After ending the previous session firmly in negative territory, stocks may regain some ground in early trading on Wednesday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 62 points.
Traders may look to pick up stocks at somewhat reduced levels following yesterday's weakness, which was triggered by a negative reaction to the Bank of Japan's latest monetary policy decision and escalating riots in Turkey.
Nonetheless, trading activity is likely to remain relatively subdued amid another quiet day on the U.S. economic front.
The economic calendar will finally pick up in the last two days of the week, with traders likely to keep a close eye on reports on retail sales, weekly jobless claims, and industrial production.
Trading could be impacted by the release of the Energy Department's report on oil inventories in the week ended June 7th.
Crude oil stockpiles fell by 6.3 million barrels to 391.3 million barrels in the week ended May 31st. Nevertheless, inventories were well above the upper limit of the average range.
The Treasury Department is also scheduled to release the results of its auction of $21 billion worth of ten-year notes later in the day.
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