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Futures Point To Lower Open For Wall Street

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President Trump is facing impeachment as the House introduced a resolution. Two-thirds majority is required for a conviction.

Beige Book, Consumer Price Index for December, and Atlanta Fed's Business Inflation Expectations are the major economic announcements on Wednesday.

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

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

As of 7.30 am ET, the Dow futures were losing 58.00 points, the S&P 500 futures were down 10.50 points and the Nasdaq 100 futures were sliding 20.75 points.

The U.S. major Indices closed higher on Monday. The Dow ended the day with a gain of 60 points or 0.19 percent at 31,068.69, after rising to a high of 31,114.56. The S&P 500 edged up 1.58 points or 0.04 percent to settle at 3,801.19, while the Nasdaq closed up by 36 points or 0.28 percent at 13,072.43.

On the economic front, the Consumer Price Index for December will be issued at 8.30 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.2 percent in November.

The Atlanta Fed's Business Inflation Expectations survey report for January will be released at 10.00 am ET. The year over year increase in the prior month was 2.0 percent.

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 down 8.0 million barrels and Gasoline Inventories were up 4.5 million barrels.

30-year Treasury Bond Auction will be held at 1.00 pm ET.

Beige Book produced two weeks before the monetary policy meetings of the Federal Open Market Committee is expected today at 2.00 pm ET.

The U.S. Treasury Statement for December will be published at 2.00 pm ET. The consensus is for a deficit of $195 billion, while the deficit was $145.3 billion a month ago.

St. Louis Federal Reserve Bank President James Bullard will participate in a moderated discussion on the U.S. economy and monetary policy before Reuters Next Virtual Forum Via Zoom at 9.30 am ET.

Federal Reserve Board Governor Lael Brainard will speak on "The Economic Outlook and Full Employment" before the virtual event: Mike McCracken Lecture on Full Employment to the Canadian Association for Business Economics at 1.00 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker to participate in an interview on the economy before the virtual Chamber of Commerce for Greater Philadelphia Economic Outlook '21 at 2.00 pm ET.

Federal Reserve Vice Chair Richard Clarida to participate in a discussion on "The Federal Reserve's New Framework: Context and Consequences," before virtual Hoover Institution Monetary Policy Conference: The Road Ahead for Central Banks at 3.00 pm ET.

Asian stocks turned in a mixed performance on Wednesday. Chinese shares ended lower. The benchmark Shanghai Composite index slid 9.69 points, or 0.27 percent, to 3,598.65, while Hong Kong's Hang Seng index ended down 0.15 percent at 28,235.60.
Japanese shares rose for the fifth day. The Nikkei average climbed 292.25 points, or 1.04 percent, to hit a 30-year high of 28,456.59. The broader Topix index closed 0.35 percent higher at 1,864.40.

Australian markets fluctuated before ending slightly higher for the day. The benchmark S&P/ASX 200 edged up 7.50 points, or 0.11 percent, to 6,686.60, while the broader All Ordinaries index ended up 14.80 points, or 0.21 percent, at 6,953.90.

European shares are trading mostly higher. Among the major indexes in the region, the German DAX is losing 34.93 points or 0.25 percent, the U.K. FTSE 100 Index is declining 13.94 points or 0.21 percent.

The Swiss Market Index is adding 7.48 points or 0.07 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.46 percent.

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