Wall Street Might Open Lower As Russia Goes Ahead With Strikes

Early signs from the U.S. Futures Index suggest that Wall Street might open on a negative note on Wednesday. Though Russia had claimed to reduce attacks after mutual discussions, strikes on Ukraine are continuing.

Investors are keen on the developments there and the upcoming sanctions mooted by the U.S. and other major allies.

As of 8.30 am ET, the Dow futures were declining 96.00 points, the S&P 500 futures were adding 30.25 points and the Nasdaq 100 futures were progressing 89.00 points.

The U.S. stocks posted strong gains on Tuesday. The Dow closed with a gain of 338.30 points or 0.97 percent at 35,294.19. The S&P 500 closed higher by 56.08 points or 1.23 percent at 4,631.60, and the Nasdaq settled at 14,619.64 with a gain of 264.73 points or 1.84%.

On the economic front, Automatic Data Processing or ADP’s Employment Report for March will be published at 8.15 am ET. The consensus is for 438,000, while it was up 486,000 in the prior month.

Gross Domestic Product or GDP for the fourth quarter will be issued at 8.30 am ET. The consensus is for 7.1 percent while it was up 7.0 percent in the prior quarter.

The Corporate Profits for the fourth quarter are expected at 8.30 am ET. In the prior quarter, the year over year after the tax was up 26.7 percent.

The State Street Investor Confidence Index for March will be released at 10.00 am ET. In the prior month, the Index was at 103.9.

The Energy Information Administration or EIA’s Petroleum Status Report for the week is scheduled at 10.30 am ET. In the prior week, the crude oil inventories were down 2.5 million barrels, and the gasoline inventories were down 2.9 million barrels.

The Survey of Business Uncertainty report for March will be published at 11.00 am ET. In the prior month, the sales growth was 4.31 percent.

Richmond Federal Reserve Bank President Thomas Barkin will give the opening remarks in the Rural America Conference hosted by the Federal Reserve Bank of Richmond at 9.15 am ET.

Kansas City Federal Reserve Bank President Esther George will speak at the Economic Club of New York at 1.00 pm ET.

Asian stocks rose higher on Wednesday. Chinese shares led regional gains. The benchmark Shanghai Composite index climbed 1.96 percent to close at 3,266.60. Hong Kong’s Hang Seng index rallied 1.39 percent to finish at 22,232.03.

Japanese shares bucked the regional trend to end lower. The Nikkei average fell 225 points, or 0.80 percent, to settle at 28,027.25.

Australian markets rose for the seventh straight session. The benchmark S&P/ASX 200 closed 0.67 percent higher at 7,514.50.

European shares are trading broadly lower. CAC 40 of France is adding 175.16 points or 2.67 percent. DAX of Germany is sliding 224.47 points or 1.50 percent. FTSE 100 of England is progressing 5.33 points or 0.07 percent. Swiss Market Index is declining 43.65 points or 0.36 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.06 percent.

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