Futures Point To Broadly Higher Open For Wall Street

Early signs from the U.S. Futures Index suggest that Wall Street might open mostly positive. Investors are keeping an eye on the spread of new variants of COVID-19 and political volatility.

Reaction to earnings reports might drive trading on Wednesday.

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

Netflix (NFLX), United Airlines (UAL) Intuitive Surgical (ISRG) and Chipotle Mexican Grill (CMG) will be releasing their quarterly results after the close of today’s trading.

As of 7.50 am ET, the Dow futures were adding 79.00 points, the S&P 500 futures were gaining 3.25 points and the Nasdaq 100 futures were sliding 47.50 points.

The U.S. major averages closed strong on Tuesday. The Dow spiked 549.95 points or 1.6 percent to 34,511.99, the Nasdaq surged up 223.89 points or 1.6 percent to 14,498.88 and the S&P 500 jumped 64.57 points or 1.5 percent to 4,323.06.

On the economic front, the Energy Information Administration or EIA’s Petroleum Status Report for the week will be released at 10.30 am ET. In the prior week, the crude oil inventories were down 7.9 million barrels and the gasoline inventories were up 1.0 million barrels.

A twenty-year Treasury bond auction will be held at 1.00 pm ET.

Asian stocks ended mixed on Wednesday. Chinese shares gained on the day. The benchmark Shanghai Composite index rose 25.87 points, or 0.73 percent, to 3,562.66, while Hong Kong’s Hang Seng index dipped 0.13 percent to 27,224.58.

Japanese shares rose to snap a five-day losing streak. The Nikkei average edged up 159.84 points, or 0.58 percent, to 27,548. The broader Topix index closed 0.82 percent higher at 1,904.41.

Australian markets rose sharply. The benchmark S&P/ASX 200 climbed 56.50 points, or 0.78 percent, to 7,308.70 after two straight sessions of losses. The broader All Ordinaries index ended up 55.10 points, or 0.73 percent, at 7,580.90.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 74.64 points or 1.18 percent. The German DAX is losing 103.21 points or 0.69 percent, the U.K. FTSE 100 Index is gaining 107.18 points or 1.55 percent.

The Swiss Market Index is adding 62.60 points or 0.52 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.17 percent.

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