Wall Street Aims To Bounce Back At Open

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

Asian shares finished mixed, while European shares are trading lower.

Earnings reports might be the focus on Friday. Intel (INTC) and other majors shall report their quarterly results after the close of trading.

American Express (AXP) and Honeywell (HON) are also among the companies due to report their results before the start of trading on Friday.

The Commerce Department’s report on New Home Sales for March might get special attention.

As of 7.45 am ET, the Dow futures were adding 8.00 points, the S&P 500 futures were gaining 7.00 points and the Nasdaq 100 futures were progressing 16.75 points.

The U.S. major averages all pulled back sharply on Thursday and closed firmly in negative territory. The Dow tumbled 321.41 points or 0.9 percent to 33,815.90, the Nasdaq slumped 131.81 points or 0.9 percent to 13,818.41 and the S&P 500 slid 38.44 points or 0.9 percent to 4,134.98.

On the economic front, the Flash Composite Purchasing Manager’s Index or PMI for April will be issued at 9.45 am ET. The consensus is for 59.5, while it was up 59.1 in the prior month.

The U.S. Commerce and the Housing and Urban Development departments New Home Sales for April will be published at 10.00 am ET. The consensus is for 887K, while it was up 775K in the prior month.

Asian stocks turned in a mixed performance on Friday. Chinese shares advanced. The benchmark Shanghai Composite index rose 9.05 points, or 0.26 percent, to 3,474.17, while Hong Kong’s Hang Seng index ended up 323.41 points, or 1.12 percent, at 29,078.75.

Japanese shares fell. The Nikkei average dropped 167.54 points, or 0.57 percent, to 29,020.63, while the broader Topix index closed 0.39 percent lower at 1,914.98.

Australian markets ended on a flat note. The benchmark S&P/ASX 200 index finished marginally higher at 7,060.70 while the broader All Ordinaries index ended 0.12 percent higher at 7,320.70.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 17.49 points or 0.28 percent. The German DAX is losing 70.99 points or 0.47 percent, the U.K. FTSE 100 Index is down 37.91 points or 0.55 percent.

The Swiss Market Index is sliding 66.87 points or 0.60 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.41 percent.