Federal Reserve Chair Jerome Powell’s remarks are likely to be in focus on Friday.
The Hiroshima summit of G7 countries has agreed to “starve” the Russian war machine and demanded the withdrawal of troops and military equipment from the territory of Ukraine.
Investors are mulling the U.S. Treasury Secretary Janet Yellen’s comment that a failure to raise the debt ceiling would be “catastrophic” for the U.S. financial system.
Wall Street is looking ahead to reaching an agreement to avert a debt default.
As of 7.45 am ET, the Dow futures were gaining 70.00 points, the S&P 500 futures were adding 8.25 points, and the Nasdaq 100 futures were up 2.75 points.
The U.S. major averages closed higher on Thursday. The Nasdaq surged 188.27 points or 1.5 percent to 12,688.83, the S&P 500 jumped 39.28 points or 0.9 percent to 4,198.05 and the Dow rose 115.14 points or 0.3 percent to 33,535.91.
On the economic front, the Quarterly Services Survey for the first quarter will be released at 10.00 am ET. In the prior quarter, the selected services revenue was up 1.6 percent. Quarterly information revenue was up 5.3 percent in the prior period.
The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America Rig Count was 825, and the U.S. Rig Count was 731.
Asian stocks ended mixed on Friday. Chinese shares ended lower. The benchmark Shanghai Composite index dropped 0.42 percent to 3,283.54 while Hong Kong’s Hang Seng index fell 1.40 percent to 19,450.57.
Japanese stocks were trending up. The Nikkei rose 0.77 percent to 30,808.35. The broader Topix index ended 0.18 percent higher at 2,161.69.
Australian markets rose today. The benchmark S&P/ASX 200 gained 0.59 percent to close at 7,279.50 while the broader All Ordinaries index settled 0.60 percent higher at 7,471.50.
European shares are trading positive. The CAC 40 Index of France is adding 54.28 points or 0.73 percent. The German DAX is gaining 100.99 points or 0.63 percent, the U.K. FTSE 100 Index is up 36.37 points or 0.47 percent. The Swiss Market Index is adding 113.78 points or 0.99 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is progressing 0.78 percent.
Business News
Wall Street Set To Open Positive
2023-05-19 12:09:29
