The investors are keenly observing the U.S. President-elect Joe Biden's transition to the White House and the developments on the coronavirus vaccine front.
A slew of economic news will influence Wednesday's market movements. Early cues from the U.S. Futures Index suggest that Wall Street might open broadly lower.
Asian shares finished mixed, while European shares are trading lower.
As of 7.50 am ET, the Dow futures were sliding 72.00 points, the S&P 500 futures were down 5.75 points and the Nasdaq 100 futures were adding 27.25 points.
The U.S. major averages all ended with strong gains on Tuesday. The Dow ended up 454.64 points or 1.54 percent at 30,045.91, settling above the coveted 30,000 mark for the first time ever. The S&P 500 surged up 57.84 points or 1.62 percent to settle at 3,635.43, a record closing high, while the Nasdaq climbed 156.15 points or 1.31 percent to finish at 12,036.79.
On the economic front, the Commerce Department's Durable Goods Orders for October will be issued at 8.30 am ET. The consensus is for an increase of 0.9 percent, while it was up 1.9 percent in the prior month.
The Gross Domestic Product or GDP for the third quarter will be published at 8.30 am ET. The consensus is for growth of 33.1 percent, and it was up 33.1 percent in the previous quarter.
Census Bureau's International Trade in Goods for October will be released at 8.30 am ET. The consensus is for deficit of $80.8 billion, while the deficit in September was $79.4 billion.
The Labor Department's Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 730K, down from 742K in the previous week.
Corporate Profits for the third quarter is scheduled at 8.30 am ET.
The U.S. Commerce, the Housing and Urban Development Department's New Home Sales for October will be revealed at 10.00 am ET. The consensus is for 975K, up from 959K in the previous month.
The Commerce Department's Personal Income and Outlays for October will be released at 10.00 am ET. The consensus is for an increase of 0.1 percent, while it was up 0.9 percent in the previous month.
The Energy Information Administration or EIA's Petroleum Status Report for the week will be issued at 10.30 am ET. In the previous week, the Crude Oil Inventories were up 0.8 million barrels and the Gasoline Inventories were up 2.6 million barrels.
Asian stocks ended mixed on Wednesday. Chinese shares ended lower for the second straight day.The benchmark Shanghai Composite Index dropped 40.50 points or 1.2 percent to 3,362.33, while Hong Kong's Hang Seng Index added 54.76 points or 0.2 percent to 26,642.96.
Japanese shares again hit multi-year highs. The Nikkei 225 Index advanced 131.27 points or 0.5 percent to finish at 26,296.86, marking the highest close since May 9, 1991. The broader Topix rose 5.27 points or 0.3 percent to 1,767.67.
Australian stocks rose for the third straight day, reflecting gains by energy stocks and banks. The benchmark S&P/ASX 200 Index added 39.20 points or 0.6 percent to close at 6,683.30 and the broader All Ordinaries Index ended up 32.70 points or 0.5 percent to 6,888.20.
European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 159.54 points or 3.37 percent. The German DAX is losing 13.00 points or 0.10 percent, the U.K. FTSE 100 Index is down 36.76 points or 0.57 percent.
The Swiss Market Index is adding 18.58 points or 0.18 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.061 percent.
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