Geopolitical developments, especially the Israel, Lebanon strike might be influencing investor sentiments on Friday. On a lean day of economic announcements, the Producer Price Inflation report and the Fed talks might get attention.
The death toll of hurricane Milton increased to 16 as it continue to slam Florida. More than 1000 people were rescued yesterday. The power outage has affected around 3 million residents.
Destructions are continuing as the wind gusts at more than 100 mph speed in many parts of the State.
Asian shares finished lower, while European shares are trading mostly up. Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
In the Asian trading session, the dollar weakened and gold prices surged. Oil eased after a rally in the previous session.
As of 8.10 am ET, the Dow futures were gaining 19.00 points, the S&P 500 futures were declining 1.50 points and the Nasdaq 100 futures were falling 38.50 points.
The U.S. major averages closed in the red on Thursday. The Dow slipped 57.88 points or 0.1 percent to 42,454.12, the Nasdaq edged down 9.57 points or 0.1 percent to 18,282.05 and the S&P 500 dipped 11.99 points or 0.2 percent to 5,780.05.
On the economic front, the Chicago Fed President Austan Goolsbee gives opening remarks before the 18th Annual Community Bankers Symposium, hosted by the Federal Reserve Bank of Chicago at 9.45 am ET.
Dallas Fed President Lorie Logan will participate in panel before the Fed Home Loan Bank of Dallas Women in Financial Services Conference at 10.45 am ET.
Fed Governor Michelle Bowman speaks before the 18th Annual Community Bankers Symposium hosted by the Federal Reserve Bank of Chicago at 1.10 pm ET.
The Producer Price Index or PPI for September will be issued at 8.30 am ET. The consensus is for an increase of 0.2 percent, while it was up 0.2 percent in the prior year.
Asian stocks ended mixed on Friday. China’s Shanghai Composite index fell 2.55 percent to 3,217.74. Hong Kong markets remained closed for the Chung Yeung festival.
Japanese markets advanced. The Nikkei average rose 0.57 percent to 39,605.80. The broader Topix index settled 0.24 percent lower at 2,706.20.
Australian markets ended slightly lower. The benchmark S&P/ASX 200 slipped 0.10 percent to 8,214.50 while the broader All Ordinaries index finished marginally lower at 8,491.50.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is declining 0.86 points or 0.01 percent. The German DAX is progressing 28.35 points or 0.15 percent, the U.K. FTSE 100 Index is down 6.16 points or 0.07 percent.
The Swiss Market Index is gaining 14.32 points or 0.12 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.065 percent.
Business News
Futures Point To Broadly Lower Open For Wall Street
2024-10-11 12:34:44
