Wall Street Poised To Open Broadly Up

(RTTNews) - Investors remain concerned about escalating US tariffs and early trends on the U.S. Futures Index suggest that Wall Street might open broadly up on Wednesday. Producer Prices Index and Industrial Production data and fed speeches might be influencing the market sentiments.

Asian shares finished mostly lower, while European shares are trading broadly higher.

In view of the tariff related challenges, oil prices traded lower on Wednesday. Brent crude futures for September delivery fell half a percent to $68.39 a barrel. At the same time expectations are there for higher summer demand from the US and China. OPEC maintained its oil demand forecast for the second half of 2025 and 2026.

Global oil demand growth for 2025 is forecast at 1.3 million barrels a day, unchanged from the previous monthly assessment. The forecast for 2026 also remains unchanged.

In the Asian trading session, the dollar pulled back slightly. Gold inched higher, while oil prices were steady.

As of 8.10 am ET, the Dow futures were gaining 107.00 points, the S&P 500 futures were adding 2.75 points and the Nasdaq 100 futures were tumbling 26.50 points.

While the tech-heavy Nasdaq rose 37.47 points or 0.2 percent to a new record closing high of 20,677.80, the S&P 500 fell 24.80 points or 0.4 percent to 6,243.76 and the Dow slumped 436.36 points or 1.0 percent to 44,023.29.

On the economic front, the PPI-Final Demand for June will be issued at 8.30 am ET. The PPI-FD consensus is up 0.2 percent, while it was up 0.1 percent in the prior month.

Federal Reserve Board of Governors' Industrial Production for June will be released at 9.15 am ET. The consensus is up 0.1 percent, while it was down 0.2 percent in May.

The Energy Information Administration or EIA's Petroleum Status Report for the week will be published at 10.30 am ET. The Crude Oil Inventories were up 7.1 million barrels, while Gasoline Inventories were down 2.7 million barrels.

The Beige Book, published roughly two weeks before the monetary policy meetings of the Federal Open Market Committee or FOMC is expected at 2.00 pm ET.

Fed Governor Michael Barr will speak on 'Financial Regulation' before the Brookings Institution at 10.00 am ET.

Cleveland Fed President Beth Hammack will speak on 'Community Development' before the Cuyahoga County Community College Corporate College 20th Anniversary Celebration Business Breakfast at 9.15 am ET.

New York Fed President John Williams will give keynote before the New York Association for Business Economics Distinguished Speaker Series at 6.30 pm ET.

Asian stocks ended mostly lower on Wednesday. China's Shanghai Composite index finished marginally lower at 3,503.78. Hong Kong's Hang Seng index gave up early gains to end 0.29 percent lower at 24,517.76.

Japanese stocks ended on a flat note. The Nikkei average finished marginally lower at 39,663.40 while the broader Topix index slipped 0.21 percent to 2,819.40.

Australian markets ended lower. The benchmark S&P/ASX 200 dropped 0.79 percent to 8,561.80 while the broader All Ordinaries index settled 0.66 percent lower at 8,816.40.

European shares are trading mostly up. CAC 40 of France is adding 2.56 points or 0.03 percent. DAX of Germany is at 0.00 or 0.00 percent. FTSE 100 of England is gaining 27.95 points or 0.31 percent. The Swiss Market Index is climbing 47.39 points or 0.40 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.15 percent.