Fed Chair Jerome Powell’s congressional testimony as well as fed speeches might get special attention on Wednesday.
Early cues from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished down, while European shares are trading in a negative zone.
As of 7.35 am ET, the Dow futures were down 23.00 points, the S&P 500 futures were declining 4.00 points and the Nasdaq 100 futures were sliding 29.25 points.
The U.S. major averages all finished Tuesday in negative territory. The Dow slid 245.25 points or 0.7 percent to 34,053.87, the S&P 500 fell 20.88 points or 0.5 percent to 4,388.71 and the Nasdaq dipped 22.28 points or 0.2 percent to 13,667.29.
On the economic front, the twenty-year Treasury Bond Auction will be held at 1.00 pm ET.
Federal Reserve Board Governors Lisa Cook and Philip Jefferson’s nomination hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs at 10.00 am ET.
Federal Reserve Chairman Jerome Powell’s semiannual monetary policy report to Congress before the U.S. House Financial Services Committee at 10.00 am ET.
Chicago Federal Reserve Bank President Austan Goolsbee to participate in a question-and-answer session before the Wall Street Journal Global Food Forum at 12.25 pm ET.
Cleveland Federal Reserve Bank President Loretta Mester to speak during the welcome social before the Policy Summit 2023 at 4.00 pm ET.
Asian stocks fell broadly on Wednesday. Chinese shares. The benchmark Shanghai Composite index fell 1.31 percent to 3,197.90 ahead of market holidays on Thursday and Friday.
Hong Kong’s Hang Seng index slumped 1.98 percent to 19,218.35.
Japanese shares advanced after the Bank of Japan’s April meeting minutes showed that most board members had no intention of altering the central bank’s ultra-loose policy in the near-term.
The Nikkei average recovered from an early slide to end 0.56 percent higher at 33,575.14, with insurers, transport, chip-related shares, and SoftBank Group leading the surge. The broader Topix index ended up 0.49 percent at 2,295.01.
Australian markets snapped a seven-day winning streak. The benchmark S&P/ASX 200 dropped 0.58 percent to 7,314.90, marking its biggest single-day loss since June 6.
The broader All Ordinaries index fell 0.57 percent to 7,505.60.
European shares are trading lower. CAC 40 of France is down 20.49 points or 0.28 percent. DAX of Germany is declining 26.65 points or 0.18 percent. FTSE 100 of England is down 13.45 points or 0.17 percent. Swiss Market Index is sliding 5.90 points or 0.05 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.12 percent.
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