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US officials met Iran’s top officials at the UN session. President Trump said that he could “annihilate” Iran if the conflict went unresolved. In response, Iran has warned the US against fresh attacks. On Tuesday, investor sentiments are low and the Wall Street is expected to open lower.<\/p>\n
Asian shares finished mostly up, while European shares are trading lower. <\/p>\n
Oil prices held steady on Wednesday after recent string of losses on hopes for progress in U.S.-Iran talks. Brent crude futures were up 0.3 percent at $99.55 a barrel after falling for five straight sessions. WTI crude futures slipped half a percent to $90.11 a barrel.<\/p>\n
Gold prices fell sharply on Wednesday as investors kept a close eye on developments between the U.S. and Iran, and looked forward to a crucial U.S.-China summit on Thursday, which could lead to new trade agreements amid escalating competition and restrictions on advanced technologies. Spot gold fell.<\/p>\n
As of 8.00 am ET, the Dow futures were losing 103.00 points, the S&P 500 futures were declining 8.00 points and the Nasdaq 100 futures were down 84.75 points.<\/p>\n
The U.S. major averages finished mixed on Tuesday. The Dow sank 185.14 points or 0.36 percent to finish at 51,863.69, while the NASDAQ gained 122.18 points or 0.45 percent to close at a fresh record high of 27,244.28 and the S&P 500 eased 0.06 points or 0.00 percent to end at 7,764.64.<\/p>\n
On the economic front, the PMI Composite Flash for September will be released at 9.45 am ET. In the prior month, the final flash was 56.0. Manufacturing Index is expected to be 53.6, while it was up 53.9 in the prior month. The Services Index is projected to be 56.0, while it was up 56.5 in August. <\/p>\n
The Atlanta Fed’s Business Inflation Expectations survey report for September will be released at 10.00 am ET. In the prior month, the inflation expections were up 2.2 percent. <\/p>\n
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 was down 0.6 million barrels and the gasoline inventories was up 0.8 million barrels. <\/p>\n
Two-year Floating Rate Note or FRN auction will be held at 11.30 am ET.<\/p>\n
The 5-year Treasury Note auction will be held at 1.00 pm ET.<\/p>\n
Michael Barr will speak on Housing before ‘Housing Affordability 2026: A Community Development Summit’ at the Federal Reserve Bank of Chicago at 10.05 am ET. <\/p>\n
Asian stocks ended mixed on Wednesday. China’s Shanghai Composite index dropped 0.39 percent to 3,936.52. Hong Kong’s Hang Seng index fell 1.01 percent to 24,834.12.<\/p>\n
Japanese markets<\/span> were closed for Autumnal Equinox Day holiday.<\/p>\n Australian markets closed marginally higher. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n