Wall Street set to open on the front foot

After slipping back on Tuesday, Wall Street is expected to move a little higher at the opening bell later today. The Dow Jones Industrial Average is forecast to add 93 points or 0.26% on the day of its 125th anniversary, while the S&P 500 is set to rise 0.31% and the Nasdaq Composite is poised to climb 0.35%. Comments from Federal Reserve members seemed to have eased the immediate concerns that the US central bank will withdraw its support for the economy in the immediate future. Fed vice-chair Richard Clarida had indicated the bank may start talking about talking about tapering, but there appears to be no rush to make any actual move. US 10 year Treasury yields, which hit a one month high earlier in May on the expectation of rising rates, are virtually flat at 1.567%, up from 1.563%. On the corporate front Urban Outfitters is up 9.78% in pre-market. The retailer announced record sales in the first quarter after the market closed on Tuesday. Four things to watch for on Wednesday: Major firms in the earnings diary today include computer processor maker NVIDIA Corp (NASDAQ:NVDA), cloud computing group Snowflake Inc (NYSE:SNOW) and human resources software firm Workday Inc (NASDAQ:WDAY) Investors may be keeping an eye on any news from AGMs at Amazon Inc (NASDAQ:AMZN) and Facebook Inc (NASDAQ:FB) which are due to be held today Crypto markets are also going to draw attention with Bitcoin hovering around the US$40,000 mark earlier today There is little going on in the macro diary, although speeches from a number of Fed representatives may draw some attention