Wall Street Targets To Open Moderately Lower

FOMC minutes and the Private sector employment report might be the highlight Wednesday.

Asian shares finished lower, while European shares are trading mostly down.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

As of 7.45 am ET, the Dow futures were down 20.00 points, the S&P 500 futures were sliding 6.50 points and the Nasdaq 100 futures were down 72.50 points.

The U.S. major stock indexes turned starkly mixed on Tuesday. The Dow ended the session off its best levels of the day but still closed up 214.59 points or 0.6 percent at 36,799.65. Meanwhile, the Nasdaq tumbled 210.08 points or 1.3 percent to 15,622.72 and the S&P 500 edged down 3.02 points or 0.1 percent to 4,793.54 after reaching a record intraday high.

On the economic front, Automatic Data Processing or ADP’s Employment Report for December will be published at 8.15 am ET. The consensus is for 414,000, while it was up 534,000 in the prior month.

IHS Markit’s Purchasing Managers’ Index or PMI Composite Final for December is expected at 9.45 am ET. The consensus is 56.9.

The Energy Information Administration or EIA’s Petroleum Status Report for week will be issued at 10.30 am ET. In the prior week, the Crude oil inventories were down 3.6 million barrels, and the Gasoline inventories were down 1.5 million barrels.

The Federal Open Market Committee or FOMC Minutes will be published at 2.00 pm ET.

Asian stocks ended mostly lower on Wednesday. China’s Shanghai Composite index fell 37.15 points, or 1.02 percent, to 3,595.18.

Hong Kong’s Hang Seng index slumped 382.59 points, or 1.64 percent, to 22,907.25.

Japanese shares ended flat with a positive bias. The Nikkei average edged up 30.37 points, or 0.10 percent, to 29,332.16. The broader Topix index rose 9.05 points, or 0.45 percent, to 2,039.27.

Australian shares gave up early gains to end slightly lower for the day.

The benchmark S&P/ASX 200 index dipped 24 points, or 0.32 percent, to 7,565.80 while the broader All Ordinaries index ended down 27.20 points, or 0.34 percent, at 7,899.60.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 44.68 points or 0.61 percent. The German DAX is adding 126.47 points or 0.78 percent, the U.K. FTSE 100 Index is gaining 13/94 points or 0.19 percent.

The Swiss Market Index is losing 9.94 points or 0.08 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.54 percent.

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