Futures Suggests Wall Street To Open Broadly Up

The consumer Price Inflation report might be of importance on Friday.

Early signs from the U.S. Futures Index suggest that Wall Street might open broadly higher.

Asian shares finished mostly down, while European shares are trading lower.

As of 7.35 am ET, the Dow futures were declining 35.00 points, the S&P 500 futures were adding 0.50 points and the Nasdaq 100 futures were progressing 33.25 points.

The U.S. major averages ended Thursday’s session lower. The Dow tumbled 638.11 points or 1.9 percent to 32,272.79, the Nasdaq plunged 332.05 points or 2.8 percent to 11,754.23 and the S&P 500 dove 97.95 points or 2.4 percent to 4,017.82.

On the economic front, the Labor Department’s the Consumer Price Index for May will be revealed at 8.30 am ET. The consensus is for an increase of 0.7 percent, while it was up 0.3 percent in the prior month.

The University of Michigan’s Consumer Sentiment for June will be published at 10.00 am ET. The consensus is 58.5, while it was up 58.4 in May.

The Census Bureau quarterly services survey for the first quarter is scheduled at 10.00 am ET. In the prior quarter, the selected services revenue were down 2.3 percent.

The Baker Hughes Rig Count for the week will be revealed at 1.00 pm ET. In the prior week, the North America Rig Count was 844, while the U.S. Rig Count was 727.

The Treasury Department’s Statement for May will be published at 2.00 pm ET. The consensus is for a deficit of $275.0 billion, while it was a surplus of $308.2 billion.

Asian stocks finished lower on Friday. Chinese shares rose sharply. The benchmark Shanghai Composite index jumped 1.42 percent to 3,284.83.

Hong Kong’s Hang Seng index slipped 0.29 percent to 21,806.18.

Japanese shares finished lower. The Nikkei average fell 1.49 percent to 27,824.29. The broader Topix index closed 1.32 percent lower at 1,943.09.

Australian markets ended lower. The benchmark S&P/ASX 200 index dropped 1.25 percent to 6,932 and closed the week down 4.2 percent. The broader All Ordinaries index closed 1.31 percent lower at 7,145.20.

European shares are trading lower. CAC 40 of France is down 109.44 points or 1.72 percent. DAX of Germany is declining 187.63 points or 1.31 percent. FTSE 100 of England is sliding 90.63 points or 1.21 percent. Swiss Market Index is losing 169.18 points or 1.49 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.65 percent.

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