Futures Point To Lower Open For Wall Street

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Earnings and geo-political developments are the major highlights on Wednesday.

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

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

As of 7.10 am ET, the Dow futures were down 94.00 points, the S&P 500 futures were declining 12.25 points and the Nasdaq 100 futures were sliding 8.75 points.

The U.S. major averages all ended with impressive gains on Tuesday. The Dow ended higher by 265.67 points or 0.78 percent at 34,156.69. The S&P 500 closed up 52.92 points or 1.29 percent at 4,164.00, while the Nasdaq climbed 226.34 points or 1.9 percent to 12,113.79.

On the economic front, New York Federal Reserve Bank President John Williams will participate in a moderated discussion before the Wall Street Journal CFO Network Summit at 9.20 am ET.

The Wholesale Inventories (Preliminary) for December will be published at 10.00 am ET. The consensus is for an increase of 0.1 percent, while it was up 1.0 percent in the previous month.

Atlanta Federal Reserve Bank President Raphael Bostic and Federal Reserve Board Vice Chair for Supervision Michael Barr will participate in the Economic Mobility student conversation hosted by Tougaloo College at 10.00 am ET.

The Energy Information Administration or EIA's Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week, the crude oil inventories were up 4.1 million barrels and the gasoline inventories were up 2.6 million barrels.

Minneapolis Federal Reserve Bank President Neel Kashkari answers questions in person in a town-hall style hybrid Boston Economic Club luncheon at 12.30 pm ET.

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

Federal Reserve Board Governor Lisa Cook will participate in a conversation before the Joint Center for Political and Economic Studies: Voice at the Table Policy Forum at 9.30 am ET.

Federal Reserve Board Governor Christopher Waller will speak on the economic outlook before the 2023 Arkansas State University Agribusiness Conference at 1.45 pm ET.

Asian stocks ended mixed on Wednesday. China's Shanghai Composite index slipped 0.49 percent to 3,232.11 while Hong Kong's Hang Seng index ended marginally lower at 21,283.52.

Japanese stocks ended a tad lower. The Nikkei average shed 0.29 percent to close at 27,606.46. Shares of the companies plunged 5-13 percent. The broader Topix index ended marginally higher at 1,983.97.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 0.35 percent to 7,530.10 while the broader All Ordinaries index closed 0.36 percent higher at 7,740.50.

European shares are trading higher. CAC 40 of France is gaining 34.77 points or 0.49 percent. DAX of Germany is adding 110.69 points or 0.72 percent. FTSE 100 of England is progressing 55.35 points or 0.70 percent. Swiss Market Index is up 91.63 points or 0.82 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.50 percent.

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