Futures Index Suggests Wall Street To Open Lower
As part of the $1.9 trillion relief package, Americans could expect a stimulus payment of $1,400 by this weekend.
The pre-opening trend on U.S. Futures Index suggests that Wall Street might open considerably lower on Friday.
Asian shares finished mostly higher, while European shares are trading down.
Trading on Friday may be impacted by reaction to the latest U.S. economic data, including reports on producer price inflation and consumer sentiment.
As of 7.35 am ET, the Dow futures were adding 11.00 points, the S&P 500 futures were down 16.80 points and the Nasdaq 100 futures were sliding 197.25 points.
The U.S. major indices gained on Thursday. The Nasdaq soared 329.84 points or 2.5 percent to 13,398.67 and the S&P 500 jumped 40.53 points 1 percent to 3,939.34. The Dow closed up 188.57 points or 0.6 percent to 32,485.59.
On the economic front, the Producer Price Index or PPI – Final Demand for February will be issued at 8.30 am ET. The consensus is for an increase of 0.4 percent, while it was up 1.3 percent in the prior month.
The Consumer Sentiment for March will be released at 10.00 am ET. The consensus is for 78.5, while it was up 76.8 in the previous month.
Quarterly Services Survey for the fourth quarter will be released at 10.00 am ET. In the prior quarter the Selected Services Revenue was up 4.3 percent.
Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America Rig Count was 544 and the U.S. Rig Count was 403.
Asian stocks ended mostly higher on Friday. Chinese shares ended a choppy session higher. The benchmark Shanghai Composite index rose 16.25 points, or 0.47 percent, to 3,453.08 while Hong Kong’s Hang Seng index ended down as much as 645.89 points, or 2.20 percent, at 28,739.72.
Japanese shares gained on the day. The Nikkei average gained 506.19 points, or 1.73 percent, to 29.717.83 while the broader Topix index closed 1.36 percent higher at 1,951.06.
Australian markets posted solid gains at the end of the week. The benchmark S&P/ASX 200 rose 52.90 points, or 0.79 percent, to 6,766.80 while the broader All Ordinaries index ended up 61.70 points, or 0.89 percent, at 7,014.60.
European shares are trading mostly lower. Among the major indexes in the region, the German DAX is losing 94.81 points or 0.65 percent, the U.K. FTSE 100 Index is down 7.27 points or 0.11 percent.
The Swiss Market Index is declining 34.02 points or 0.31 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.59 percent.
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