Wall Street Aimst To Open Moderately Up

Though the relations between Ukraine and the U.S. is upset with a few recent comments, Ukrainian Leader Volodymyr Zelensky met Trump envoy Steve Witkoff at Oslo on Tuesday. Investors are worried about conflicting signals on efforts to end the U.S.-Iran war.

Oil prices were moving higher on Wednesday. In the Asian trading session, Brent crude prices rose 1.1 percent to $110 a barrel. WTI crude futures surged 1.2 percent to $99 a barrel.

Gold prices held steady. Spot gold was largely unchanged at $4,121.91 an ounce while U.S. gold futures slipped 0.1 percent to $4,139.

Early trends from the U.S. Futures Index suggest that Wall Street might open moderately up.

As of 8.00 am ET, the Dow futures were gaining 78.00 points, the S&P 500 futures were up 18.00 points and the Nasdaq 100 futures were climbing 184.75 points.

The U.S. major averages finished broadly up on Tuesday. The Dow reached its best closing level in over a month, jumping 529.85 points or 1 percent to 52,495.88. The S&P 500 also rose 21.84 points or 0.3 percent to 7,712.57, but the Nasdaq edged down 6.07 points or less than a tenth of a percent to 26,424.82.

On the economic front, the Atlanta Fed Business Inflation Expectations for October will be released at 10.00 am ET. In the prior month, the expectations were up 2.4 percent.

The Energy Information Administration or EIA’s Petroleum Status Report for the week will be issued at 10.30 am ET. In the prior week, the crude oil inventories were down 8.6 million barrels and gasoline inventories were up 3.5 million barrels.

The 20-year Treasury Bond auction will be held at 1.00 pm ET.

The Labor Department’s Jobless Claims for the week will be published at 8.30 am on Thursday.

Asian stocks ended mixed on Wednesday. China’s Shanghai Composite index dropped 0.60 percent to 3,713.03. Hong Kong’s Hang Seng index fell 0.90 percent to 23,651.87.

Japanese markets closed higher. The Nikkei average jumped 0.85 percent to 64,621.24 while the broader Topix index settled 0.86 percent higher at 4,043.73.

Australian markets edged up slightly. The benchmark S&P/ASX 200 inched up 0.16 percent to 8,831.30. The broader All Ordinaries index closed 0.14 percent higher at 8,956.60.

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