BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The Fed's monetary policy announcement and earnings might be the major focus on Wednesday.
On the earnings front, Advanced Micro Devices, Clorox, Ford, and Starbucks are the companies releasing their quarterly results today.
Early signs from the U.S. Futures Index suggest that Wall Street might open positive.
Asian share finished mixed, while European shares are trading higher.
As of 7.35 am ET, the Dow futures were up 46.00 points, the S&P 500 futures were adding 11.00 points and the Nasdaq 100 futures were progressing 39.25 points.
The U.S. major averages posted steep losses on Wednesday. The Dow tumbled 367.17 points or 1.1 percent to 33,684.53, the Nasdaq slumped 132.09 points or 1.1 percent to 12,080.51 and the S&P 500 plunged 48.29 points or 1.2 percent to 4,119.58.
On the economic front, the national employment report from Automated Data Processing Inc. for April will be issued at 8.15 am ET. The consensus is for 143,000, while it was up 145,000 in the prior month.
Three-year Treasury Note auction will be held at 8.30 am ET. The 10-year Treasury Note auction will be held at 8.30 am ET. The 30-year Treasury Bonds announcement is scheduled at 8.30 am ET.
The Treasury Refunding announcement is expected at 8.30 am ET.
US Services Purchasing Managers' Index or PMI for April will be published at 9.45 am ET. The consensus is 53.7.
The Institute for Supply Management's Services Index for April will be released at 10.00 am ET. The consensus is 51.7, while it was up 51.2 in the prior month.
The Federal Open Market Committee or FOMC's announcement is expected at 2.00 pm ET. The Fed Chair Press Conference will be held at 2.30 pm ET.
The Energy Information Administration or EIA's Petroleum Status Report for the week is scheduled at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 5.1 million barrels and the Gasoline Inventories were down 2.4 million barrels.
In the corporate sector, Allstate, MetLife, Mosaic, and Qiagen are the major corporates that have scheduled their corporate earnings after the bell today.
Asian markets moved lower on Wednesday. Markets in China and Japan are closed for a holiday.
The Hang Seng Index of the Hong Kong Stock Exchange dropped 235 points or 1.2 percent from the previous close to finish trading at 19,699.16.
Australia's S&P/ASX200 closed trading at 7,197.40 dropping 70.00 points or 0.96 percent.
The NZX 50 of the New Zealand Stock Exchange shed 130 points or 1.08 percent to close at 11,907.99. Trading ranged between 11,881.23 and 12,037.81.
European shares are trading higher. CAC 40 of France is gaining 52.75 points or 0.71 percent. DAX of Germany is adding 138.23 points or 0.88 percent. FTSE 100 of England is progressing 21.03 points or 0.27 percent. The Swiss Market Index is up 82.96 points or 0.70 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.68 percent.
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