BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The Federal Reserve's monetary policy announcement and the central bank's interest rates are the highlights on Wednesday.
Acknowledgment of Joe Biden as President-elect and the roll-out of vaccine for COVID-19 might add optimism.
Earlier signs from the U.S. Futures Index suggest that that Wall Street might open higher.
Asian shares finished higher, while European shares are trading up. Reports on retail sales, homebuilder confidence, and business inventories
As of 7.30 am ET, the Dow futures were adding 74.00 points, the S&P 500 futures were gaining 10.00 points and the Nasdaq 100 futures were progressing 25.50 points.
The U.S. major averages all finished Tuesday firmly in positive territory. The Dow jumped 337.76 points or 1.1 percent to 30,199.31, the Nasdaq surged up 155.02 points or 1.3 percent to 12,595.06 and the S&P 500 shot up 47.13 points or 1.3 percent to 3,694.62.
On the economic front, the Commerce Department's Retail Sales for November will be issued at 8.30 am ET. The consensus is for a decline of 0.3 percent, while it was up 0.3 percent.
IHS Markit's PMI Composite Flash for December will be released at 9.45 am ET. The consensus is for 57.4, slightly down from 57.9 in the previous month.
The Commerce Department's Business Inventories for October will be published at 10.00 am ET. The consensus is for an increase of 0.6 percent, while it was up 0.7 percent in the previous month.
National Association of Home Builders/Wells Fargo's Housing Market Index for December will be released at 10.00 am ET. The consensus is for 89, while it was up 90 in November.
Atlanta Fed Business Inflation Expectations for December will be issued at 10.00 am ET. In the previous month, the inflation expectations were up 1.9 percent.
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 up 15.2 million barrels and Gasoline Inventories were up 4.2 million barrels.
The Fed's Federal Open Market Committee or FOMC meeting announcement is scheduled at 2.00 pm ET. The consensus is for up to 0.25 percent.
The Fed Chair Press Conference will be at 2.30 am ET.
Asian stocks rose broadly on Wednesday. Chinese shares ended little changed. Hong Kong's Hang Seng index rose 253 points, or 0.97 percent, to 26,460.29.
Japanese shares ended a tad higher. The Nikkei average inched up 69.56 points, or 0.26 percent, to 26,757.40, while the broader Topix index closed 0.27 percent higher at 1,786.83.
Australian markets rose notably. The benchmark S&P/ASX 200 index climbed 47.90 points, or 0.72 percent, to 6,679.20, while the broader All Ordinaries index ended up 50 points, or 0.73 percent, at 6,916.70.
European shares are trading mostly higher. Among the major indexes in the region, the German DAX is gaining 103.63 points or 1.45 percent, the U.K. FTSE 100 Index is progressing 58.08 points or 0.89 percent.
The Swiss Market Index is adding 79.87 points or 0.77 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.63 percent.
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