The latest U.S. economic data, especially Existing Home Sales might be the focus on Friday.
Initial trends on the U.S. Futures Index suggest that Wall Street might open lower. Asian shares were mostly down, while European shares are trading in the negative territory.
As of 8.05 am ET, the Dow futures were declining 28.00 points, the S&P 500 futures were down 9.50 points and the Nasdaq 100 futures were sliding 37.75 points.
The U.S. major averages finished mostly lower on Thursday. The Dow ended the day up 299.90 points or 0.8 percent at a nearly one-month closing high of 39,134.76, but the S&P 500 fell 13.86 points or 0.3 percent to 5,473.17 and the Nasdaq slumped 140.64 points or 0.8 percent to 17,721.59.
On the economic front, the PMI Composite Flash Index for June will be published at 9.45 am ET. The consensus for manufacturing Index is 51.3, while it was up 50.9 in the prior month. The Services Index consensus is 53.7, while it was up 54.8 in May. The Composite Index in the prior year was 54.5.
The Existing Home Sales for May will be released at 10.00 am ET. The consensus is for an increase of 4.10 million, while it was up 4.14 million in the prior month.
The Leading Indicators for May is scheduled at 10.00 am ET. The consensus is for a decline of 0.3 percent, while it was down 0.6 percent in April.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be released at 10.30 am ET. In the prior week, the gas stock was up 74 bcf.
The Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, the North America rig count was 750 and the U.S. rig count was 590. The Canada rig count was 160.
Asian stocks fell on Friday. China’s Shanghai Composite index slipped 0.24 percent to 2,998.14.
Hong Kong’s Hang Seng index fell 1.67 percent to 18,028.52. Japanese markets ended a choppy session marginally lower at 38596.47, down 36.55 points or 0.09 percent.
Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 0.34 percent to 7,796. The broader All Ordinaries index closed up 0.35 percent at 8,039.90.
European shares are trading lower. The CAC 40 Index of France is falling 45.35 points or 0.59 percent. The German DAX is down 95.82 points or 0.52 percent, the U.K. FTSE 100 Index is sliding 52.15 points or 0.63 percent. The Swiss Market Index is at 11,999.59 down 128.57 points or 1.05 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is progressing 0.67 percent.
Business News
Wall Street Might Open In Negative Zone
2024-06-21 12:29:40
