Wall Street To Open In Negative Zone After Fed Shutdown

(RTTNews) - Market sentiments on Wednesday will be dominated by the U.S. Federal Government shutdown, and investors are actively speculating how long it will continue. The political deadlock, the first in around six years, might continue to influence market movements for the next several days and there could be delays in economic reports, including Friday's non-farm payrolls data.

In the Asian trading session, gold hovered near a record high, while the dollar fell against major currencies. Oil ticked higher.

Asian shares finished mostly up, while European shares are trading higher.

Early cues from the U.S. Futures Index suggest that Wall Street might open lower.

As of 8.20 am ET, the Dow futures were losing 148.00 points, the S&P 500 futures were down 28.25 points and the Nasdaq 100 futures were sliding 119.75 points.

The U.S. major averages closed in positive territory on Tuesday. The S&P 500 climbed 27.25 points or 0.4 percent to 6,688.46, the Nasdaq rose 68.86 points or 0.3 percent to 22,660.01 and the Dow increased 81.82 points or 0.2 percent at 46,397.89.

On the economic front, the PMI Manufacturing Final for September will be issued at 9.45 am. The consensus is 52.0, while the flash reading of 52.0 in the prior month.

The ISM Manufacturing Index for September will be released at 10.00 am ET. The consensus is 49.0, while it was up 48.7 in the prior month.

The Commerce Department's Construction Spending data for August is scheduled at 10.00 am ET. The consensus is for a decline of 0.1 percent, while it was down 0.1 percent in the prior month.

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 0.6 million barrels, while gasoline inventories were down 1.1 million barrels.

Four month Treasury bill auction will be held at 11.30 am ET.

Richmond Fed President Thomas Barkin will speak before the Economic Outlook Conference hosted by the University of North Carolina, Wilmington Swain Center at 12.15 pm ET.

Asian stocks ended mixed on Wednesday. Chinese and Hong Kong markets closed for the National Day holiday.

Japanese markets ended sharply lower. The Nikkei 225 Index slid 0.9 percent to 44,850.85, while the broader Topix Index settled 1.4 percent lower at 3,094.74.

Australian markets closed on a flat note.

New Zealand's benchmark S&P/NZX-50 Index shot up 1.1 percent to 13,433.99.

European shares are trading positive. Among the major indexes in the region, the CAC 40 Index of France is gaining 31.08 points or 0.39 percent. The German DAX is adding 86.04 points or 0.36 percent, the U.K. FTSE 100 Index is climbing 58.20 points or 0.62 percent.

The Swiss Market Index is progressing 190.18 points or 1.57 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.35 percent.