FX.co ★ U.S. Stocks May Attempt Another Rebound In Early Trading

Stocks are expected to rise in early trading on Wednesday, after a pullback late in the previous day, with S&P 500 futures currently increasing by 0.4 percent. Traders may seek to purchase stocks at slightly lesser prices after early buying interest dwindled during Tuesday's trading session.

Yesterday, the major averages remained mainly positive but declined in the final trading hour, marking the third consecutive day of closing lower for both the Dow and the S&P 500. However, overall trading activity is anticipated to be relatively subdued due to the absence of significant U.S. economic data, which may keep some traders on the bench.

There may be hesitance amongst traders to instigate substantial transactions ahead of Thursday's reports on jobless claims, Chicago business activity, and pending home sales. The Federal Reserve's favorite inflation readings, included in a report on personal income and expenditure, are set to be released when markets are closed on Good Friday.

On Good Friday, Jerome Powell, Federal Reserve Chair, is also scheduled to participate in a moderated discussion at the Federal Reserve Bank of San Francisco Macroeconomics and Monetary Policy Conference.

After witnessing modest strength on Tuesday, stocks weakened in the final trading hour, ending the day on a negative note. The Dow closed down 31.31 points or 0.1 percent at 39,282.33, having risen over 100 points earlier in the session. The Nasdaq fell 68.77 points or 0.4 percent to 16,315.70, and the S&P 500 dipped 14.61 points or 0.3 percent to 5,203.58.

On Wednesday, the Asia-Pacific stock markets gave a mixed performance. Japan's Nikkei 225 Index increased by 0.9 percent, while China's Shanghai Composite Index and Hong Kong's Hang Seng Index fell by 1.3 percent and 1.4 percent, respectively.

Major European markets also showed mixed results. Although the UK's FTSE 100 Index fell by 0.4 percent, the French CAC 40 Index and the German DAX Index increased by 0.3 percent and 0.6 percent, respectively.

In commodity trading, crude oil futures declined $0.50 to $81.12 a barrel, following Tuesday's $0.33 drop to $81.62 a barrel. An ounce of gold is trading at $2,207.90, experiencing a rise of $8.70 from yesterday's closing price of $2,199.20. Gold increased by $1 on Tuesday.

On the currency exchange, the U.S. dollar is trading at 151.25 yen, a decrease from 151.56 yen at the New York trading close on Tuesday. Meanwhile, against the euro, the dollar is trading at $1.0815, compared to $1.0831 on the previous day.