Futures Signal Moderately Higher Open For Wall Street

(RTTNews) - Initial trends from the U.S. Futures Index suggest that Wall Street might open slightly positive on Wednesday.

In the Asian trading session, the dollar held near a 13-month high, while spot gold fell nearly 1 percent below $4,100 an ounce. Oil prices held near four-month lows.

As of 7.55 am ET, the Dow futures were up 84.00 points, the S&P 500 futures were adding 24.00 points and the Nasdaq 100 futures were progressing 183.50 points.

The U.S. major averages all ended Tuesday in negative territory. The Nasdaq plunged 579.56 points or 2.2 percent to 25,587.04, the S&P 500 tumbled 107.33 points or 1.4 percent to 7,365.46 and the Dow edged down 45.87 points or 0.1 percent to 51,666.84.

GDP and Jobless Claims will be issued at 8.30 am ET on Thursday.

On the economic front, the Commerce Department's Current Account for the first quarter is expected at 8.30 am ET. The consensus is for a deficit of $227 billion, while the deficit in the prior quarter was $190.7 billion.

The New Home Sales for May will be issued at 10.00 am ET. The consensus is 640K, while it was up 622K in the prior month.

The Energy Information Administration or EIA's Petroleum Status Report for the week will be revealed at 10.30 am ET. In the prior week, the crude oil inventories were down 8.3 million barrels, while gasoline inventories were down 0.9 million barrels.

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

Asian stocks ended mixed. China's Shanghai Composite index edged up by 0.11 percent to 4,110.81. Hong Kong's Hang Seng index closed 0.33 percent higher at 23,412.18.

Japanese markets fell notably. The Nikkei average fell 0.88 percent to 69,174.97 while the broader Topix index closed down 0.67 percent at 3,963.76.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 edged up by 0.24 percent to 8,808.40 while the broader All Ordinaries index settled 0.27 percent higher at 9,012.60.