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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 modestly lower opening on Wednesday following the upward move seen in the previous session.
Following the sell-off seen on Monday, stocks moved back to the upside during the trading day on Tuesday.
The Dow climbed 116.36 points or 0.5 percent to 24,727.27, the Nasdaq rose 20.06 points or 0.3 percent to 7,364.30 and the S&P 500 ended up 4.02 points or 0.2 percent to 2,716.94.
The strength on Wall Street may partly have reflected bargain hunting following the notable decline seen during trading on Monday.
Trading activity was somewhat subdued, however, as traders looked ahead to this afternoon?s monetary policy announcement by the Federal Reserve.
With the Fed widely expected to raise interest rates by 25 basis points, traders are likely to keep an eye on the accompanying statement for clues about the outlook for future rate hikes.
New Fed Chairman Jerome Powell's first press conference as head of the central bank is also likely to attract considerable attention.
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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 February.
Existing home sales are expected to rise by 0.5 percent in February after plunging by 3.2 percent in January.
The Energy Information Administration is scheduled to release its report on oil inventories in the week ended March 16th at 10:30 am ET.
Crude oil inventories are expected to increase by 2.6 million barrels after jumping by 5.0 million barrels in the previous week.
At 2 pm ET, the Federal Reserve is due to announce its monetary policy decision and release its forecasts for the economy. |
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| | Europe |
European stocks have moved mostly lower on Wednesday as the dollar eased somewhat against rivals ahead of the looming Fed rate hike.
While the U.K.?s FTSE 100 Index has dropped by 0.6 percent, the French CAC 40 Index is down by 0.4 percent and the German DAX Index is down by 0.3 percent.
Adecco Group has moved to the downside after the Swiss employment services group said that the strong cash generation of its underlying businesses underpins its program of strategic investments.
Kingfisher has also slumped after the British home improvement retailer warned over 'uncertain' trading after reporting a decline in statutory pre-tax profit for year ended 31 January 2018.
Meanwhile, oilfield services provider Petrofac has moved higher on winning a $200 million contract in India.
French luxury goods maker Hermes has rallied after it posted record profitability for 2017 and increased its dividend.
Video game publisher Ubisoft has also jumped after Vivendi sold its entire stake in the company for 2 billion euros.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks ended mixed on Wednesday as oil prices surged and investors braced for an increase interest rates by the Federal Reserve. Japanese markets were closed to mark the first day of spring in the Northern Hemisphere.
China's Shanghai Composite Index dropped 9.05 points or 0.3 percent to 3,281.59, while Hong Kong's Hang Seng Index fell 135.41 points or 0.4 percent to 31,414.52.
Meanwhile, Australian shares ended higher in thin trading ahead of the Federal Reserve decision on interest rates and guidance.
The benchmark S&P/ASX200 Index rose 13.90 points or 0.2 percent to 5,950.30 and the broader All Ordinaries Index ended up 12.30 points or 0.20 percent at 6,053.10.
The big four banks rose between 0.6 percent and 1 percent, while mining heavyweight Rio Tinto ended on a flat note after ruling out a special dividend before the company's half-year results in August.
Steelmaker Bluescope Steel jumped 4.4 percent as Morgan Stanley started coverage on the stock with an overweight rating.
Nufarm rallied 5.5 percent after the agricultural chemical supplier said it remained confident of earnings growth in the full year.
On the other hand, department store chain Myer Holdings tumbled 3.5 percent on reporting a net loss for the first half on impairments and lower sales.
Crown Resorts lost about 1 percent after news that billionaire James Packer has resigned as director of the casino operator.
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| | Commodities |
Crude oil futures are rising $0.55 to $64.09 a barrel after jumping $1.34 to $63.40 a barrel on Tuesday. Meanwhile, after falling $5.90 to $1,311.90 an ounce in the previous session, gold futures are climbing $4.60 to $1,316.50 an ounce.
On the currency front, the U.S. dollar is trading at 106.31 yen compared to the 106.53 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $1.2273 compared to yesterday?s $1.2242.
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