Wall Street Might Open Modestly Up

(RTTNews) – U.S. import and export prices, Consumer Sentiment reports, and Inflation expectations are the major economic announcements on the day.

The CDC has withdrawn the quarantines and social distancing related on COVID-19 in the U.S. Meanwhile, after an increase in the number of patients, China is adding fresh restrictions and lockdowns.

Early cues from the U.S. Futures Index suggest that Wall Street might open slightly up.

Asian shares finished broadly higher when European shares are mostly up.

As of 7.40 am ET, the Dow futures were up 107.00 points, the S&P 500 futures were adding 15.00 points and the Nasdaq 100 futures were progressing 52.50 points.

The U.S. major averages closed mixed on Thursday. Nasdaq gained as much as 1.3 percent but ended the day down 74.89 points or 0.6 percent to 12,779.92. The S&P 500 also climbed 2.97 points or 0.1 percent to 4,207.27, while Dow inched up 27.16 points or 0.1 percent to 33,336.67.

On the economic front, the Import and Export Prices for July will be issued at 7.30 am ET. The consensus for Import Prices is a decline of 0.9 percent, while it was up 0.2 percent in the prior month. Export prices are expected to increase 9.4 percent, while it was up 0.7 percent in the prior month.

The Consumer Sentiment for August will be published at 9.00 am ET. The consensus is for 52.2, while it was up 51.5 in the prior month.

The Baker Hughes North American rig count that tracks weekly changes is scheduled at 12.00 pm ET. In the prior week, the North American Rig Count was 967 and the U.S. Rig Count was 764.

Asian stocks ended mixed on Friday. Chinese stocks fell on the day. The benchmark Shanghai Composite index slid 0.15 percent to 3,276.89 while Hong Kong’s Hang Seng index closed 0.46 percent higher at 20,175.62.

Japanese shares ended at a seven-month high. The Nikkei average jumped 2.62 percent to 28,546.98. The broader Topix index closed 2.04 percent higher at 1,973.18.

Australian markets declined. The benchmark S&P ASX 200 dropped 0.54 percent to 7,032.50. The broader All Ordinaries index ended half a percent lower at 7,288.80.

European shares are trading higher. CAC 40 of France is gaining 6.00 points or 0.09 percent. DAX of Germany is progressing 52.73 points or 0.39 percent. FTSE 100 of England is adding 15.16 points or 0.21 percent. Swiss Market Index is declining 11.11 points or 0.10 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.21 percent.

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