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Futures Point To Higher Opening For Wall Street

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Traders are likely to keep an eye on ADP Employment Report, PMI Services Index as well as ISM Non-Manufacturing Index for November on Wednesday.

Asian shares finished mostly lower on the day. European shares are trading positive.

Early signals from the U.S. Futures Index suggest that Wall Street might open higher.


As of 7.35 am ET, the Dow futures were gaining 156.00 points, the S&P 500 futures were adding 15.00 points and the Nasdaq 100 futures were up 52.25 points.

The U.S. major averages closed lower on Tuesday. The Dow tumbled 280.23 points or 1 percent to 27,502.81. The Nasdaq fell 47.34 points or 0.6 percent to 8,520.64 and the S&P 500 slid 20.67 points or 0.7 percent to 3,093.20.

On the economic front, Automatic Data Processing or ADP Employment Report for November will be published at 8.15 am ET. The consensus is for an increase of 156 thousand compared to 125 thousand in the prior month.

Markit Economics' PMI Services Index for November will be released at 9.45 am ET. The consensus is for an increase of 51.6, slightly higher than 50.6 in the previous month.

Fed Reserve vice chairman Randal Quarles will give a speech at 10.00 am ET.

Institute for Supply Management's Non-Manufacturing Index for November will be issued at 10.00 am ET. The consensus is for 54.5, slightly lower than 54.7 in the prior month.

The Energy Information Administration or EIA's Petroleum Status Report for the week is scheduled at 10.30 am ET. In the prior week, the Crude Oil Inventories were up 1.6 million barrels and Gasoline Inventories were up 5.1 million barrels.

Asian stocks fell on Wednesday. China's Shanghai Composite index slipped 0.23 percent to 2,878.12.

Hong Kong's Hang Seng index fell 1.25 percent to 26,062.56. Hong Kong's private sector continued to contract in November, and at a faster pace, the latest survey from IHH revealed with a 16-year low PMI score of 38.5.

Japanese shares hit two-week low. The Nikkei average ended down 244.58 points, or 1.05 percent, at 23,135.23, while the broader Topix index closed 0.2 percent lower at 1,703.27.

Australian markets fell sharply. The S&P/ASX 200 index tumbled 105.80 points, or 1.58 percent, to 6.606.50. The broader All Ordinaries index slumped 104 points, or 1.53 percent, to 6,714.40.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is adding 76.05 points or 1.33 percent, the German DAX is up 152.19 points or 1.17 percent, the U.K. FTSE 100 Index is progressing 7.34 points or 0.10 percent. The Swiss Market Index is climbing 79.54 points or 0.78 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.81 percent.

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