst levels. The Dow still lost 313.98 points or 1.2 percent to 26,164.04, the Nasdaq plunged 132.52 points or 1.7 percent to 7,823.78 and the S&P 500 tumbled 45.73 points or 1.6 percent to 2,893.06.

On the economic front, the Bureau of Labor Statistics' JOLTS report for August will be published at 10.00 am ET. The consensus is for 7.186 million, while it was at 7.217 million in the prior month.

The Commerce Department's Wholesale Trade for August will be issued at 10.00 am ET. The consensus is for an increase of 0.4 percent, while it grew 0.2 percent in the prior month.

The Energy Information Administration or EIA's Petroleum Status report for the week will be released at 10.30 am ET. In the prior week, the Crude oil inventories were up 3.1 million barrels, and Gasoline inventories were down 0.2 million barrels.

Federal Reserve Chairman Jerome Powell will co-host a roundtable session with Kansas City Fed President Esther George discussing labor market conditions, local banking and other topics with a group of local businesses and community leaders in Kansas City, Missouri at 11.00 am ET.

Ten-year Treasury Note auction will be held at 1.00 pm ET.

The minutes of the Federal Open Market Committee will be issued at 2.00 pm ET.

Asian stocks fell broadly on Wednesday. Chinese stocks ended higher.
The benchmark Shanghai Composite index rose 11.29 points, or 0.39 percent, to 2,924.86 while Hong Kong's Hang Seng index shed 0.81 percent to close at 25,682.81.
Japanese shares declined. The Nikkei average slid 131.40 points, or 0.61 percent, to 21,456.38 while the broader Topix index closed 0.30 percent lower at 1,581.70.
Australian shares retreated. The benchmark S&P/ASX 200 ended the session down 46.70 points, or 0.71 percent, at 6,546.70 while the broader All Ordinaries index dropped 46.70 points, or 0.70 percent to 6,667.

European shares are trading mostly positive. The CAC 40 Index of France is climbing 49.87 points or 0.91 percent. The German DAX is losing 154.53 points or 1.29 percent, the U.K. FTSE 100 Index is down 51.31 points or 0.72 percent. The Swiss Market Index is declining 48.39 points or 0.49 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.01 percent.

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