The U.S. Dollar Index is trading at 94.65 up with +0.06% percent or +0.05 point. The Dow Futures is trading at 24,222.00 up with +0.24% percent or +59.00 point. The S&P 500 Futures is trading at 2,721.50 up with +0.30% percent or +8.25 point. The Nasdaq Futures is trading at 7,047.75 up with +0.34% percent or +24.00 point.
TODAY’S FACTORS AND EVENTS
Major currencies marked time on Wednesday and the Chinese yuan recovered from 11-month lows after authorities took steps on Tuesday to calm financial markets rattled by trade war worries.
Both the yuan and Chinese equity markets have been on edge ahead of July 6, when U.S. tariffs on $34 billion worth of Chinese goods take effect. Beijing has said it will retaliate with tariffs on U.S. products.
The onshore yuan last traded at 6.6299 against the dollar, up 0.21 percent on the day, after opening at 6.6365.
At one point on Tuesday the yuan hit 6.7204 per dollar, its weakest level since early August, before sharply rebounding on reassuring remarks from Yi Gang, Governor of the People’s Bank of China.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 24,174.82 with a loss of -0.54% percent or -132.36 point. The S&P 500 is trading at 2,713.22 with a loss of -0.49% percent or -13.49 point. The Nasdaq Composite is trading at 7,502.6 with a loss of -0.86% percent or -65.01 point.
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,660.42 up with +0.32% percent or +5.33 point; the S&P 600 Small-Cap Index closed at 1,028.93 up with +0.16% percent or +1.65 point; the S&P 400 Mid-Cap Index closed at 1,957.35 up with +0.19% percent or +3.70 point; the S&P 100 Index closed at 1,191.76 with a loss of -0.64% percent or -7.70 point; the Russell 3000 Index closed at 1,618.04 with a loss of -0.39% percent or – 6.35 point; the Russell 1000 Index closed at 1,507.65 with a loss of -0.45% percent or -6.84 point;