Wall Street Aims To Open Higher

Reactions to reports on private sector employment and service sector activity in the month of July might be the highlight on Wednesday.

Activision Blizzard (ATVI), Amgen (AMGN), Avis Budget (CAR), Live Nation (LYV), Lyft (LYFT), and Prudential (PRU) are among the companies releasing their quarterly results after the close of today’s trading.

Early cues from the U.S. Futures Index suggest that Wall Street might open positive.
Asian shares finished mixed, while European shares are trading up.

As of 7.55 am ET, the Dow futures were up 238.00 points, the S&P 500 futures were adding 30.25 points and the Nasdaq 100 futures were progressing 89.00 points.

The U.S. major averages saw further upside on Tuesday, finishing the day at their best levels of the session. The Dow advanced 278.24 points or 0.8 percent to 35,116.40, the Nasdaq rose 80.23 points or 0.6 percent to 14,761.30 and the S&P 500 climbed 35.99 points or 0.8 percent to 4,423.15.

On the economic front, the ADP Employment Report for July will be released at 8.15 am ET. The consensus is for 700,000, while it was up 692,000 in the prior month.

The U.S. Treasury Refunding Announcement will be issued at 8.30 am ET.
HIS Markit’s PMI Composite Final for July will be published at 9.45 am ET. The consensus is for 59.7, while it was 63.7 in the previous month.

Institute for Supply Management or ISM’s Service Index for July will be revealed at 10.00 am ET. The consensus is for 60.4, while it was up 60.1 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 4.1 million barrels, while gasoline inventories were down 2.3 million barrels.

A three-year, 10-year Treasury Note auction will be held at 11.00 am ET. 30-year Treasury Bond announcement will be at 11.00 am ET.

Asian stocks rose broadly on Wednesday. Chinese shares advanced. The survey also said its composite index improved to 53.1 from 50.6 in June. The benchmark Shanghai Composite index ended up 29.23 points, or 0.85 percent, at 3,477.22.

Hong Kong’s Hang Seng index jumped 231.73 points, or 0.88 percent, to 26,426.76. Investors shrugged off survey results showing that Hong Kong’s private sector expanded at a slower pace in July.

Japanese shares edged lower. The Nikkei average dropped 57.75 points, or 0.21 percent, to 27,584.08 while the broader Topix index closed half a percent lower at 1,921.43.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 index edged up 28.70 points, or 0.38 percent, to 7,503.20 while the broader All Ordinaries index ended up 28.20 points, or 0.36 percent, to 7,778.70.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 28.94 points or 0.43 percent. The German DAX is adding 120.65 points or 0.78 percent, the U.K. FTSE 100 Index is gaining 32.99 points or 0.44 percent.

The Swiss Market Index is adding 38.34 points or 0.32 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.61 percent.

Source: Read Full Article