Manufacturing activity, Construction Spending, and Consumer Sentiment might be the focus on Friday.
Asian shares finished mostly up, while European shares are trading broadly higher.
Early signs from the U.S. Futures Index suggest that Wall Street might open in the negative.
As of 7.30 am ET, the Dow futures were down 75.00 points, the S&P 500 futures were sliding 6.00 points and the Nasdaq 100 futures were declining 4.50 points.
The U.S. major averages all moved to the upside on Thursday. The Nasdaq and S&P 500 reached new highs for the session in late-day trading before giving back some ground going into the close.
The tech-heavy Nasdaq jumped 144.18 points or 0.9 percent to 16,091.92 and the S&P 500 climbed 26.51 points or 0.5 percent to 5,06.27.
On the economic front, the Jobless Claims for the week will be released at 8.30 am ET. The consensus is for 210K, while it was up 202K in the prior week.
The Personal Income and Outlays for January will be issued at 8.30 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.3 percent in December.
The Chicago PMI for February will be published at 9.45 am ET. The consensus is 47.3, while it was up 46.0 in the prior month.
The Energy Information Administration or EIA’s Natural Gas Report for the week is scheduled at 10.30 am ET. In the prior week, the gas stock was down 60 bcf.
The Kansas City Fed Manufacturing Index for February will be revealed at 11.00 am ET. In the prior month, the manufacturing index was down 9.
The Farm Prices for January will be issued at 3.00 pm ET. In the prior month, the prices were down 0.4 percent.
Atlanta Fed President Raphael Bostic will speak on the economic outlook and real estate trends before the University of Florida’s Kelley A. Bergstrom Real Estate Center 2024 Trends and Strategies Conference at 12.15 pm ET.
Richmond Fed President Thomas Barkin will appear on CNBC’s ‘Squawk Box’ at 8.30 am ET.
San Francisco Fed President Mary Daly will participate in panel, ‘AI and the Labor Market’ before the 2024 U.S. Monetary Policy Forum hosted by the Chicago Booth School of Business at 1.30 pm ET.
Fed Governor Adriana Kugler will speak on ‘Pursuing the Dual Mandate’ before the 2024 Stanford Institute for Economic Policy Research (SIEPR) Economic Summit at 3.30 pm ET.
Asian shares turned in a mixed performance on Friday.
China’s Shanghai Composite index rose 0.39 percent to 3,027.02. Hong Kong’s Hang Seng index edged up 0.47 percent to 16,589.44.
Japanese markets hit a record high. The Nikkei average rallied 1.90 percent to a new closing high of 39,910.82, while the broader Topix index settled 1.26 percent higher at 2,709.42.
Australian markets rose notably. The benchmark S&P/ASX 200 rose 0.61 percent to 7,745.60. The broader All Ordinaries index closed 0.60 percent higher at 8,007.10.
European shares are trading mostly higher. CAC 40 of France is down 6.19 points or 0.08 percent. DAX of Germany is adding 87.19 points or 0.49 percent. FTSE 100 of England is progressing 47.68 points or 0.62 percent. The Swiss Market Index is up 62.83 points or 0.55 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.17 percent.
Business News
Futures Point To Lower Open For Wall Street
2024-03-01 12:53:55
