Futures Point To Broadly Higher Open For Wall Street

Durable goods orders and weekly jobless claims might be the highlights on Wednesday ahead of the Thanksgiving day holiday.

In the Asian trading session, gold hit a two-week high, while the dollar eased. Oil recovered some ground.

Asian shares finished mostly up, while European shares are trading broadly higher.

Early trends on the U.S. Futures Index suggest that Wall Street might open broadly positive.

As of 7.25 am ET, the Dow futures were progressing 28.00 points, the S&P 500 futures were sliding 19.00 points and the Nasdaq 100 futures were gaining 7.00 points.

The U.S. major averages posted strong gains on Tuesday’s closing. The Dow jumped 664.18 points or 1.4 percent to 47,112.45, the S&P 500 advanced 60.76 points or 0.9 percent to 6,765.88 and the Nasdaq climbed 153.59 points or 0.7 percent to 23,025.59.

On the economic front, the Durable Goods Orders for September will be released at 8.30 am ET. The consensus for new orders is up 0.1 percent.

The Durable Goods Orders will be issued at 10.30 am ET.

The Gross Domestic Product or GDP is scheduled at 8.30 am ET.

The Labor Department’s Jobless Claims for the week will be revealed at 8.30 am ET. The consensus is for an increase of 225K, while it was up 220K in the prior week.

The Chicago PMI for November will be released at 9.45 am ET. The consensus is 44.3, while it was up 43.8.

The New Home Sales be published 10.00 am ET. The Personal Income and Outlays for October will be issued at 10.00 am ET. In the prior month, the Personal Income was up 0.4 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 down 3.4 million barrels and the gasoline inventories were up 2.3 million barrels.

EIA’s Natural Gas Report for the week is expected at 12.00 pm ET. In the prior week, the gas stock was down 14 bcf.

The Baker Hughes Rig Count for the week will be published at 1.00 pm ET. In the prior week, the North America rig count was up 749, while U.S. rig count was 554.

The Beige Book, published two weeks before the monetary policy meetings of the Federal Open Market Committee is scheduled at 2.00 pm ET.

Seven-year Treasury Note auction will be held at 11.30 am ET.

Asian stocks gained on Wednesday. China’s Shanghai Composite index slipped 0.15 percent to 3,864.18. Hong Kong’s Hang Seng index edged up by 0.13 percent to 25,928.08.

Japanese markets rallied. The Nikkei average jumped 1.85 percent to 49,559.07 while the broader Topix index closed up 1.96 percent at 3,355.50.

Australian markets rose notably. The benchmark S&P/ASX 200 climbed 0.81 percent to 8,606.50. The broader All Ordinaries index settled 0.85 percent higher at 8,899.30.

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