Wall Street Set To Open In Higher

The pending home sales may be the highlight on Wednesday. Early signs from the U.S. Futures Index suggest that Wall Street might open positive.

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

As of 7.10 am ET, the Dow futures were up 96.00 points, the S&P 500 futures were adding 9.00 points and the Nasdaq 100 futures were progressing 16.50 points.

The U.S. major averages closed lower on Tuesday. The Nasdaq plunged 144.64 points or 1.4 percent to 10,353.23 and the S&P 500 fell 15.57 points or 0.4 percent to 3,829.25. The Dow inched up 37.63 points or 0.1 percent to 33,241.56.

On the economic front, the National Association of Realtors’ Pending Home Sales Index for November will be issued at 10.00 am ET. The consensus is for a decline of 0.5 percent, while it was down 4.6 percent in the prior month.

The Richmond Fed Manufacturing Index for December will be issued at 10.00 am ET. The consensus is for a decline of 6, while it was down 9 in the previous month.

The State Street Investor Confidence Index for December will be revealed at 10.00 am ET. In the prior month, the Index was up 90.4.

The Survey of Business Uncertainty for December is expected at 11.00 am ET. In the prior month, the sales growth was up 4.69 percent, and the employment growth was up 4.23 percent.

A two-year 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 fell broadly on Wednesday. China’s Shanghai Composite index slipped 0.26 percent to 3,087.40.

Hong Kong’s Hang Seng index rallied 1.56 percent to 19,898.91.

Japanese markets ended lower. The Nikkei average slid 0.41 percent to 26,340.50 while the broader Topix index finished marginally lower at 1,909.02.

Australian stocks posted modest losses. The benchmark S&P/ASX 200 dropped 0.30 percent to 7,086.40. The broader All Ordinaries index ended 0.35 percent lower at 7,262.20.

European shares are trading higher. CAC 40 of France is gaining 16.48 points or 0.25 percent. DAX of Germany is progressing 14.91 points or 0.11 percent. FTSE 100 of England is adding 70.87 points or 0.95 percent. The Swiss Market Index is up 14.52 points or 0.13 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.15 percent.

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