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Wall Street Leans Back Pre-Bell; Futures Red, Europe Down, Asia Up

MT Newswires logo MT Newswires 10/5/2022 MT Newswires

Primary Image © MT Newswires Primary Image Wall Street was leaning back pre-bell Wednesday with broad-market futures firmly below Tuesday's closes, as traders assess equity values after two sessions of strong gains.

In the futures, the S&P 500 fell 0.8%, the Nasdaq declined 0.7% and the Dow Jones was off 0.7% before the start of trading.

Asian exchanges finished mostly higher overnight led by a 5.9% gain in Hong Kong, where trading floors had been closed on Tuesday. European bourses tracked solidly lower at midday.

RMP International (RPM), Lamb Weston (LW), and Helen of Troy (HELE) plan to report earnings pre-bell, among others.

On the economic calendar, the MBA's weekly index of mortgage application activity posts at 7 am ET.

The ADP September national employment report posts at 8:15 am, and is considered a precursor to Friday's national employment bulletin.

The international trade in goods and services for August report posts at 8:30 am ET.

The September PMI composite report posts at 9:45 am ET, and the ISM services index for September posts at 10:00 am.

The Energy Information Administration's weekly report on domestic oil inventories is slated for a 10:30 am release.

Federal Reserve Bank of Atlanta President Raphael Bostic speaks at 4 pm.

In pre-market action, Bitcoin traded at $20,121, West Texas Intermediate crude oil traded higher at $87.26, and 10-year US Treasuries offered 3.69%. Gold traded for $1,710 an ounce.

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