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Wall Street Aims To Open Broadly Higher

wallstreet oct12 lt

On a quiet day of economic announcements, investors are keen on the job openings report.

Skyrocketing of oil prices is a real concern with the national average of gasoline hit $3.27 a gallon. The global energy crisis might push the prices further. Natural gas prices are also on an upward trend.

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

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

As of 7.50 am ET, the Dow futures were down 5.00 points, the S&P 500 futures were adding 3.00 points and the Nasdaq 100 futures were progressing 34.50 points.

The U.S. major averages ended Monday's session at their worst levels of the day. The Dow slid 250.19 points or 0.7 percent to 34,496.06, the Nasdaq fell 93.34 points or 0.6 percent to 14,486.20 and the S&P 500 dropped 30.15 points or 0.7 percent to 4,361.19.

On the economic front, the Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store Sales were up 16.4 percent.

Bureau of Labor Statistics Job Openings and Labor Turnover Survey or JOLTS for August will be published at 10.00 am ET. The consensus is for 11.01 million, while it was up 10.93 million in the prior month.

Three-year Treasury Note auction will be held at 11.30 am ET, while 10-year Treasury Note auction will be held at 1.00 pm ET.

Federal Reserve Vice Chair Richard Clarida to speak on the U.S. economic outlook and monetary policy before virtual Institute of International Finance Annual Meeting at 11.15 am ET.

Asian stocks retreated on Tuesday. China's Shanghai Composite index fell 44.77 points, or 1.25 percent, to 3,546.94.

Hong Kong shares fell sharply after three days of healthy gains. The benchmark Hang Seng plunged 362.50 points, or 1.43 percent, to 24,962.59, dragged by tech giants.

Japanese shares snapped a three-day winning streak. The Nikkei average ended down 267.59 points, or 0.94 percent, at 28,230.61, while the broader Topix index closed 0.70 percent lower at 1,982.68.

Australian markets extended declines for the second day. The benchmark S&P/ASX 200 index ended down 19.10 points, or 0.26 percent, at 7,280.70. The broader All Ordinaries index slipped 25.50 points, or 0.34 percent, to finish at 7,575.60.

European shares are trading mostly lower on Wednesday. Among the major indexes in the region, the CAC 40 Index of France is declining 37.98 points or 0.58 percent. The German DAX is losing 61.64 points or 0.41 percent, the U.K. FTSE 100 Index is down 36.56 points or 0.51 percent.

The Swiss Market Index is adding 4.77 points or 0.03 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.50 percent.

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