Wall Street Sees Red Again
The economic blows from coronavirus continue to worry the investors across the globe. Despite whole-hearted efforts, the total number of coronavirus infections jumped to more than 120,000 with no signal of reduction in its rate of outspread.
Asian shares finished down, while European shares are trading mostly higher.
Early signs from the U.S. Futures Index is pointing to a lower opening for Wall Street.
As of 8.10 am ET, the Dow futures were losing 673.00 points, the S&P 500 futures were down 82.00 points and the Nasdaq 100 futures were sliding 221.00 points.
U.S. stocks closed higher on Tuesday. The Dow soared 1,167.14 points or 4.9 percent to 25,018.16, the Nasdaq spiked 393.58 points or 5 percent to 8,344.25 and the S&P 500 surged up 135.67 points or 4.9 percent to 2,882.23.
On the economic front, the Labor Department’s Consumer Price Index for February will be published at 8.30 am ET. The consensus is for an increase of 0.1 percent, unchanged from the prior month.
Atlanta Fed Business Inflation Expectations for March will be issued at 10.00 am ET. In the prior month the inflation expectations were up 1.7 percent.
The Energy Information Administration or EIA’s Petroleum status report for the week will be issued at 10.30 am ET. In the prior week, the crude oil inventories were up 0.8 million barrels and gasoline inventories were down 4.3 million barrels.
10-year Treasury Note auction will be held at 1.00 pm ET.
The Treasury Budget for February will be released at 2.00 pm ET. The consensus is for a decline of $239.0 billion, while it was down $32.6 billion a month ago.
Asian stocks ended lower on Wednesday. China’s Shanghai Composite index shed 28.24 points, or 0.94 percent, to finish at 2,968.52, while Hong Kong’s Hang Seng index dropped 0.66 percent to 25,223.33.
Japanese stocks ended sharply lower. The Nikkei average plunged 451.06 points, or 2.27 percent, to 19,416.06, marking its lowest close since Dec. 26, 2018. The broader Topix index ended 1.53 percent lower at 1,385.12. Tech stocks fell broadly, with Advantest and Tokyo Electron losing around 6 percent.
Australian markets slipped into bear market territory. The benchmark S&P/ASX 200 index tumbled 213.70 points, or 3.60 percent, to 5,725.90. The broader All Ordinaries index slumped 206.50 points, or 3.44 percent, to 5,789.30.
European shares are mostly progressing. France’s CAC 40 is losing 19.43 points or 0.41 percent. Germany’s DAX is up 92.15 points or 0.88 percent. FTSE 100 of U.K. is advancing 32.78 points or 0.55 percent. Swiss Market Index is up 58.35 points or 0.62 percent.
Eurozone’s leading Blue Chip index, Euro Stoxx 50, is progressing 1.05 percent.
Source: Read Full Article