Trader sentiments on Friday might be around the November Employment Situation report as they wait for cues about inflation expectations. Fed speeches also might get attention.
In the Asian trading session dollar weakened, resulting in an increase in gold prices.
Asian shares finished mixed, while European shares are trading mostly up. Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower.
As of 7.45 am ET, the Dow futures were down 33.00 points, the S&P 500 futures were losing 4.50 points and the Nasdaq 100 futures were progressing 3.50 points.
The U.S. major averages eventually ended Thursday in negative territory. The Dow slid 248.33 points or 0.6 percent to 44,765.71, while the Nasdaq dipped 34.86 points or 0.2 percent to 19,700.26 and the S&P 500 edged down 11.38 points or 0.2 percent to 6,075.11.
On the economic front, the Employment Situation for November will be issued at 8.30 am ET. The consensus is 211,000, while it was up 12000. The Unemployment Rate is expected to be up 4.2 percent, while it was up 4.1 percent in October. The private payrolls is expected to be 200,000, while it was down 28,0000. The consensus for manufacturing payrolls is 25000, while it declined 46000 in the prior month. Average hourly earnings is expected to increase 0.3 percent, while it was up 0.4 percent in the prior month.
The Michigan University’s Consumer Sentiment for December is scheduled at 10.00 am ET. The consensus is 73.0, while it was 71.8 in November.
The Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, the North America rig count was 787, while the U.S. rig count was 582.
The Consumer Credit for October will be published at 3.00 pm ET. The consensus is for an increase of $10 billion, while it was at $6.0 billion in the prior month.
Fed Governor Michelle Bowman will participate virtually in discussions before the Missouri Bankers Association Executive Management Conference at 9.15 am ET.
Cleveland Fed President Beth Hammack will speak on the economic outlook before the City Club of Cleveland Friday Forum at 12.00 pm ET.
San Francisco Fed President Mary Daly will participate in ‘Emerging Technology and the Economy’ conversation hosted by the Hoover Institution at 1.00 pm ET.
Asian stocks ended mixed on Friday. China’s Shanghai Composite index jumped 1.05 percent to 3,404.08. Hong Kong’s Hang Seng index climbed 1.56 percent to 19,865.85.
Japanese markets ended lower. The Nikkei average dropped 0.77 percent to 39,091.17 while the broader Topix index settled 0.55 percent lower at 2,727.22.
Australian markets declined. The benchmark S&P/ASX 200 fell 0.64 percent to 8,420.90. The broader All Ordinaries index closed down 0.63 percent at 8,689.30.
European shares are trading mostly higher. CAC 40 of France is surging 101.60 points or 1.39 percent. DAX of Germany is up 51.99 points or 0.26 percent. FTSE 100 of England is declining 8.67 points or 0.10 percent. The Swiss Market Index is up sliding 10.84 points or 0.09 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.60 percent.
Business News
Wall Street Poised To Open Broadly Lower
2024-12-06 13:14:55
