Wall Street Poised To Open Lower, Fed Speeches On Focus

The Fed speeches and the monthly jobs data might be in the spotlight on Friday.

Russia’s battle for Mariupol’s Azovstal steel plant is continuing. Ukraine said rescue operations are planned for today.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower on Friday.

Asian shares finished mostly lower, while European shares are declining.

As of 8.00 am ET, the Dow futures were losing 19.00 points, the S&P 500 futures were losing 1.00 points and the Nasdaq 100 futures were slightly up 0.50 points.

The U.S. major averages finished lower on Thursday. The Dow lost 1,063.09 points or 3.1 percent to 32,997.97, the Nasdaq plummeted 647.16 points or 5 percent to 12,317.69 and the S&P 500 tumbled 153.30 points or 3.6 percent to 4,146.87.

On the economic front, the Labor Department’s Employment Situation for April will be published at 8.30 am ET. The consensus is for 400,000, while it was up 431,000 in the prior month.

Unemployment rate is expected to increase 3.6 percent, while the consensus for Private Payment is 390,000.

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 793 and the U.S. Rig Count was 698.

The Fed Consumer Credit for March will be issued at 3.00 pm ET. The consensus is for $20.0 billion, while it was up $41.9 billion in the prior month.

New York Federal Reserve Bank President John Williams will give opening remarks before Environmental Economics and Policy event hosted by the Fed of New York and the Columbia University Center for Environmental Economics and Policy at 9.15 am ET.

Minneapolis Federal Reserve Bank President Neel Kashkari to participate in a fireside chat at the University of Minnesota Carlson School of Management MBA Reunion at 11.00 am ET.

Atlanta Federal Reserve Bank President Raphael Bostic to speak before the Georgia Tech 2022 Master’s Ceremony Commencement at 3.20 pm ET.

St. Louis Federal Reserve Bank President James Bullard to speak in panel discussion at Stanford University’s Hoover Institution at 7.15 pm ET.

Federal Reserve Board Governor Christopher Waller to participate in panel discussion at Stanford University’s Hoover Institution at 7.15 pm ET.

San Francisco Federal Reserve Bank President Mary Daly to give commencement speech before the spring Class 2022 at Utah Valley University at 8.00 pm ET.

Asian stocks fell sharply on Friday. China’s Shanghai Composite index fell 2.16 percent to 3,001.56.

Hong Kong’s Hang Seng index slumped 3.81 percent to 20,001.96.

Japan’s Nikkei index rose 0.69 percent to 27,003.56.

Australia’s benchmark S&P/ASX 200 fell 2.16 percent to 7,205.60.

European shares are trading down. Among the major indexes in the region, the CAC 40 Index of France is falling 215.01 points or 1.53 percent. The German DAX is losing 210.80 points or 1.51 percent, the U.K. FTSE 100 Index is declining 75.05 points or 1.01 percent.

The Swiss Market Index is plunging 106.79 points or 0.90 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.61 percent.

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