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Nov 30, 2016

U.S. Stock Market Future Indications - November 30, 2016: Wall Street Points to Higher Open on Soaring Oil Prices; OPEC Meeting in Focus

cnbc.com
 
Sam Meredith
 
U.S. stock index futures pointed to a higher open on Wednesday as traders eyed a sharp jump in oil prices ahead of a potential production cut deal from OPEC.

In oil markets, Brent crude traded at around $50.10 a barrel on Wednesday morning, up 8 percent, while U.S. crude was around $48.75 a barrel, up 7.7 percent.
OPEC began on Wednesday debating a deal to curtail oil production in an effort to prop up the price of crude with Iran and Iraq under pressure from Saudi Arabia to participate fully in any action, according to a Reuters report.
Wednesday will see a host of data reports starting with ADP payrolls for November at 8:15 a.m. ET. Personal income, consumer spending and core PCE prices for October follow at 8:30 a.m. ET. Chicago PMI, pending home sales, NY Fed household debt and the latest beige book report will also be released throughout the trading day.
On the earnings front, PVH, Box, Guess and Pure Storage are all due to report after the market close.
In Europe, the pan-European Stoxx-600 index was around 0.18 percent higher on Wednesday. In Asia, the Shanghai Composite in China closed 0.98 percent lower, while the Nikkei in Japan closed 0.01 percent higher.