Futures Point To Broadly Lower Open For Wall Street

(RTTNews) - Initial signs from the U.S. major averages suggest that Wall Street might open broadly down on Wednesday.

As of 8.00 am ET, the Dow futures were declining 9.00 points, the S&P 500 futures were sliding 5.50 points and the Nasdaq 100 futures were down 63.75 points.

The U.S. major averages finished higher on Tuesday. The tech-heavy Nasdaq advanced 171.11 points or 0.7 percent to 26,151.80, the S&P 500 climbed 24.42 points or 0.3 percent to 7,677.28 and the Dow rose 160.24 points or 0.3 percent to 53,577.40.

On the economic front, the Durable Goods Orders for Jul will be released at 8.30 am ET. The consensus is 0.5 percent, while it was up 0.3 percent in the prior month.

The Commerce Department's Gross Domestic Product or GDP for the second quarter is scheduled at 8.30 am ET. The consensus is 1.5 percent, while it was up 1.5 percent in the prior quarter.

The Personal Income and Outlays for July will be issued at 8.30 am ET. The consensus is 0.2 percent, while it was up 0.2 percent in the prior month.

The Corporate Profits for the second quarter will be revealed at 8.30 am ET. In the prior quarter, the after tax year over year increase was 11.4 percent.

Retail Inventories (Advance) for July will be released at 8.30 am ET. In the prior month, the month over month increase was 0.0 percent.

Wholesale Inventories (Advance) for July is expected at 8.30 am ET. The consensus is 0.2 percent, while it was up 0.3 percent in the prior month.

The Energy Information Administration or EIA's Petroleum Status Report for the week will be published at 10.30 am ET. In the prior week, the Crude oil inventories were 4.4 million barrels, gasoline inventories were 0.7 million barrels.

Two-year Floating Rate Note or FRN Note auction will be held at 11.30 am ET. Five-year Treasury Note auction will be held at 1.00 pm ET.

Asian shares traded on a positive note on Wednesday. China's Shanghai Composite Index added 23 points or 0.59 percent from the previous close of 3,889.44 to finish trading at 3,912.52. The Hang Seng Index of the Hong Kong Stock Exchange added 142 points or 0.56 percent from the previous close to finish trading at 25,652.97.

The Japanese benchmark Nikkei 225 gained 402 points or 0.61 percent to close trading at 66,258.00.

Australia's S&P/ASX200 closed trading at 9,127.80, losing 37 points or 0.40 percent from the previous close of 9,164.60.