BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Reports on import and export prices, as well as industrial production, might be the highlights on Wednesday. Earnings from major corporates might get the attention of investors.
Early signs from the U.S. Futures Index suggest that Wall Street might open higher. Asian shares finished broadly higher, while European shares are trading up.
As of 8.16 am ET, the Dow futures were up 525.00 points, the S&P 500 futures were adding 43.50 points and the Nasdaq 100 futures were progressing 62.25 points.
The U.S major indices closed higher. The Dow soared 556.79 points or 2.1 percent to 26,642.59 and the S&P 500 surged up 42.30 points or 1.3 percent to 3,197.53. The tech-heavy Nasdaq lagged for much of the session but eventually joined its counterparts in positive territory, closing up 97.73 points or 0.9 percent at 10,488.58.
On the economic front, the Empire State manufacturing survey report for July will be published at 8.30 am ET. The consensus is for an increase of 8.9, while in the prior month, the Index was down 0.2.
Import and Export Prices for June will be issued at 8.30 am ET. The consensus is for a gain of 1.1 percent, while it was up 1 percent in the prior month.
Industrial production report for June will be released at 9.15 am ET. The consensus is for growth of 4.4 percent, while it was up 1.4 percent in the prior month. Atlanta Fed Business Inflation Expectations for July will be published at 10.00 am ET. In the prior month the inflation rate was 1.7 percent.
The Energy Information Administration or EIA's Petroleum Status report the week is expected at 10.30 am ET. In the prior week, the crude oil inventories were up 5.7 million barrels, while Gasoline declined 4.8 million barrels.
Beige Book, produced roughly two weeks before the monetary policy meetings of the Federal Open Market Committee, will be published at 2.00 pm ET.
Asian stocks rose broadly on Wednesday. Chinese stocks fell sharply. The benchmark Shanghai Composite index tumbled 53.31 points, or 1.56 percent, to 3,361.30, while Hong Kong's Hang Seng index ended marginally higher.
Japanese shares hit a one-month high. The Nikkei average climbed 358.49 points, or 1.59 percent, to 22,945.50, its highest close since June 10. The broader Topix index closed 1.56 percent higher at 1,589.51.
Australian markets chased Wall Street higher. The benchmark S&P/ASX 200 index rallied 111.80 points, or 1.88 percent, to 6,052.90 even as the second wave of infections pushed Australia's total case tally throughout the pandemic to more than 10,000. The broader All Ordinaries index ended up 114.90 points, or 1.90 percent, at 6,160.40.
European shares are trading higher. CAC 40 of France is adding 124.97 points or 2.49 percent. DAX of Germany is gaining 235.35 points or 1.89 percent. FTSE 100 of England is progressing 130.70 points or 2.12 percent. Swiss Market Index is up 192.20 points or 1.88 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 2.16 percent.
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