Wall Street Aims To Open Higher
The consumer price inflation data, and especially the Fed minutes might be the highlight on Wednesday.
Initial trends on the U.S. Futures Index suggest that Wall Street might open higher.
As of 7.55 am ET, the Dow futures were up 88.00 points, the S&P 500 futures were adding 8.25 points and the Nasdaq 100 futures were progressing 29.75 points.
On Tuesday, the Nasdaq rose 52.68 points or 0.3 percent to 16,306.64 and the S&P 500 inched up 7.52 points or 0.1 percent to 5,209.91, the narrower Dow ended the day slightly lower, edging down 9.13 points or less than a tenth of a percent to 38,883.67.
On the economic front, the Consumer Price Index or CPI for March will be released at 8.30 am ET. The consensus is 0.3 percent, while it was up 0.4 percent in the prior month.
The Wholesale Preliminary Inventories for February is scheduled at 10.00 am ET. The consensus is 0.5 percent, while it was minus 0.3 percent in the previous month.
The Energy Information Administration or EIA’s Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week, the crude oil inventories were up 3.2 million barrels and the gasoline inventories were down 4.3 million barrels.
10-year Treasury Note auction will be held at 1.00 pm ET.
The Federal Open Market Committee or FOMC Minutes is scheduled at 2.00 pm ET.
The Treasury Department’s Statement for March will be published at 2.00 pm ET. The consensus is for a deficit of $340 billion, while the deficit was $296.3 billion in February.
Chicago Fed President Austan Goolsbee will participate in panel before the Social Finance Institute at 12.45 pm ET.
Asian stocks ended mixed on Wednesday. China’s Shanghai Composite index fell 0.70 percent to 3,027.34.
Hong Kong’s Hang Seng index jumped 1.85 percent to 17,139.17.
Japanese stocks declined. The Nikkei average dropped 0.48 percent to 39,581.81 while the broader Topix index settled 0.43 percent lower at 2,742.79.
Australian markets eked out modest gains. The benchmark S&P ASX 200 rose 0.31 percent to 7,848.50. The broader All Ordinaries index ended up 0.35 percent at 8,109.70.
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