Wall Street goes down significantly

Housing starts and permits, May imports and exports, and the Federal Reserve Board’s press conference are major economic events of the day. Trading activity on Wednesday may continue to be curtailed.

Investors are enthusiastically watching the first meeting of President Joe Biden in Geneva and Russian President Vladimir Putin. The meeting may ensure stable relations between the two countries.

Asian stocks ended lower while European stocks were widely traded high.

At 7:45 am ET, Dow futures fell 50.00 points, S & P 500 futures fell 2.25 points and Nasdaq 100 futures rose 10.25 points.

The US major average closed all in the negative territory on Tuesday. The Nasdaq fell 101.29 points (0.7%) to 14,072.86, the Dow fell 94.42 points (0.3%) to 34,299.33, and the S & P500 fell 8.56 points (0.2%) to 4,246.59.

On the economic front, a May commercial and residential and urban development sector housing start and permit will be issued at 8:30 EST. The consensus was 1,630 million, which was 1,569,000 last month.

The May Labor Ministry’s imports and exports will be released at 8:30 EST. The consensus is up 0.7% from 0.7% last month.
The Atlanta Federation Business Inflation Expectations Survey Report for June will be published at 10 am Eastern Standard Time. Inflation expectations rose 2.8% last month.

This week’s Energy Information Agency or EIA Oil Status Report will be released at 10:30 EST. Crude oil inventories fell 5.2 million barrels last week and gasoline inventories increased 7 million barrels.
The Federal Reserve Board’s press conference will take place at 2:30 pm Eastern Standard Time.

Asian stocks fell sharply on Wednesday. China’s Shanghai Composite Index fell 38.23 points (1.07%) to 3,518.33.

Japanese stocks closed with a lower price. The Nikkei Stock Average fell 150.29 points (0.51%) to 29,291.01, while the broader Tokyo Stock Price Index closed at a slightly higher 1,975.86.

Australian person market It ended a little different.

European stocks are mostly traded high. Among the major indexes in the region, France’s CAC 40 index has risen by 5.77 points (0.09%). Germany’s DAX has lost 15.00 points or 0.11 percent, and the UK’s FTSE 100 Index has scored 1.17 points or 0.02 percent.

The Swiss Market Index adds 49.72 points or 0.42%.

The Eurostocks 50 Index, which summarizes the 50 best stocks in the euro area, is up 0.14%.

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Wall Street goes down significantly

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