BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Global markets are likely to remain focused on Middle East developments, while Canada's market is expected to open marginally higher. After the announcement of the Iran/Israel cease-fire, the S&P/TSX had closed at 26,718.62 on Tuesday, up 109.26 points or 0.41 percent.
Gold futures are marginally up at 3,334.50, while Silver is up 0.02 percent at 35.740. Crude is trending higher.
Leaders summit of the North Atlantic Treaty Organization in Hague will be discussing to double the alliance's defense spending target, with a target of five per cent of annual GDP.
Prime Minister Mark Carney had held bilateral meetings with the prime minister of New Zealand, Christopher Luxon, and the prime minister of Estonia, Kristen Michal.
In the corporate sector, enGene Holdings Inc. announced that FDA has granted Regenerative Medicine Advanced Therapy designation to its lead drug candidate, detalimogene for the treatment of high-risk, non-muscle invasive bladder cancer.
U.S. Federal Reserve Chairman Jerome Powell's semi-annual monetary policy report testimony is scheduled at 10.00 am ET.
In the Asian trading session, the U.S. dollar struggled to regain lost ground. Gold edged up slightly, while oil prices jumped nearly 2 percent.
Asian shares finished positive, while European shares are trading broadly lower.
Initial signes from the U.S. Futures Index suggest that Wall Street might open slightly up.
On the U.S. economic front, the New Home Sales for May will be issued at 10.00 am ET. The consensus is 694K, while it was up 743K in the prior month.
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 11.5 million barrels and the gasoline inventories were up 0.2 million barrels.
Two-year Treasury Floating Rate Note or FRN auction will be held at 11.30 am ET and five-year Treasury Note Auction will be held at 1.00 pm ET.
Fed Reserve Chairman Jerome Powell will deliver semi-annual monetary policy report testimony before the Senate Banking, Housing and Urban Affairs Committee at 10.00 am ET.
European shares are trading mostly lower. CAC 40 of France is losing 27.16 points or 0.36 percent. DAX of Germany is down 98.72 points or 0.42 percent.
FTSE 100 of England is declining 16.20 points or 0.18 percent. The Swiss Market Index is sliding 49.32 points or 0.41 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.50 percent.
Asian stocks ended on a cautious note on Wednesday. China's Shanghai Composite surged 1.04 percent, while Hong Kong's Hang Seng index jumped 1.23 percent.
Japanese markets ended at over four-month high. The Nikkei average rose 0.39 percent to 38,942.07. The broader Topix index closed little changed with a positive bias at 2,782.24.
Australian markets ended marginally higher.
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