Retail Sales and Industrial Production reports might be the focus on Friday. Early trends on the U.S. Futures Index suggest that Wall Street might open lower.
In the Asian trading session, gold hovered near $2,560 per ounce, while oil prices were set for a weekly loss on concerns.
Asian shares finished mostly lower, while European shares are trading mostly down.
The U.S. major averages ended Friday lower. The Dow slid 207.33 points or 0.5 percent to 43,750.86, the Nasdaq fell 123.07 points or 0.6 percent to 19,107.65 and the S&P 500 declined 36.21 points or 0.6 percent to 5,949.17.
As of 7.35 am ET, the Dow futures were falling 166.00 points, the S&P 500 futures were down 31.00 points and the Nasdaq 100 futures were sliding 166.75 points.
On the economic front, the Retail Sales for October will be issued at 8.30 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.4 percent in the prior month.
The Empire State Manufacturing Index for November will be released at 8.30 am ET. The consensus is for 0.0, while it was down 11.9 in October.
The Labor Department’s Import and Export Prices for October will be published at 8.30 am ET. The consensus is for negative 0.1 percent, while it was negative 0.4 percent in the prior month.
Industrial Production for October is expected at 9.15 am ET. In September, the Industrial Production was down 0.3 percent, and the manufacturing output was down 0.4 percent.
The Business Inventories conference for September is scheduled at 10.00 am ET. In the prior month, the inventories were up 0.3 percent.
The Baker Hughes Rig Count for the week will be announced at 1.00 pm ET. In the prior week, the North America rig count was 792 and the U.S. rig count was 585.
Boston Fed President Susan Collins will give opening remarks before the Federal Reserve Bank of Boston 68th economic conference, ‘The Future of Finance: Implications of Innovation’ at 9.00 am ET. She will also participate in an interview with Bloomberg TV at 11.55 am ET.
Fed Reserve of New York will release text of opening remarks of President John Williams before closed event, ‘New York Fed Alumni: Celebrating 100 Years of Making Our Mission Possible’.
Asian stocks turned in a mixed performance on Friday. China’s Shanghai Composite index fell 1.45 percent 3,330.73. Hong Kong’s Hang Seng index finished marginally lower at 19,426.34.
Japanese markets eked out modest gains. The Nikkei average rose 0.28 percent to 38,642.91. The broader Topix index settled 0.39 percent higher at 2,711.64.
Australian markets rose notably. The benchmark S&P/ASX 200 climbed 0.74 percent to 8,285.20. The broader All Ordinaries index gained 0.70 percent to close at 8,539.
European shares are trading mostly lower. CAC 40 of France is down 5.70 points or 0.08 percent. DAX of Germany is declining 17.37 points or 0.09 percent. FTSE 100 of England is progressing 12.09 points or 0.15 percent. The Swiss Market Index is falling 110.62 points or 0.94 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.31 percent.
Business News
Initial Cues Suggest Wall Street To Open Lower
2024-11-15 13:04:20
