FX.co ★ Wall Street Poised To Open In Negative Zone

On Wednesday, notable economic indicators such as the U.S. trade deficit, private sector employment, and service sector activity reports will be under focus.

In the Asian trading market, gold prices surged to a new record high, while oil prices continued their downward trajectory.

Early indicators from the U.S. Futures Index suggest that Wall Street could see a lower open.

As of 7:50 a.m. ET, Dow futures were down by 59 points, S&P 500 futures decreased by 25.5 points, and Nasdaq 100 futures dropped by 165.25 points.

On Tuesday, U.S. major stock averages closed higher. The Nasdaq increased by 262.06 points or 1.4% to 19,654.02, the S&P 500 rose by 43.31 points or 0.7% to 6,037.88, and the Dow climbed by 134.13 points or 0.3% to 44,556.04.

Important economic releases include the ADP Employment Report for January, scheduled for 8:15 a.m. ET, with expectations of a 153,000 increase following a 122,000 rise in the previous month.

The International Trade in Goods and Services report for December is due at 8:30 a.m. ET, with forecasts suggesting a $92 billion decline, compared to a $78.2 billion drop in November.

Additionally, three-year and ten-year Treasury Note auctions will be conducted at 8:30 a.m. ET.

The PMI Composite Final for January will be published at 9:45 a.m. ET, with the services index expected to reach 52.8, down from 56.8 the previous month.

The ISM Services Index for January is set for release at 10:00 a.m., anticipated to be at 54.0, slightly lower than December's 54.1.

At 10:30 a.m. ET, the Energy Information Administration (EIA) will release its Petroleum Status Report for the prior week, which previously saw crude oil inventories increase by 3.5 million barrels and gasoline inventories by 3.0 million barrels.

Asian markets showed mixed results on Wednesday. In China, the Shanghai Composite Index declined by 0.65% to 3,229.49 amid rising trade tensions.

Hong Kong's Hang Seng Index fell by 0.93% to 20,597.09, with significant losses in real estate and tech stocks.

Japanese markets remained stable, with the Nikkei finishing slightly up at 38,831.48 and the broader Topix Index up by 0.27% at 2,745.51.

Australian markets moved upwards, with the S&P/ASX 200 climbing by 0.51% to 8,416.90 and the All Ordinaries Index ending 0.58% higher at 8,683.40.

In Europe, trading has been mixed. France's CAC 40 Index is down by 14.58 points or 0.18%, Germany's DAX has decreased by 16.25 points or 0.08%, while the U.K.'s FTSE 100 Index is up by 14.95 points or 0.17%.

The Swiss Market Index is showing an increase, up by 62.05 points or 0.50%.

The Euro Stoxx 50 Index, which aggregates 50 blue-chip stocks from across the eurozone, is down by 0.086%.