Retail Sales, Import and Export Prices, and Industrial Production are the major economic announcements on Wednesday.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mostly down, while European shares are trading in negative territory.
Geopolitical developments are keenly observed by investors, especially the Russia-Ukraine war, the rocket attack in Poland, and the G20 meeting in Bali. President Joe Biden has said it is unlikely that the rocket was fired from Russia, while Poland said there is no sign of an intentional attack that killed two persons.
Meanwhile, Donald Trump officially entered the run for 2024 Presidential race.
The UK inflation rates hit a 41-year high.
As of 7.05 am ET, the Dow futures were down 27.00 points, the S&P 500 futures were adding 5.00 points and the Nasdaq 100 futures were sliding 27.25 points.
The U.S. major average finished Tuesday higher. The tech-heavy Nasdaq jumped 162.19 points or 1.5 percent to a nearly two-month closing high of 11,358.41 percent, while the S&P 500 advanced 34.48 points or 0.9 percent to 3,991.73.
Meanwhile, the narrower Dow inched up 56.22 points or 0.2 percent to 33,592.92 after surging 450 points in early trading to its best intraday level in almost three months.
On the economic front, the Commerce Department’s Retail Sales for October will be released at 8.30 am ET. The consensus is for an increase 1.0 percent, while it was 0.0 percent last year.
Import and Export Prices for October will be published at 8.30 am ET. The consensus for import price is a decline of 0.4 percent, while it was down 1.2 percent. Export price is expected to be down 0.2 percent, while it was down 0.8 percent in September.
Industrial Production for October will be published at 9.15 am ET. The consensus is for a growth of 0.2 percent, while it was up 0.4 percent in the prior month.
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 up 3.9 million barrels and the Gasoline Inventories were down 0.9 million barrels.
Treasury International Capital for September will be issued at 4.00 pm ET. In the prior month, the Net long-term Securities Transactions were up $197.9 billion.
Asian stocks ended lower on Wednesday. China’s Shanghai Composite index dropped 0.45 percent to 3,119.98. Hong Kong’s Hang Seng index fell 0.47 percent to 18,256.48.
Japanese shares edged up slightly. Nikkei 225 gained 38.13 points or 0.14 percent while the broader Topix index finished marginally lower at 1,963.29.
Australian shares ended lower for a third straight session. The benchmark S&P ASX 200 dipped 0.27 percent to 7,122.20. The broader All Ordinaries index fell 0.25 percent to 7,327.40.
European shares are trading lower. CAC 40 of France is down 28.93 points or 0.44 percent. DAX of Germany is declining 116.72 points or 0.82 percent. FTSE 100 of England is sliding 2.50 points or 0.04 percent. The Swiss Market Index is down 77.48 points or 0.70 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.52 percent.
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