BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - FOMC meeting announcement and Fed announcement are the major spotlights on Wednesday. After the issue of the statement, Fed Chairman will make the announcement that probably include certain changes in policy.
Asian shares finished mostly higher, while European shares are trading higher.
Initial signs from the U.S. Futures Index suggest that Wall Street might open positive.
As of 7.55 am ET, the Dow futures were up 72.00 points, the S&P 500 futures were adding 6.00 points and the Nasdaq 100 futures were progressing 30.25 points.
U.S. stocks closed in negative territory on Tuesday. The Dow edged down 23.33 points or 0.1 percent to 27,198.02, the Nasdaq slipped 19.71 points or 0.2 percent to 8,283.61 and the S&P 500 dipped 7.79 points or 0.3 percent to 3,013.18.
On the economic front, the Labor Department's Employment Cost Index for the second quarter is scheduled at 8.30 am ET. The consensus is for an increase of 0.7 percent, unchanged from the prior quarter.
Three year, and 10 year Treasury Note announcement will be held at 8.30 am ET.
The Institute For Supply Management - Chicago PMI for July will be published at 9.45 am ET. The consensus is for an increase of 50.5, higher than 49.7 in the prior month.
The Energy Information Administration or EIA's Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week, the Crude oil inventories were down 10.8 million barrels and Gasoline inventories were down 0.2 million barrels.
The FOMC meeting announcement will be held at 2.00 pm ET. The consensus is for 2.25 to 2.50 percent. the Fed's meeting statement-which indicates any changes in monetary policy will be held at 2.30 pm ET.
In the corporate sector, General Electric Co. reported second quarter adjusted earnings of $0.17 including a $0.06 benefit from tax audit resolution. On a GAAP, basis, GE reported a continuing loss per share of $0.03, due to a negative impact of $0.09 from goodwill charge. Second-quarter revenues were $28.8 billion, down 1 percent from prior year.
For 2019, GE now expects adjusted earnings per share in a range of $0.55 - $0.65, revised from previous guidance range of $0.50 - $0.60.
Asian stocks fell on Wednesday. China's Shanghai Composite index fell 19.83 points or 0.67 percent to 2,932.51. Hong Kong's Hang Seng index ended down 1.31 percent at 27,777.75. The official manufacturing PMI for the month came in at 49.7. The non-manufacturing index fell to 53.7 from 54.2 in June while the composite index came in with a score of 53.1, up marginally from 53.0 in the previous month.
Japanese shares fell. The Nikkei average slid 187.78 points or 0.86 percent to 21,521.53 while the broader Topix index closed 0.66 percent lower at 1,565.14.
Australian markets slipped into the red. The benchmark S&P/ASX 200 index dropped 32.50 points or 0.47 percent to 6,812.60 while the broader All Ordinaries index ended up 31.60 points or 0.46 percent at 6,896.70.
European shares are mostly up. France's CAC 40 is climbing 9.13 points or 0.17 percent. Germany's DAX is up 31.86 points or 0.26 percent. FTSE 100 of U.K. is declining 47.59 points or 0.63 percent. Swiss Market Index is up 21.61 points or 0.22 percent.
Eurozone's leading Blue Chip index,Euro Stoxx 50, is progressing 0.094 percent.
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