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Qatar is continuing with the talks between the U.S. and Iran on Wednday, and said it expects an interim deal, despite fresh U.S. strikes and continued threats to shipping through Hormuz.<\/p>\n
Oil prices traded lower on Wednesday. Brent crude futures dropped 0.9 percent to $102.64, while WTI crude futures were down 0.7 percent at $95.47.<\/p>\n
Gold prices jumped nearly 3 percent. Spot gold soared 2.9 percent to $4,043.97 an ounce while U.S. gold futures were up 2.9 percent at $4,053.85.<\/p>\n
The U.S. dollar dropped against all of its Group-of-10 peers.<\/p>\n
Initial trends from the U.S. Futures Index suggest that Wall Street might open significantly up on Wednesday. <\/p>\n
As of 7.35 am ET, the Dow futures were up 867.00 points, the S&P 500 futures were adding 72.00 points and the Nasdaq 100 futures were progressing 137.75 points.<\/p>\n
The U.S. major averages finished mostly up on Tuesday. The Nasdaq advanced 207.65 points or 0.8 percent to 25,372.01 and the S&P 500 rose 27.52 points or 0.4 percent to 7,568.92, but the Dow fell 197.26 points or 0.4 percent to 51,786.72.<\/p>\n
On the economic front, the ADP Employment Report for October will be released at 8.15 am ET. The consensus for payrolls is 70,000, while it was up 90,000 in September. <\/p>\n
The International Trade in Goods and Services for September will be issued at 8.30 am ET. The consensus is for a deficit of $107.9 billion, while the deficit in August was $105.6 billion. <\/p>\n
The ISM Services Index for October will be published at 10.00 am ET. The consensus is 54.7, while it was up 54.9 in the prior month. <\/p>\n
The PMI Composite Final report for October is scheduled at 9.45 am ET. The flash index is 57.6, while it was 58.4 in the prior month. <\/p>\n
The 30-year Bond Announcement will be held at 8.30 am ET. <\/p>\n
Ten-year Treasury Note auction will be held at 8.30 am ET. <\/p>\n
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 1.9 million barrels, while gasoline inventories were up 3.9 million barrels. <\/p>\n
Asian stocks ended mixed on Wednesday. China’s Shanghai Composite index rallied 2.16 percent to 3,686.17 while Hong Kong’s Hang Seng index surged 1.67 percent to 23,919.50.<\/p>\n
Japanese markets<\/span> fell sharply. The Nikkei average settled 1.42 percent lower at 62,188.63. The broader Topix index dropped 0.89 percent to 3,895.38. <\/p>\n Australian markets closed lower. The benchmark S&P\/ASX 200 dropped 0.59 percent to 8,834.50. The broader All Ordinaries index closed 0.60 percent lower at 8,954.90. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n