September 04, 2013- Stocks Turn Cautious on Syrian Political Uncertainties

After staging a precarious rebound yesterday, Wall Street appears to have turned cautious once again, as uncertainties weigh. The major U.S. index futures point to a nervous opening on Wall Street on Wednesday. Earlier in the global trading day, Asian stocks turned in a mixed performance, while the European markets are seen extending their slide. The Syrian crisis could remain an overhang on the markets, with the latest development of the U.S. government securing bipartisan support for retaliatory action expected to intensify geopolitical concerns. Meanwhile, a lack of clarity on the economic outlook could also serve to mitigate risk appetite. In a bid to gain more clarity, traders are likely to focus on the Beige Book and a couple of Fed speeches scheduled for the day. The Dow futures are declining 23 points, the S&P 500 futures are moving down 2.10 points and the Nasdaq 100 futures are falling 1.75 points. U.S. stocks ended Tuesday's session higher, although off their early highs, as bargain hunting amid easing economic fears generated buying interest.