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Wall Street Aims To Open Lower

wallstreet nov24 lt

Trading on Wednesday might be impacted by a reaction to a slew of data. The weekly jobless claims, durable goods orders, new home sales, and personal income and spending as well as the minutes of the latest Fed meeting will get special attention.

After the close of today's trading, major corporates, including Dell (DELL), Gap (GPS) are HP Inc. (HPQ) will be releasing their quarterly results.

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

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
As of 7.20 am ET, the Dow futures were down 127.00 points, the S&P 500 futures were sliding 15.00 points and the Nasdaq 100 futures were falling 69.25 points.

The U.S. major U.S. stock indexes closed mixed for the fourth consecutive session on Tuesday. The Nasdaq climbed well off its worst levels of the day but still closed down 79.62 points or 0.5 percent at 15,775.14. Meanwhile, the Dow climbed 194.55 points or 0.6 percent to 35,813.80 and the S&P 500 rose 7.76 points or 0.2 percent at 4,690.70.
On the economic front, the Commerce Department's Durable Goods Orders for October will be published at 8.30 am ET. The consensus is for an increase of 0.3 percent, while it was down 0.3 percent in the prior month.

Gross Domestic Product or GDP for the third quarter will be published at 8.30 am ET. The consensus is for an increase of 2.1 percent, while it was up 2.0 percent in the prior quarter.

International Trade in Goods (Advance) for October will be released at 8.30 am ET. The consensus is for a deficit of $94.6 billion, while it was down $96.3 billion last month.

The Labor Department's Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is for 264K, while it was up 268K in the prior week.

Corporate Profits for the third quarter will be revealed at 8.30 am ET. In the prior quarter, the After Tax was up 70.5 percent.

Retail Inventories for October are expected at 8.30 am ET. In the prior month, the inventories were down 0.2 percent. Wholesale Inventories for October are scheduled at 8.30 am ET. The consensus is for an increase of 0.8 percent, while it was up 1.1 percent.

New Home Sales for October will be published at 10.00 am ET. The consensus is for an increase of 790K, while it was at 800K in September.

The Commerce Department's Personal Income and Outlays for October will be issued at 10.00 am ET. The consensus is for an increase of 0.2 percent, while it was down 1.0 percent.

The University of Michigan's Consumer Sentiment for November will be released at 10.00 am ET. The consensus is for 66.9, while it was up 66.8 in the prior month.
The State Street Investor Confidence Index for November will be issued at 10.00 am ET. In the prior month, the Index was at 114.4.

The Energy Information Administration or EIA's Petroleum Status Report for the week is expected at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 2.1 million barrels, and Gasoline Inventories were down 0.7 million barrels. EIA's Natural Gas report will be released at 12.00 pm ET. In the prior week, the gas stock was at 12.00 pm ET.

The Baker Hughes Rig Count for the week will be revealed at 1.00 pm ET. In the prior week, the North America Rig Count was 730 and the U.S. Rig Count was at 563.

The Federal Open Market Committee or FOMC minutes will be published at 2.00 pm ET.
Asian stocks ended on a muted note Wednesday. Chinese and Hong Kong shares ended higher.

China's Shanghai Composite index ended up 3.61 points, or 0.10 percent, at 3,592.70 while Hong Kong's Hang Seng index edged up 33.92 points, or 0.14 percent, to 24,685.50.

Japanese shares tumbled as growth-oriented stocks came under selling pressure. The Nikkei average fell 471.45 points, or 1.58 percent, to 29,302.66 while the broader Topix index closed 1.16 percent lower at 2,019.12.

Australian markets ended a choppy session slightly lower. The benchmark S&P/ASX 200 index slipped 11.20 points, or 0.15 percent, to 7,399.40 while the broader All Ordinaries index ended down 16.20 points, or 0.21 percent, at 7,725.50.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 13.08 points or 0.19 percent. The German DAX is losing 100.38 points or 0.63 percent, the U.K. FTSE 100 Index is gaining 5.24 points or 0.08 percent.

The Swiss Market Index is adding 28.88 points or 0.23 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.26 percent.

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