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Early signs from the U.S. Futures suggest that Wall Street might open broadly higher on Wednesday. <\/p>\n
Media reports suggest a possible deadlock in Israel’s electio. Prime Minister Benjamin Netanyahu is yet to get a clear majority. <\/p>\n
Asian shares were broadly up, while European shares are mostly higher. <\/p>\n
In the Asian trading hours, oil prices moved back. <\/p>\n
Brent crude futures jumped 1.2 percent to $115.28 a barrel, paring losses from the previous two sessions after U.S. President Donald Trump stated that further U.S. strikes against Iran after the midterm elections remain a possibility.<\/p>\n
Gold prices were subdued on Wednesday as oil prices moved back toward four-year highs and caution prevailed ahead of the Federal Reserve’s interest-rate decision later in the day.<\/p>\n
Spot gold slipped 0.2 percent to $4,054.36 an ounce after rising more than 1 percent in the previous session. U.S. gold futures were down 0.2 percent at $4,067.75.<\/p>\n
Brent crude futures jumped more than 1 percent above $115 a barrel after U.S. President Donald Trump stated that further U.S. strikes against Iran after the midterm elections remain a possibility.<\/p>\n
As of 7.55 am ET, the Dow futures were down 125.00 points, the S&P 500 futures were adding 9.00 points and the Nasdaq 100 futures were progressing 109.25 points.<\/p>\n
The tech-heavy Nasdaq led the way higher, bouncing further off the two-month closing low set last Friday.<\/p>\n
The Nasdaq gave back some ground going into the end of the day but still jumped 308.43 points or 1.2 percent to 26,477.60. The S&P 500 also climbed 45.83 points or 0.6 percent to 7,722.60, while the narrower Dow posted a more modest gain, inching up 15.99 points or less than a tenth of a percent to 52,377.57.<\/p>\n
On the economic front, the Wholesale Inventories (Advance) for September will be issued at 8.30 am ET. The consensus is for growth of 0.3 percent, while it was up 0.7 percent in the prior month. <\/p>\n
The Energy Information Administration or EIA’s Petroleum Status Report for the week will be released at 10.30 am ET. In the prior week, the crude oil inventories were down 3.1 million barrels and the gasoline inventories were down 3.0 million. <\/p>\n
The Survey of Business Uncertainty for October will be released at 11.00 am ET. In the prior month, the sales growth was up 3.52 percent.<\/p>\n
Two-year Floating Rate Note or FRN auction will be held at 11.30 am ET. <\/p>\n
The Federal Open Market Committee or FOMC meeting announcement will be held at 2.00 pm ET. The consensus is for 0 bp, while it was up 25 bp in the prior period. <\/p>\n
The Fed Chair Press Conference will be held at 2.30 pm ET. <\/p>\n
Asian stocks rose broadly on Wednesday. China’s Shanghai Composite index rose 0.91 percent to 3,681.47. Hong Kong’s Hang Seng index edged up 0.23 percent to 23,094.83.<\/p>\n
Japanese markets<\/span> rose sharply. The Nikkei average rallied 1.08 percent to 63,954.19 while the broader Topix index settled 0.14 percent lower at 3,991.71.<\/p>\n Australian markets ended on a flat note. Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index finished marginally higher at 13,691.33. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n