BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Jobless Claims for the week, International Trade Report for May and PMI Services Index for June are the major economic announcements ahead of the Independence Day holiday.
Early trends on U.S. Futures Index suggest that Wall Street might open positive on Wednesday.
Asian shares fell, while European shares are trading higher.
As of 7.50 am ET, the Dow futures were gaining 53.00 points, the S&P 500 futures were adding 7.00 points and the Nasdaq 100 futures were up 21.50 points.
U.S. major stocks closed higher on Tuesday. The S&P 500 reached a new record closing high, while the Dow ended the session at a nine-month closing high. The major averages showed a strong move to the upside going into the close. The Dow rose 69.25 points or 0.3 percent to 26,786.68, the Nasdaq edged up 17.93 points or 0.2 percent to 8,109.09 and the S&P 500 climbed 8.68 points or 0.3 percent to 2,973.01.
On the economic front, the Commerce Department's International Trade report for May will be published at 8.30 am ET. The consensus is for a deficit of $53.4 billion while it was a deficit of $50.8 billion in the prior month.
The U.S. Labor Department's Jobless Claims for the week will be released at 8.30 am ET. The consensus is for 220K while it was 227K in the prior week.
Markit Economics' PMI Services Index for June will be issued at 9.45 am ET. The consensus is for 50.7, slightly down from 50.9 in the previous month.
The Commerce Department's Factory Orders for May will be revealed at 10.00 am ET. The consensus is for a decline of 0.5 percent, better than the fall of 0.8 percent in April.
Institute for Supply Management's Non-Manufacturing Index for June will be issued at 10.00 am ET. The consensus is for 55.8, while it was 56.9 in the prior month.
The Energy Information Administration or EIA's Petroleum Status Report for the week will be published at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 12.8 million barrels and Gasoline inventories were down 1.0 million barrels.
Asian stocks fell on Wednesday. China's Shanghai Composite index dropped 28.68 points or 0.94 percent to 3,015.26 and Hong Kong's Hang Seng index ended marginally lower at 28,855.14.
Japanese shares fell. The Nikkei average dropped 116.11 points or 0.53 percent to 21,638.16 after touching a two -month high the previous day. The broader Topix index closed 0.65 percent lower at 1,579.54.
Australian markets closed higher. The benchmark S&P/ASX 200 index gained 32.30 points or 0.49 percent to finish at 6,685.50 while the broader All Ordinaries index ended up 29 points or 0.43 percent at 6,770.10.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is adding 34.95 points or 0.63 percent, the German DAX is increasing 79.12 points or 0.63 percent, the U.K. FTSE 100 Index is up 58.44 points or 0.77 percent. The Swiss Market Index is progressing 54.76 points or 0.55 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.76 percent.
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