In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 is at 16745.64 for a gain of 149.13 points or 0.90 percent. Hong Kong’s Hang Seng Index is at 22799.78 for a loss of -111.06 points or -0.48 percent. China’s Shanghai Composite is at 3109.55 for a loss of -0.48 points or -0.02 percent. India’s S&P BSE Sensex is at 28005.37 for a loss of -59.24 points or -0.21 percent. In Europe, the FTSE 100 is at 6881.63 for a loss of -12.29 points or -0.18 percent. Germany’s DAX is at 10557.39 for a loss of -119.26 points or -1.12 percent. France’s CAC 40 is at 4433.14 for a loss of -27.30 points or -0.61 percent. The Stoxx Europe 600 is at 341.62 for a loss of -1.70 points or -0.50 percent.
Wednesday’s Factors and Events
On the economic calendar for Wednesday is MBA Mortgage Applications, the Atlanta Fed Business Inflation Expectations and the EIA Petroleum Status Report.
The Federal Open Market Committee meeting minutes from July will be released at 2:00 PM EST. Fed official, James Bullard will also speak on Wednesday. The market will be closely watching both the Fed minutes and the comments from James Bullard. Economic data has been improving which makes a Fed rate increase more likely however the market is very uncertain of the timing. Political issues toward the end of 2016 could cause the Fed to wait until December however many investors believe September is a likely option.
In the pre-market, stocks trading actively on Wednesday include the following:
TJX Companies Inc
Earnings continue to slow however retail stocks remain in focus. On Wednesday approximately 30 companies will report earnings. Stocks to watch include Lowe’s, Target and Staples, reporting earnings before the opening bell.
For the day the Dow Jones Industrial Average closed at 18552.02 for a loss of -84.03 points or -0.45 percent. The S&P 500 was also down, closing at 2178.15 for a loss of -12.00 points or -0.55 percent. The Nasdaq Composite closed lower at 5227.11 for a loss of -34.90 points or -0.66 percent.
Other notable index closes in the U.S. included the small-cap Russell 2000 Index, lower at 1231.13 for a loss of -10.73 points or -0.86 percent; the S&P 600 Index, lower at 745.71 for a loss of -5.25 points or -0.70 percent; the S&P 400 Mid-Cap Index closing at 1553.79 for a loss of -15.31 points or -0.98 percent; the S&P 100 Index closing at 964.56 for a loss of -4.26 points or -0.44 percent; the Russell 3000 Index closing at 1287.10 for a loss of -7.88 points or -0.61 percent; the Russell 1000 Index closing at 1206.41 for a loss of -7.13 points or -0.59 percent; and the Dow Jones U.S. Select Dividend Index closing at 616.67 for a loss of -4.43 points or -0.71 percent.