Import and Export Prices from the Labor Department for May, Business Inventories from the Commerce Department for April, and other economic developments are also noteworthy for the day.
The U.S. Futures Index indicates that Wall Street may be on the rise. Asian stocks ended the day mainly negative, while European stocks are up.
The Dow futures were up 153.00 points at 7.45 a.m. ET, the S&P 500 futures were up 25.00 points, and the Nasdaq 100 futures were up 105.00 points.
The Dow Jones Industrial Average fell 151.91 points, or 0.5 percent, to 30,364.83 on Tuesday. At 3,735.48, the S& P 500 lost 14.15 points or 0.38 percent.
The Retail Sales for May will be released at 8.30 a.m. ET on the economic front. The consensus predicts a 0.1 percent increase, up from 0.9 percent in April.
At 8.30 a.m. ET, the Fed will release the June Empire State Manufacturing Index. The consensus is for 5.5, down from 11.6 in May.
Labor Department Will Release The Import Prices Soon
At 8.30 a.m. ET, the Labor Department will release the May Import and Export Prices. Import prices are expected to rise by 1.2 percent. At 10:00 a.m., the Commerce Department will release the April Business Inventories.
At 10 a.m. ET, the National Association of Home Builders will release its June Housing Market Index. The current consensus is 68, down from 69 in May.
At 10 a.m. ET, the Atlanta Fed will release its June Business Inflation Expectations report. The expectation had risen by 3.7 percent in the previous month.
The Petroleum Status Report for the week will be released at 10.30 a.m. ET by the Energy Information Administration. Crude oil inventories increased by 2.0 million barrels last week, while gasoline inventories decreased by 0.8 million.
The Federal Open Market Committee, or FOMC, is expected to make a statement at 2:00 p.m. ET. The consensus fed funds target range is 1.25-1.50 percent, up from 0.75-1.00 percent in the previous quarter.
At 2.30 p.m. ET, the Fed Chair will hold a press conference.
At 4 p.m. ET, the Treasury International Capital data will be released. The previous month’s transactions totaled $23.1 billion.
Asian stocks concluded the day with a mixed bag. Stocks in China and Hong Kong rose. The Shanghai Composite index ended the day at 3,305.42, up to half a percent. The Hang Seng index in Hong Kong rose 1.14 percent to 21,308.21, as reported by RTT news.
