The main U.S. index futures pointed to a lower opening on Wednesday, reflecting the mood of a careful arrangement of traders among some disappointing economic data. In a report released earlier in the day showed that the U.S. private sector added far fewer jobs than expected. The report considered the forerunner for non-agricultural report of the Ministry of Labor wage bill is likely to increase uncertainty about the latter. Thus, the markets were able to observe the session in which the lack of direction, if the results of a survey of the Institute for Supply Management did not lead them in a certain direction.
U.S. stocks fell on Tuesday as concerns about trimming the stimulus the Fed came back to haunt investors. The major indexes opened higher after a report showed the U.S. trade balance widened by less than expected. After moving with modest results before the end of morning trading, indexes fell below the line unchanged. The indices were down after that, before paring back some of the losses in late trading.
Industrial Dow fell 76.49 points, or 0.50 per cent to 15,178 and S & P 500 Index closed 9.04 points, or 0.55 per cent lower in 1361, while the Nasdaq Composite closed at 3445, up 20.11 points, or 0.50 per cent.
Nineteen of the thirty Dow components closed lower, with Alcoa (AA), Boeing (BA), Bank of America (BAC), Home Depot (HD), Hewlett-Packard (HPQ), IBM (IBM), Microsoft (MSFT) and United Technologies (UTX), leading declines. On the other hand, Coca-Cola (KO), Merck (MRK) and AT & T (T) advanced features.
Gold, biotechnology, oil, banking and retail stocks were among the outsiders of the session.
Currency, commodity markets
Crude oil futures are rising $ 0.46 to $ 93.77 a barrel after slipping $ 0.14 to $ 93.31 a barrel on Tuesday. An ounce of gold is currently trading at $ 1,403, up $ 5.80 from the previous session, closing at $ 1,397.20. In the previous session, the precious metal fell to $ 14.70.
Among currencies, the U.S. dollar traded at 99.62 yen compared with 100.03 yen it brought at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $ 1.3073 compared with $ 1.3081 yesterday.
Asia
Major Asian markets fell across the board, stung by the negative lead from Wall Street overnight and the uncertainty of the prospects of monetary policy in the U.S. Some sour domestic economic reports and the strengthening of the yen, despite the policy measures announced by the Government and weighed on the markets.
Japan's benchmark Nikkei 225 average does not move in a nervous way to the end of the day, moving in and out of positive territory before declining sharply thereafter. The index fell 518.89 points, or 3.83 percent to close at 13,015. Sale was broad based, with Tokyo Electric Power falling 16.31 percent and leading declines.
Australia All Ordinaries opened little changed, but fell sharply in the first half of the day. After the index is shifted toward before closing 61.50 points, or 1.26 per cent in 4825, while domestic GDP data disappointed to the downside. The market witnessed a broad-based sell-off, financial and energy stocks leading position below.
Hong Kong's Hang Seng Index closed at 22,069, up 216.28 points, or 0.97 percent. The averages in Singapore and South Korea slipped 1 percent each.
On the economic front, in his speech, touted as a "third arm" growth strategy, the Japanese Prime Minister Shinzo Abe laid out a plan to rejuvenate the ailing economy of the country with plans to increase per capita income by 3 percent per year, to increase capital spending by 10 percent during the the next three years, and set up special economic zones to attract foreign companies. But the lack of specific details have disappointed investors.
Measure of activity in the Chinese service sector showed little change in the levels of activity in May. Data collected by HSBC and Markit Economics showed that the index of business activity in the service sector grew only by 0.1 points to 51.2. The composite index, which measures activity in both manufacturing and non-production sector fell to 50.9 from 51.1 in April.
A report published by the Australian Bureau of Statistics showed that Australia's first quarter GDP grew by 0.6 percent quarter over the previous quarter. Economists had expected a greater expansion of 0.8 percent.
Europe
European stocks are also seeing weakness, as the economic problems of stress released some lukewarm economic data. Traders also exercised caution ahead of the U.S. employment data.
In economic news, the final estimates released by Markit Economics, showed that private sector activity in the euro area declined at a slower pace in May. The final composite output index rose to 47.2 in May from 46.9 in April. The reading was in line with the initial estimate. Reading the service sector was revised down to 47.2 from 47.7.
In the survey, Markit Economics and the Chartered Institute of Purchasing and Logistics showed that the index is seasonally adjusted purchasing managers for the UK service sector rose to 54.9 in May from 52.9 in April, marking the fifth consecutive growth. The index was forecast to rise to 53.1.
The revised GDP estimates released by Eurostat showed that the euro zone economy contracted by 0.2 percent sequentially in the first quarter, according to estimates. A separate report released by Eurostat showed that retail sales fell 0.5 percent month over month in April compared with a 0.2 percent drop in March. Economists had expected a drop of 0.2 percent.
