Wall Street Might Open Broadly Lower

Early cues from the U.S. Futures Index suggest that Wall Street might open broadly lower on Friday. Earnings news might get attention today.

Asian shares finished in negative, while European shares are trading down.

The import and export prices in September and a preliminary reading on consumer sentiment in October are the major economic announcements today.

In view of the war between Israel and Hamas, as well as the ongoing attacks in Russian-Ukraine regions, the oil prices are trending up.

As of 7.55 am ET, the Dow futures were up 36.00 points, the S&P 500 futures were declining 2.50 points and the Nasdaq 100 futures were sliding 46.25 points.

The U.S. major averages closed firmly negative on Thursday. The Dow fell 173.73 points or 0.5 percent to 33,631.14, the Nasdaq slid 85.46 points or 0.6 percent to 13,574.22 and the S&P 500 declined 27.34 points or 0.6 percent to 4,349.61.

On the economic front, the Import and Export Prices for September will be published at 8.30 am ET. The consensus is up 0.5 percent, while it was up 0.5 percent in August.

The Consumer Sentiment for October will be released at 10.00 am ET. The consensus is for 67.5, while it was up 68.1 in the prior 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 799 and the U.S. rig count was 619.

Philadelphia Federal Reserve Bank President Patrick Harker will speak virtually on the economic outlook before the Delaware State Chamber of Commerce 2023 Economic Outlook event at 9.00 am ET.

Asian stocks declined on Friday. Chinese markets ended notably lower.

The benchmark Shanghai Composite index fell 0.64 percent to 3,088.10 while Hong Kong’s Hang Seng index slumped 2.33 percent to 17,813.45.

Japanese shares closed lower. The Nikkei average dropped 0.55 percent to 32,315.99. The broader Topix index settled 1.44 percent lower at 2,308.75.

Australian markets snapped a six-day winning streak. The benchmark S&P ASX 200 slipped 0.56 percent to 7,051 while the broader All Ordinaries index closed 0.60 percent lower at 7,243.50.

European shares are trading lower. CAC 40 of France is down 54.99 points or 0.77 percent. DAX of Germany is declining 125.17 points or 0.81 percent. FTSE 100 of England is sliding 27.07 points or 0.35 percent. The Swiss Market Index is falling 66.31 points or 0.60 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.83 percent.

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