Wall Street Targets To Bounce Back

Early cues from the U.S. Futures Index suggest that Wall Street might open positive.
Durable Goods Orders might be the highlight on Wednesday.

Asian shares finished mostly up, while European shares are trading mostly down.

As of 7.45 am ET, the Dow futures were up 83.00 points, the S&P 500 futures were adding 13.25 points and the Nasdaq 100 futures were progressing 41.50 points.

The U.S. major averages posted steep losses on Tuesday. The Dow slumped 388.00 points or 1.1 percent to 33,618.88, the Nasdaq plunged 207.71 points or 1.6 percent to 13,063.61 and the S&P 500 tumbled 63.91 points or 1.5 percent to 4,273.53.

On the economic front, the Durable Goods Orders for August will be published at 8.30 am ET. The new orders consensus is for a decline of 0.3 percent, while it was down 5.2 percent in the prior month.

The State Street Investor Confidence Index for September will be released at 10.00 am ET. In the prior month, the Index was up 107.7.

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 down 2.1 million barrels, and the gasoline inventories are down 0.8 million barrels.

The Survey of Business Uncertainty for September will be issued at 11.00 am ET. In the prior month, the sales growth was up 4.15 percent.

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

Asian stocks ended mixed on Wednesday. China’s Shanghai Composite index edged up 0.16 percent to 3,107.32.

Hong Kong’s Hang Seng index climbed 0.83 percent to 17,611.87. Mainland Chinese markets will be closed from Sept. 29 to Oct. 6.

Japanese markets eked out modest gains. The Nikkei average settled 0.18 percent higher at 32,371.90 while the broader Topix index closed up 0.32 percent at 2,379.53.

Australian markets slipped. The benchmark S&P/ASX 200 dipped 0.11 percent to 7,030.30 while the broader All Ordinaries index ended down 0.12 percent at 7,229.80.

European shares are trading mostly lower. CAC 40 of France is down 6.47 points or 0.09 percent. DAX of Germany is adding 1.20 points or 0.09 percent. FTSE 100 of England is sliding 10.29 points or 0.13 percent. The Swiss Market Index is plummeting 13.85 points or 0.13 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.12 percent.

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