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Futures Point To Moderately Higher Open For Wall Street

wallstreet may20 lt

Coronavirus pandemic continues to be a real concern for the investors. As the economic situation is getting low due to the pandemic all the state in the U.S. partially reopened, however daily infections are on a rise.

Trading on Wednesday may be impacted by reaction to the minutes of the Federal Reserve's latest monetary policy meeting.

Initial signs from the U.S. Futures Index suggest that Wall Street might open higher
Asian shares finished mixed, while European shares are trading mixed.

As of 8.20 am ET, the Dow futures were adding 303.00 points, the S&P 500 futures were up 36.00 points and the Nasdaq 100 futures were gaining 102.00 points.

The U.S. major averages ended Tuesday just off their lows of the session. The Dow tumbled 390.51 points or 1.6 percent to 24,206.86, the Nasdaq slid 49.72 points or 0.5 percent to 9,185.10 and the S&P 500 slumped 30.97 points or 1.1 percent to 2,922.94.

On the economic front, the Energy Information Administration or EIA for the week will be issued at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 0.7 million barrels, while Gasoline was down 3.5 million barrels.

Twenty-year Treasury Bond 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.

Atlanta Federal Reserve Bank President Raphael Bostic will speak in a JAXUSA Partnership webinar on the Fed's response to Covid-19, with audience and media 12.00 pm ET.

Asian stocks turned in a mixed performance on Wednesday. The benchmark Shanghai Composite index dropped 14.84 points, or 0.51 percent, to 2,883.74, while Hong Kong's Hang Seng index ended marginally higher at 24,399.95.

Japanese shares rose notably to reach a fresh two-and-a-half month. The Nikkei average climbed 161.70 points, or 0.79 percent, to 20,595.15, while the broader Topix index closed 0.58 percent higher at 1,494.69.

Australian markets ended modestly higher. The benchmark S&P/ASX 200 index edged up 13.50 points, or 0.24 percent, to 5,573, while the broader All Ordinaries index ended up 21.30 points, or 0.38 percent, at 5,680.10.

European shares are trading mixed. Among the major indexes in the region, the CAC 40 Index of France is down 8.13 points or 0.18 percent. The German DAX is gaining 45.77 points or 0.42 percent, the U.K. FTSE 100 Index is progressing 24.25 points or 0.40 percent.

The Swiss Market Index is down 13.28 points or 0.13 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.28 percent.

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