Wall Street Set To Open Lower

Early signs from the U.S. Futures Index suggest that Wall Street might open lower. Asian shares finished mostly higher, while European shares are trading down.

On a lean day of economic announcements, the market is focusing on the roll-out plan of COVID-19 vaccines and the developments in Washington.

As of 7.45 am ET, the Dow futures were declining 189.00 points, the S&P 500 futures were down 27.25 points and the Nasdaq 100 futures were sliding 92.50 points.

The U.S. major averages finished broadly lower on Thursday. The Nasdaq climbed 66.85 points or 0.5 percent to 12,405.81, the Dow dipped 69.55 points or 0.2 percent to 29,999.26 and the S&P 500 edged down 4.72 points or 0.1 percent to 3,668.10.

On the economic front, the Labor Department’s Producer Price Index or PPI for November will be issued at 8.30 am ET. The consensus is for growth of 0.1 percent, while it was up 0.3 percent in the previous month.

The University of Michigan’s Consumer Survey Center’s Consumer Sentiment report for December will be revealed at 10.00 am ET. The consensus is for 76.0, slightly down from 76.9 in the previous month.

The Baker Hughes Rig Count for the week will be published at 1.00 pm ET. In the prior week, the North America Rig Count was 425 and the U.S. Rig Count was 323.

Asian stocks ended mixed on Friday. Chinese shares ended notably lower. The benchmark Shanghai Composite index shed 26.08 points, or 0.77 percent, to 3,347.19, while Hong Kong’s Hang Seng index edged up 95.28 points, or 0.36 percent, to 26,505.87.

Japanese shares ended a tad lower. The Nikkei average dropped 103.72 points, or 0.39 percent, to 26,652.52 and posted its first weekly loss in six. The broader Topix index closed 0.33 percent higher at 1.782.01.

Australian markets fell on Friday. The benchmark S&P/ASX 200 index dropped 40.50 points, or 0.61 percent, to 6,642.60. The broader All Ordinaries index ended down 30.70 points, or 0.44 percent, at 6,886.40.

European shares are trading lower. Among the major indexes in the region, the German DAX is losing 220.90 points or 1.66 percent, the U.K. FTSE 100 Index is down 57.97 points or 0.88 percent.

The Swiss Market Index is sliding 34.76 points or 0.33 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.25 percent.

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