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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | The major U.S. index futures are pointing to a mixed opening on Wednesday following the lackluster performance seen in the previous sessions.
Traders may be reluctant to make any significant moves ahead of the release of the Federal Reserve?s latest monetary policy meeting.
The minutes may shed additional light on the outlook for interest rates, which has recently contributed to considerable volatility on Wall Street.
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Stocks showed a lack of direction over the course of the trading session on Tuesday before ending the session modestly lower. The Dow and the S&P 500 closed lower for the first the time in six sessions.
The major averages ended the day in negative territory. The Dow slumped 254.63 points or 1 percent at 24,964.76, the Nasdaq edged down 5.16 points to 5.16 points or 7,234.31 and the S&P 500 fell by 15.96 points or 2,716.26.
The choppy trading on Wall Street came as traders are digesting recent volatility and expressing some uncertainty about the near-term outlook for the markets.
Traders were also reluctant to make more significant moves amid a quiet day on the U.S. economic front.
Most of the major sectors showed only modest moves on the day, although significant weakness was visible among gold stocks
Reflecting the weakness in the gold sectors, the NYSE Arca Gold Bugs Index slumped by 3.1 percent,
The weakness among gold stocks came amid a steep drop by the price of precious metal, with gold for April delivery plummeted $25.10 to $1,342.10 an ounce.
Pharmaceutical, transportation, and real estate stocks also saw considerable weakness, while significant strength was also visible among semiconductor stocks.
NXP Semiconductors (NXPI) jumped by 6 percent after Qualcomm (QCOM) raised its offer to acquire the chipmaker to $127.50 per share from $110 per share.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
At 10 am ET, the National Association of Realtors is scheduled to release its report on existing home sales in the month of January. Existing home sales are expected to rise by 0.9 percent.
The Treasury Department is due to release the results of its auction of $35 billion worth of five-year notes at 1 pm ET.
At 2 pm ET, the Federal Reserve is scheduled to release the minutes of its monetary policy meeting held in late January. |
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| | Europe |
European stocks opened a tad lower on Wednesday after U.S. shares fell overnight in the wake of a rising dollar, disappointing results from Walmart and climbing bond yields on expectations of a faster pace of interest rate increases from the Federal Reserve.
On the data front, Germany's private sector expanded strongly in February, although the pace of growth slowed from a near seven-year high seen in January, flash data from IHS Markit showed today. The composite output index dropped unexpectedly to a 3-month low of 57.4 from 59.0 in January.
France's private sector expanded at the slowest pace in four months in February. The composite output index fell more-than-expected to 57.8 from 59.6 in January.
The dollar firmed up to trade at a one-week high versus a basket of major currencies as investors awaited the minutes of the Federal Reserve's Jan. 30-31 meeting for insight on inflation and interest rates.
While the U.K.?s FTSE Index has inched up by 0.1 percent, the French CAC 40 Index is down by 0.3 percent and the German DAX Index is down by 0.5 percent.
Swiss banking software company Temenos Group shed 0.8 percent after it agreed to buy British financial software firm Fidessa Group for about 1.4 billion pounds ($1.96 billion).
German stock exchange operator Deutsche Börse rose over 1 percent after posting solid earnings growth for 2017.
Glencore shares advanced 1.7 percent. The commodity trading and mining company announced a bumper payout to shareholders after reporting a more than fourfold jump in net profit for 2017.
U.K. housebuilder Barratt Developments gained 1 percent on posting record first-half profit.
French telecoms operator Orange rallied 2 percent after annual revenues in its home country rose for the first time in nine years.
Lloyds Banking Group climbed 2 percent. The bank announced plans to return £1bn to shareholders after reporting sharply higher profits for 2017.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks recovered from a weak start to close mostly higher on Wednesday despite weak overnight cues from Wall Street.
Underlying sentiment remained cautious somewhat after yields on U.S. treasury debt hit a four-year high on Tuesday on expectations of a faster pace of interest rate increases from the Federal Reserve.
Mainland Chinese markets remained closed for Lunar New Year holiday, while Hong Kong's Hang Seng Index jumped 558.26 points or 1.8 percent to 31,431.89.
Japanese shares ended a choppy session slightly higher as a weaker yen helped offset flash data from IHS Markit showing the country's manufacturing activity grew at a slightly slower pace in February.
The Nikkei 225 Index rose 45.71 points or 0.2 percent to 21,970.81, although the broader Topix Index finished marginally lower at 1,761.61.
Exporters ended mostly higher, with Canon, Sony and Honda Motor rising 1-2 percent. Lender Mitsubishi UFJ Financial lost 2 percent, Sumitomo Mitsui Financial shed 1.2 percent and Mizuho Financial declined 1.1 percent.
Australian shares erased initial losses to end marginally higher. BHP Billiton fell 4.8 percent after reporting its half-year results, while Rio Tinto dropped 1.6 percent to extend losses for the third consecutive session. Smaller rival Fortescue Metals Group slumped 4.7 percent.
Logistics software firm WiseTech Global lost 23.2 percent as a guidance upgrade failed to materialize. Oil & gas producer Santos tumbled 3.1 percent after reporting a hefty full-year loss. Woodside Petroleum and Origin Energy rose over 1 percent after crude oil prices advanced overnight.
Engineering firm WorleyParsons soared 7 percent as it restarted dividends for the first time since 2015. Downer EDI added 1.5 percent as it reported a first-half loss on goodwill impairment as well as writedowns.
Wesfarmers rallied 3 percent despite the retail conglomerate reporting a steep fall in first-half profit due to impairments against its UK hardware business and Target department stores.
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| | Commodities |
Crude oil futures are falling $0.26 to $61.53 a barrel after rising $0.22 to $61.90 a barrel on Tuesday. Meanwhile, after plunging $25 to $1,331.20 an ounce in the previous session, gold futures are dipping $0.90 to $1,330.30 an ounce.
On the currency front, the U.S. dollar is trading at 107.52 yen compared to the 107.33 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $1.2317 compared to yesterday?s $1.2337.
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