Wall Street Might Open Lower
U.S. economic data reports on Retail Sales, Industrial Production and Consumer Sentiment reports might get special attention on Friday.
The U.S.-China tensions are raising concern, at the same time investors are optimistic over U.S. President-elect Joe Biden’s $1.9 trillion stimulus package.
As of 7.35 am ET, the Dow futures were losing 124.00 points, the S&P 500 futures were down 11.00 points and the Nasdaq 100 futures were sliding 7.75 points.
Asian shares finished ended mixed, while European shares are trading mostly lower.
Initial signs from the U.S. Futures Index point to a lower open for Wall Street.
The U.S. major averages finished Thursday modestly below the unchanged line. The Dow slipped 68.95 points or 0.2 percent to 30,991.52, the Nasdaq edged down 16.31 points or 0.1 percent to 13,112.64 and the S&P 500 fell 14.30 points or 0.4 percent to 3,795.54.
On the economic front, the Labor Department’s Producer Price Index or PPI for December will be issued at 8.30 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.1 percent in the previous month.
The Commerce Department’s Retail Sales for December is scheduled at 8.30 am ET. The consensus is for a decline of 0.1 percent, compared to a decline of 1.1 percent in the previous month.
The New York Fed Empire State Manufacturing Index for January will be released at 8.30 am ET. The Index is expected to be up 6.0, while it was up 4.9 in December.
The Fed Reserve’s Industrial Production for December will be revealed at 9.15 am ET. The consensus is for an increase of 0.5 percent, slightly up from 0.4 percent last month.
The Business Inventories for November will be released at 10.00 am ET. The consensus is for growth of 0.4 percent, while it was up 0.7 percent in the prior month.
The University of Michigan’s Consumer Survey Center’s Consumer Sentiment for January will be published at 10.00 am ET. The consensus is for 80, while it was 80.7 in the previous month.
Minneapolis Federal Reserve Bank President Neel Kashkari will discuss the economy, unemployment, the current impact of COVID and federal stimulus funding in virtual Minnesota Hospital Association 2021 Winter Trustee Conference Town Hall on the Economy at 11.30 am ET.
Asian stocks ended mixed on Friday. Chinese shares ended a choppy session on a flat note.
Hong Kong stocks ended modestly higher. The Hang Seng index edged up 89.72 points, or 0.31 percent, to 28,586.58.
Japanese shares fell from a 30-year high. The Nikkei average ended down 179.08 points, or 0.62 percent, at 28,519.18, snapping a five-day winning streak. The broader Topix index closed 0.89 percent lower at 1,856.61.
Australian markets ended little changed with a positive bias.
European shares are trading mostly lower. Among the major indexes in the region, the German DAX is losing 141.71 points or 1.01 percent, the U.K. FTSE 100 Index is down 61.68 points or 0.92 percent.
The Swiss Market Index is adding 6.74 points or 0.06 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.85 percent.
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