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Futures Point To Lower Open For Wall Street

wallstreet sept12 23jan23 lt

Earnings results might be the focus on Wednesday. IBM, Steel Dynamics, and Tesla will be reporting their quarterly results after the bell.

As the Ukraine war is completing a year, Germany has decided to deliver 14 leopard-2 tanks to fight against the Russian invasion. Meanwhile, the U.S. will be sending 30 Abrams tanks to Ukraine. European and other International Partners have been in talks with Germany to persuade Germany to support war-torn Ukraine.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares were mostly up, while European shares are trading down.

As of 7.10 am ET, the Dow futures were down 195.00 points, the S&P 500 futures were declining 33.00 points and the Nasdaq 100 futures were down 158.75 points.

The U.S. major stocks were broadly down on Tuesday. The tech-heavy Nasdaq fell 30.14 points or 0.3 percent to 11,334.27 after leading the two-day rally. The S&P 500 also edged down 2.86 points or 0.1 percent to 4,016.95, while the Dow rose 104.40 points or 0.3 percent to 33,733.96.

On the economic front, State Street Investor Confidence Index for January will be issued at 10.00 am ET. In the prior year, the Index was up 75.9.

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 up 8.4 million barrels and the gasoline inventories were up 3.5 million barrels.

The Survey of Business Uncertainty for January will be released at 11.00 am ET. In the prior month, the sales growth was 4.45 percent.

Two-year Floating rate note for FRN auction will be held at 11.30 am ET. Five-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks rose broadly on Wednesday. Taiwan, China and Hong Kong were closed.
Japanese stocks ended modestly higher. The Nikkei average inched up 0.35 percent to 27,395.01 while the broader Topix index ended 0.39 percent higher at 1,980.69.

Australian markets were lower at the close. The benchmark S&P/ASX 200 slipped 0.30 percent to 7,468.30 while the broader All Ordinaries index ended down 0.29 percent at 7,688.

European shares are trading lower. CAC 40 of France is down 20.41 points or 0.29 percent. DAX of Germany is declining 51.29 points or 0.34 percent. FTSE 100 of England is down 7.51 points or 0.10 percent. The Swiss Market Index is sliding 52.50 points or 0.46 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.44 percent.

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