Wall Street Targets To Open Modestly Positive

Durable Goods Orders, Personal Income and Outlays as well as New Home Sales might be the highlight on Friday.

Early signs from the U.S. Futures Index suggest that Wall Street might open positive.

Asian shares finished lower, while European shares are trading mostly higher.

As of 7.15 am ET, the Dow futures were up 83.00 points, the S&P 500 futures were adding 8.25 points and the Nasdaq 100 futures were progressing 31.00 points.

U.S. major average were lower at the close on Thursday. The Dow is down 721.56 points or 2.2 percent at 32,654.92, the Nasdaq is down 376.02 points or 3.5 percent at 10,333.35 and the S&P 500 is down 105.09 points or 2.7 percent at 3,773.35.

On the economic front, Durable Goods Orders for November will be published at 8.30 am ET. The consensus is for a decline of 0.8 percent, while it was up 1.0 percent in the prior month.

Personal Income and Outlays for November will be released at 8.30 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.7 percent in the previous month.

The Commerce and Housing and Urban Development department’s New Home Sales for November will be released at 10.00 am ET. The consensus is 600K, while it was up 632K in the previous month.

The University of Michigan’s Consumer Sentiment for December will be released at 10.00 am ET. The consensus is 59.1, while it was up 59.1 in the previous month.

The Baker Hughes Rig Count for the week will be published at 1.00 pm ET. The North America rig count was 875, while the U.S. rig count was 779.

Asian stocks fell on Friday. China’s Shanghai Composite index slipped 0.28 percent to 3,045.87. Hong Kong’s Hang Seng index dropped 0.44 percent to 19,593.06.

Japanese shares fell sharply as data showed core consumer inflation in the country hit a fresh 40-year high in November. The Nikkei average fell 1.03 percent to 26,235.25, taking its weekly decline to 4.69 percent. The broader Topix index closed 0.54 percent lower at 1,897.94, with chip-related stocks and shippers pacing the declines.

Australian markets ended notably lower, dragged down by banks, miners and energy stocks. The benchmark S&P/ASX 200 index slid 0.63 percent to 7,107.70 while the broader All Ordinaries index closed 0.65 percent lower at 7,287.80.

European shares are trading mostly higher. CAC 40 of France is down 13.19 points or 0.20 percent. DAX of Germany is adding 32.35 points or 0.23 percent. FTSE 100 of England is progressing 6.04 points or 0.08 percent. The Swiss Market Index is up 20.99 points or 0.19 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.11 percent.

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