Wall Street Sees Red At Open

(RTTNews) - Since July, oil hit above $100 a barrel on Wednesday, as US hit five Iranian tankers, while Houthi, supported by Iran, attacked oil infrastructure in Saudi Arabia.

Asian shares finished mixed on Wednesday, while European shares are trading lower.

Brent crude futures soared 2.6 percent to $100.44 a barrel. Gold prices traded higher. Spot gold jumped nearly 1 percent to $4,396.31 an ounce. U.S. gold futures were marginally higher at $4,440 an ounce.

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

As of 7.55 am ET, the Dow futures were losing 327.00 points, the S&P 500 futures were down 25.25 points and the Nasdaq 100 futures were sliding 132.50 points.

The U.S. major averages finished lower on Tuesday. The Dow slumped 628.18 points or 1.2 percent to 52,786.07, the S&P 500 fell 45.08 points or 0.6 percent to 7,673.52 and the Nasdaq dipped 85.58 points or 0.3 percent to 26,421.41.

On the economic front, the Quarterly Services Survey for the second quarter will be released at 10.00 am ET. In the prior quarter, the selected services revenue was up 1.1 percent. Information revenue was up 2.8 percent.

The Treasury Buyback announcement is scheduled at 11.00 am ET.

Ten-year Treasury Note auction will be held at 1.00 pm ET.

Asian stocks ended mixed on Wednesday. China's Shanghai Composite index rose 0.28 percent to 3,951.51 while Hong Kong's Hang Seng index dipped 0.17 percent to 25,274.96.

Japanese markets ended slightly lower. The Nikkei average slipped 0.19 percent to 65,142.78. The broader Topix index finished marginally lower at 4,046.64.

Australian markets closed modestly lower. The benchmark S&P/ASX 200 slipped 0.11 percent to 8,911.40. The broader All Ordinaries index ended 0.13 percent lower at 9,102.90.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is down 161.75 points or 1.94 percent. The German DAX is losing 401.28 points or 1.54 percent, the U.K. FTSE 100 Index is sliding 114.13 points or 1.06 percent.

The Swiss Market Index is down 207.61 points or 1.48 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.94 percent.