Wall Street Cautious And Might Open Lower Ahead Of FOMC, JOLT

The minutes of the FOMC meeting and the Labor Department’s job openings report are the major focus of the day. The FOMC minutes might point to a picture of the future of wages and employment. Geo-political tensions continues to be murky. The crisis in Spain seems to be settling, while Spanish Prime Minister Mariano Rajoy has not ruled out imposing direct rule in semi-autonomous region.

Asian shares closed mixed, while European shares are broadly on a negative note. Initial trends on U.S. Futures Index implied that Wall Street might open on a muted note.

As of 7 am ET, the Dow futures were slipping 6 points, the S&P 500 futures were shedding 1.50 points and the Nasdaq 100 futures were slipping 1.50 points.

U.S. stocks closed modestly higher on Tuesday. The Dow climbed 69.61 points or 0.3 percent to 22,830.68, the Nasdaq edged up 7.52 points or 0.1 percent to 6,587.25 and the S&P 500 rose 5.91 points or 0.2 percent to 2,550.64.

On the economic front, The Mortgage Bankers’ Association’s Mortgage applications for the week will be published at 7.00 am ET. In the previous week, the Composite Index declined 0.4 percent. Purchase Index was up 1.0 percent.

Chicago Federal Reserve Bank President Charles Evans will speak about current economic conditions and monetary policy in a moderated discussion at Bloomberg’s Second Annual Swiss Day event in Zurich at 7.15 am.

The Labor Department’s JOLTS report that tracks monthly change in job openings and offers rates on hiring and quits will be published at 10.00 am ET. The economists are looking for consensus of 6.160 million, compared to 6.170 million in July.

Three – year Treasury Note auction will be held at 11.30 am ET, while 10-year Treasury Note auction will be held at 1.00 pm ET.

The Federal Open Market Committee or FOMC minutes will be published at 2.00 pm ET.

San Francisco Federal Reserve Bank President John Williams will deliver a speech on community leaders in Salt Lake City, with audience Q&A at 2.40 pm ET.

In the…

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