Wall Street Might Open Broadly Lower

(RTTNews) - Initial cues from the U.S. Futures Index suggest that Wall Street might open broadly down.

Investors are watching the next move of U.S. President Donald Trump, who has hinted about higher tariffs on certain countries after the July 9 deadline.

In the Asian trading session, the U.S. dollar held near 3-1/2-year, while gold edged down. Oil prices held steady.

Asian shares finished broadly down, while European shares are mostly higher.

As of 8.15 am ET, the Dow futures were gaining 33.00 points, the S&P 500 futures were declining 0.25 points and the Nasdaq 100 futures were tumbling 27.75 points.

The U.S. major averages finished broadly lower on Tuesday. The Dow jumped 400.17 points or 0.9 percent to 44,494.94, but the S&P 500 edged down 6.94 points or 0.1 percent to 6,198.01 and the Nasdaq slid 166.84 points or 0.8 percent to 20,202.89.

On the economic front, the ADP Employment Report for June will be issued at 8.15 am ET. The consensus is 103,000, while it was up 37,000 in the prior month.

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 5.8 million barrels and the Gasoline Inventories were down 2.1 million barrels.

Speaking to reporters aboard Air Force One, Trump criticized Japan's reluctance to accept imports of U.S. rice, as well as the imbalance in auto trade between the two countries.

Asian stocks ended mostly lower on Wednesday. China's Shanghai Composite finished marginally lower at 3,454.79 as tech shares fell amid ongoing global trade tensions. Hong Kong's Hang Seng index rose 0.62 percent to 24,221.41 as traders returned from a holiday.

Japanese markets ended lower after Trump criticized Japan's trade policies and threatened to raise import tariffs on the country to 30 or 35 percent.

The Nikkei average fell 0.56 percent to 39,762.48 while the broader Topix index settled 0.21 percent lower at 2,826.04.

Australian markets advanced. The benchmark S&P/ASX 200 rose 0.66 percent to 8,597.70 while the broader All Ordinaries index ended 0.65 percent higher at 8,828.70.

European shares are broadly up. CAC 40 of France is adding 67.22 points or 0.88 percent. DAX of Germany is at 0.00 points or 0.00 percent. FTSE 100 of England is declining 23.57 points or 0.27 percent. The Swiss Market Index is gaining 36.01 points or 0.30 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.44 percent.