Futures Suggest Moderately Higher Open For Wall Street

(RTTNews) - Wednesday, investors might be focusing on Earnings as well s the Existing Home Sales for June and Atlanta Fed Business Inflation Expectations for July.

Initial trends on the U.S. Futures Index suggest that Wall Street might open moderately higher.

Asian shares finished mostly up, while European shares are trading positive.

The tariff war concerns are easing after President Donald Trump agreed for 15 percent tariff rate for Japan and 19 percent for Philippines.

In the Asian trading session, gold dipped, while oil climbed on strong U.S. demand.

As of 8.15 am ET, the Dow futures were gaining 232.00 points, the S&P 500 futures were adding 22.50 points and the Nasdaq 100 futures were progressing 18.25 points.

The U.S. major averages finished broadly up. The Nasdaq fell 81.49 points or 0.4 percent to 20,892.69, the S&P 500 inched up 4.02 points or 0.1 percent to 6,309.62 and the Dow climbed 179.37 points or 0.4 percent to 44,502.44.

On the economic front, the Existing Home Sales for June will be released at 10.00 am ET. The consensus is 4.00 million, while it was up 4.03 million in the prior month.

Atlanta Fed Business Inflation Expectations for July will be published at 10.00 am ET. In the prior month, the expectations were up 2.4 percent.

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 3.9 million barrels, while the gasoline inventories were up 3.4 million barrels.

Twenty-year Treasury Bond auction will be held at 1.00 pm ET.

Asian stocks closed mostly higher on Wednesday. China's Shanghai Composite finished marginally higher at 3,582.30.

Hong Kong's Hang Seng index climbed 1.62 percent to 25,538.07.

Japanese markets rallied. The Nikkei average were up 3.51 percent to 41,171.32. The broader Topix index surged 3.18 percent to 2,926.38.

Australian markets closed higher. The benchmark S&P/ASX 200 rose 0.9 percent to 8,737.20. The broader All Ordinaries index settled 0.67 percent higher at 9,001.40.