Initial cues from the U.S. Futures Index suggest that Wall Street might open broadly higher. The coronavirus vaccine rollouts in the U.K. and fresh hopes for a stimulus deal in the U.S. are reflected on the market.
Asian shares finished higher, while European shares are trading mostly positive.
President-elect Joe Biden and his team are planning to provide coronavirus vaccines to more than 100 million people within the first 100 days of his presidency. In order to facilitate the administration looking for an emergency use authorization from the FDA.
As of 7.40 am ET, the Dow futures were adding 66.00 points, the S&P 500 futures were gaining 3.75 points and the Nasdaq 100 futures were sliding 19.00 points.
The U.S. major averages all ended modestly higher on Tuesday. The S&P 500 and the Nasdaq both posted new closing highs. The Dow ended higher by 104.61 points or 0.35 percent at 30,174.40. The S&P 500 moved up 10.29 points or 0.28 percent to settle at 3,702.25 and the tech-laden Nasdaq climbed 62.83 points or 0.5 percent to 12,582.77.
On the economic front, the Labor Department's Job Openings and Labor Turnover Survey or JOLTS report for October will be published at 10.00 am ET. The consensus is for 6.400 million, while it was 6.436 million in the previous month.
The Commerce Department's Wholesale Inventories for October will be published at 10.00 am ET. The consensus is for growth of 0.9 percent, while it was up 0.4 percent in September.
The Energy Information Administration or EIA's Petroleum Status report for the week will be revealed at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 0.7 million barrels and Gasoline Inventories were up 3.5 million barrels.
Ten-year Treasury Note Auction will be held at 1.00 pm ET.
Asian stocks rose broadly on Wednesday. Chinese shares fell. The benchmark Shanghai Composite index gave up 38.21 points, or 1.12 percent, to finish at 3,371.96, while Hong Kong's Hang Seng index rose 198.28 points, or 0.75 percent, to 26,502.84.
Japanese shares finished at a near 30-year high. The Nikkei average climbed 350.86 points, or 1.33 percent, to 26,817.94, its highest level since April 17, 1991. The broader Topix closed 1.17 percent higher at 1,779.42.
Australian markets rose for the seventh straight session.
The benchmark S&P/ASX 200 hit a fresh nine-month high before ending up 40.80 points, or 0.61 percent, at 6,728.50. The broader All Ordinaries index rose 43.20 points, or 0.62 percent, to 6,965.40.
European shares are trading mostly higher. Among the major indexes in the region, the German DAX is progressing 109.91 points or 0.83 percent, the U.K. FTSE 100 Index is gaining 16.54 points or 0.25 percent.
The Swiss Market Index is adding 46.37 points or 0.44 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.33 percent.
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