Wall Street Might Open Significantly Up

wallstreet oct26 29mar23 lt

As there are not many economic announcements, the Pending Home Sales might get special attention on Wednesday.

Early trends on the U.S. Futures Index suggest that Wall Street might open significantly up.

Asian shares finished positive, while European shares are trading higher.

As of 7.35 am ET, the Dow futures were up 238.00 points, the S&P 500 futures were adding 33.75 points and the Nasdaq 100 futures were progressing 107.25 points.

The U.S. major averages were in the red at the close on Tuesday. The tech-heavy Nasdaq fell 52.76 points or 0.5 percent to 11,716.08, the S&P 500 dipped 6.26 points or 0.2 percent to 3,971.27 and the Dow edged down 37.83 points or 0.1 percent to 32,394.25.

On the economic front, the National Association of Realtors' Pending Home Sales Index for February will be released at 10.00 am ET. The consensus is 1.0 percent, while it was up 8.1 percent in the prior month.

The State Street Investor Confidence Index for March will be published at 10.00 am ET. In the prior month, the Index was at 77.5.

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 1.1 million barrels, and the Gasoline Inventories were down 6.4 million barrels.

A Survey of Business Uncertainty for March will be issued at 11.00 am ET. In the prior month, the Sales Growth was 4.08 percent. The Employment Growth was 4.29 percent.

Two-year Treasury Floating Rate Note or FRN Auction will be held at 11.30 am ET.
Seven-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks ended Wednesday's session on a mixed note. Chinese shares finished slightly lower. The benchmark Shanghai Composite index slipped 0.16 percent to 3,240.06.

Hong Kong markets gained today. The benchmark Hang Seng index settled up 2.06 percent at 20,192.40.

Japanese shares closed sharply higher. The Nikkei average climbed 1.33 percent to 27,883.78. The broader Topix index settled 1.46 percent higher at 1,995.48.

Australian markets ended slightly higher. The benchmark S&P/ASX 200 rose 0.23 percent, to 7,050.30. The broader All Ordinaries index closed 0.23 percent higher at 7,236.

European shares are trading higher. CAC 40 of France is progressing 88.77 points or 1.25 percent. DAX of Germany is adding 141.71 points or 0.94 percent. FTSE 100 of England is progressing 60.17 points or 0.81 percent. The Swiss Market Index is up 88.61 points or 0.82 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.13 percent.

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