Wall Street To Bounce Back Moderately At Open

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Trading on Wednesday may be impacted by reaction to the minutes of the latest Federal Reserve meeting and a report on Consumer Price Inflation.

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

Asian shares finished mixed, while European shares are trading mostly up.

As of 7.35 am ET, the Dow futures were up 30.00 points, the S&P 500 futures were adding 7.00 points and the Nasdaq 100 futures were progressing 59.50 points.

U.S. stocks ended lower for the third consecutive session on Tuesday. The Dow dipped 117.72 points or 0.3 percent to 34,378.34, the Nasdaq edged down 20.28 points or 0.1 percent to 14,465.93 and the S&P 500 slipped 10.54 points or 0.2 percent to 4,350.65.

On the economic front, the Labor Department's Consumer Price Index for September is scheduled at 8.30 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.3 percent in the previous month.

Atlanta Fed Business Inflation Expectations for October will be issued at 10.00 am ET. In the prior month, the Expectations were up 3.1 percent.

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

The Federal Open Market Committee or FOMC minutes is scheduled at 2.00 pm ET.

The Treasury Department's monthly account for September is expected at 2.00 pm ET.

The consensus is for a deficit of $130.1 billion, while it was down $170.6 billion in the prior month.

Federal Reserve Board Governor Lael Brainard to speak on Engaging Tribal Leaders on Financial Inclusion and the Economic Challenges of the Pandemic before hybrid virtual Fed Listens: Roundtable with Oklahoma Tribal Leaders at 3.30 pm ET.

Federal Reserve Board Governor Michelle Bowman to speak on Monetary Policy Making and the Economic Outlook before the Dykhouse Scholar Program Speakers Series in Money, Banking, and Regulation at 8.00 pm ET.

Asian stocks ended mixed on Wednesday. Chinese shares fluctuated before closing higher. The benchmark Shanghai Composite index rose 14.83 points, or 0.42 percent, to 3,561.76. Trading in Hong Kong was suspended as a typhoon passed south of the city.

Japanese shares ended a tad lower. The Nikkei average dipped 90.33 points, or 0.32 percent, to 28,140.28, while the broader Topix index closed 0.45 percent lower at 1,973.83.

Australian markets fell for a third consecutive session. The benchmark S&P/ASX 200 slipped 8.20 points, or 0.11 percent, to 7,272.50 while the broader All Ordinaries index ended marginally lower at 7,571.90.

as investors waited to see how companies are coping with price increases.

A downward revision in global growth forecast by the IMF and expectations that the Fed could begin scaling back asset purchases as early as next month also weighed on markets.

The Dow dipped 0.3 percent, the tech-heavy Composite slipped 0.1 percent and the S&P 500 eased 0.2 percent.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 14.13 points or 0.22 percent. The German DAX is adding 114.26 points or 0.75 percent, the U.K. FTSE 100 Index is sliding 5.33 points or 0.07 percent.

The Swiss Market Index is adding 22.90 points or 0.19 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.56 percent.

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