Futures Suggests Wall Street To Open Broadly Up

(RTTNews) - President Donald Trump said he will delay new 50 percent tariff imposition on Canadian goods for three days expecting a trade deal. The tariff was projected to kick off on Thursday.

Oil prices continues to trade higher on Wednesday. Gold edged up. Spot gold inched up half a percent to $4,356.48 an ounce.

Early signs from the U.S. Futures Index suggest that Wall Street might open broadly up.

As of 7.50 am ET, the Dow futures were gaining 54.00 points, the S&P 500 futures were adding 2.50 points and the Nasdaq 100 futures were down 68.75 points.

The U.S. major averages all ended the day in negative territory. The Nasdaq slumped 355.20 points or 1.3 percent to 26,289.71, the S&P 500 slid 53.30 points or 0.7 percent to 7,691.76 and the Dow fell 116.38 points or 0.2 percent to 53,343.40.

On the economic front, the Atlanta Fed Business Inflation Expectations for August is scheduled at 10.00 am ET. In the prior month, the Inflation expectations were up 2.2 percent.

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, crude oil inventories were up 17.4 million barrels and gasoline inventories were down 1.0 million.

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

The Federal Open Market Committee or FOMC meeting minutes will be released at 2.00 pm ET.

Asian stocks ended broadly lower on Wednesday. China's Shanghai Composite index fell 2.40 percent to 3,894.42. Hong Kong's Hang Seng index finished marginally higher at 25,495.07.

Japanese markets fell sharply. The Nikkei average fell 3.16 percent to 65,326.42 while the broader Topix index settled 3.09 percent lower at 4,012.31.

Australian markets ended lower. The benchmark S&P/ASX 200 dropped 0.18 percent to 9,053.80. The broader All Ordinaries index ended 0.20 percent lower at 9,255.20.