Wall Street Poised To Open Broadly Down

A slew of economic announcements, especially the Fed's preferred readings on consumer price inflation, are the major focus on Wednesday.Initial cues from the U.S. Futures Index suggest that Wall Street might open broadly lower. In the Asian trading session, oil and gold prices traded higher.As of 7.35 am ET, the Dow futures were up 16.00 points, the S&P 500 futures were declining 6.25 points and the Nasdaq 100 futures were falling 53.00 points.The U.S. major averages finished mostly up on Tuesday. The Dow ended the day up 123.74 points or 0.3 percent at 44,860.31. The S&P 500 climbed 34.26 points or 0.6 percent to a record closing high of 6,021.63, while the Nasdaq rose 119.46 points or 0.6 percent to 19,174.30.On the economic front, the Durable Goods Orders for October will be issued at 8.30 am ET. The consensus is for an increase of 05 percent, while it was down 0.8 percent in the prior month. The GDP for the third quarter will be released at 8.30 am ET. The consensus is for an increase of 2.8 percent, while it was up 2.8 percent in the prior quarter. The International Trade in Goods (Advance) for October will be published at 8.30 am ET. The consensus for a deficit of $104.5 billion, while the deficit in the prior month was $108.2 billion. The Jobless Claims for the week will be revealed at 8.30 am ET. The consensus is for 217K, while it was up 213K in the prior week.The Corporate Profits for the third quarter is scheduled at 8.30 am ET. In the prior quarter, the profits were up 14.2 percent. Retail Inventories (Advance) for October is expected at 8.30 am ET. In the prior month, the inventories were up 0.8 percent. The consensus for Wholesale Inventories (Advance) for October is 0.0 percent, while it was down 0.1 percent in the prior month. The Chicago PMI for November will be published at 9.45 am ET. The consensus is 44.2, while it was up 41.6 in the prior month. The Personal Income and Outlays for October will be issued at 10.00 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.3 percent. The Pending Home Sales Index for October is scheduled at 10.00 am ET. The consensus is for a decline of 1.8 percent, while it was up 7.4 percent in September. The Energy Information Administration or EIA's Petroleum Status Report for the week is expected at 10.30 am ET. In the prior week, the crude oil inventories were 0.5 million barrels and the gasoline inventories were 2.1 million barrels. The Survey of Business Uncertainty report for November will be issued at 11.00 am ET. In the prior month, the sales growth was 3.81 percent and the employment growth was 4.08 percent. The Energy Information Administration or EIA's Natural Gas Report for the week will be revealed at 12.00 pm ET. In the prior week, the gas stock was down 3 bcf. The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America rig count was 784 and the U.S. rig count was 583. The seven-year Treasury Note auction will be held at 1.00 pm ET. Asian stocks turned in a mixed performance on Wednesday. China's Shanghai Composite index rallied 1.53 percent to 3,309.78 after data showed industrial profit decline eased to 10 percent year-on-year in October from 27.1 percent the previous month.Hong Kong's Hang Seng index jumped 2.32 percent to 19,603.13.Japanese markets retreated. The Nikkei average fell 0.80 percent to close at 38,134.97 and the broader Topix index finished 0.90 percent lower at 2,665.34.Australian markets advanced. The benchmark S&P/ASX 200 climbed 0.57 percent to 8,406.70 while the broader All Ordinaries index settled 0.55 percent higher at 8,659.60. For comments and feedback contact: editorial@rttnews.comBusiness News