FX.co ★ Wall Street Might Open In Negative Territory

The primary focus on Wednesday could be the recent quarterly earnings. Initial indications from the U.S. Futures Index suggest a potentially lower opening for Wall Street. While Asian stocks largely ended on a downturn, European stocks are mostly trading on the rise.

As of 8.05 am ET, the Dow futures had decreased by 19.00 points. The futures for S&P 500 and Nasdaq 100 dropped by 10.75 points and 52.00 points, respectively.

On Tuesday, the major U.S. averages experienced slight fluctuations. The Nasdaq fell slightly by 16.69 points (0.1%) to 16,332.56, while the Dow and the S&P 500 saw modest increases; the Dow grew by 31.99 points (0.1%) to 38,884.26 and the S&P 500 by 6.96 points (0.1%) to 5,187.70.

Economic indicators suggest that the Preliminary Wholesale Inventories for March will be down 0.4%, a decrease from the previous month's increase of 0.5%. This data is expected to be released at 10.00 am ET.

The Energy Information Administration's (EIA) Petroleum Status Report is scheduled for 10.30 am ET. In the previous week, crude oil inventories stood at 7.3 million barrels, with gasoline inventories showing a slight increase of 0.3 million barrels.

A 10-year Treasury Note auction is slated for 1.00 pm ET.

Federal Reserve Vice Chair Philip Jefferson will participate in a virtual moderated event, hosted by the Federal Reserve at 11.00 am ET. Furthermore, Boston Fed President Susan Collins is scheduled to participate in a fireside discussion at the Massachusetts Institute of Technology's Sloan School of Management at 11.45 am ET.

In Asia, stocks ended Wednesday's session on a muted note, with Chinese markets falling owing to profit-taking. The Shanghai Composite index saw a decrease of 0.61% to 3,128.48. Similarly, Hong Kong's Hang Seng index ended down by 0.90% at 18,313.86.

Japanese markets suffered the most regional losses, with the Nikkei average diving 1.63% to 38,202.37, and the broader Topix index settling 1.45% lower at 2,706.43.

In contrast, Australian markets ended marginally higher. The benchmark S&P ASX 200 rose slightly by 0.14% to 7,804.50, while the broader All Ordinaries index closed 0.14% higher at 8,076.70.