Wall Street Might Open Significantly Higher

(RTTNews) - Positive earnings from Bank of America might be lifting investor sentiments on Wednesday. Remarks by Fed officials might get attention.

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

Early trends on the U.S. Futures Index suggest that Wall Street might open positive.

As of 8.15 am ET, the Dow futures were progressing 231.00 points, the S&P 500 futures were up 48.50 points and the Nasdaq 100 futures were gaining 236.50 points.

The U.S. major averages ended mixed on Tuesday. The Dow climbed 202.88 points or 0.4 percent to 46,270.46 after plunging more than 600 points in early trading, the S&P 500 dipped 10.41 points or 0.2 percent to 6,644.31 and the Nasdaq slid 172.91 points or 0.8 percent to 22,521.70.

On the economic front, the Empire State Manufacturing Index for October will be issued at 8.30 am ET. The consensus is for minus 0.9, while it was minus 8.7 in the previous month.

The Beige Book, published tow weeks before the FOMC policy meeting is scheduled at 2.00 pm ET.

Fed Governor Stephen Miran will participate in conversation before the CNBC Invest in America Forum at 9.30 am ET.

Atlanta Fed President Raphael Bostic will participate in moderated conversation and Q&A on 'Economic Mobility' before the United Way Regional Summit on Economic Mobility for Children and Youth at 12.10 pm ET.

Fed Governor Stephen Miran participates in conversation before the Nomura Research Forum at 12.30 pm ET.

Fed Governor Christopher Waller will speak on artificial intelligence before the 2025 DC Fintech Week event at 1.00 pm ET.

Kansas City Fed President Jeffrey Schmid will speak on monetary policy, the outlook and the Federal Reserve at event hosted by the Federal Reserve Bank of Kansas City's Omaha branch at 1.35 pm ET.

Asian stocks rose broadly on Wednesday. Chinese markets were sharply higher. The benchmark Shanghai Composite index climbed 1.22 percent to 3,912.21 while Hong Kong's Hang Seng index surged 1.84 percent to 25,910.60.

Japanese markets gained. The Nikkei average rallied 1.76 percent to 47,672.67. The broader Topix index settled 1.58 percent higher at 3,183.64.

Australian markets rose the most in two weeks. The benchmark S&P/ASX 200 rose 1.03 percent to 8,990.90 while the broader All Ordinaries index closed up 0.98 percent at 9,299.

In the Asian trading session, the dollar held losses. Gold hit a new peak above $4,200 per ounce while oil hovered near five-month lows.