Futures Point To Lower Open For Wall Street
Earnings reports might be the major focus on Friday. Personal Income and Spending, as well as Consumer Sentiment, are important for investors today.
Chevron (CVX), Exxon Mobil (XOM) and Honeywell (HON) are due to report their quarterly results before the start of trading. Amazon (AMZN), Apple (AAPL) and Intel (INTC) will report their quarterly results after the close of the day.
As of 7.46 am ET, the Dow futures were losing 154.00 points, the S&P 500 futures were losing 43.00 points and the Nasdaq 100 futures were slightly up 185.75 points.
The U.S. major averages on Thursday closed higher. The Dow were up 614.46 points or 1.9 percent to 33,916.39, the Nasdaq spiked 382.59 points or 3.1 percent to 12,871.53 and the S&P 500 surged 103.54 points or 2.5 percent to 4,287.50.
On the economic front, the Commerce Department’s Personal Income and Outlays for March will be released at 8.30 am ET. The personal income consensus is for an increase of 0.4 percent, while it was up 0.5 percent in the prior month.
The Labor Department’s Employment Cost Index for the first quarter will be issued at 8.30 am ET. The consensus is for an increase of 1.1 percent, while it was up 1.0 percent in the prior quarter.
Market News International’s Chicago PMI for April will be published at 9.45 am ET. The consensus is for 61.3, while it was up 62.9 in the previous month.
The University of Michigan’s Consumer Sentiment report is scheduled at 10.00 am ET. The consensus is for 65.6, while it was up 65.7 in February.
The Baker Hughes North American rig count for the week will be released at 1.00 pm ET. In the prior week, the North America Rig Count was 796 and the U.S. Rig Count was 695.
Asian stocks extended gains on Friday. Japanese markets are closed for a holiday.
China’s Shanghai Composite Index recovered 71 points or 2.41 percent to finish at 3,047.06.
The Hang Seng Index of the Hong Kong Stock Exchange gained 834 points or 4.11 percent at 21,110.00.
Australia’s S&P/ASX200 closed trading at 7,435.00 after gaining 78 points or 1.06 percent.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is gaining 28.34 points or 0.44 percent. The German DAX is adding 99.20 points or 0.71 percent, the U.K. FTSE 100 Index is progressing 14.97 points or 0.19 percent.
The Swiss Market Index is gaining 95.67 points or 0.79 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.57 percent.
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