Wall Street Targets To Open Significantly Up, Focus On Monthly Jobs Report

Earnings and the Monthly Jobs Report might be the focus on Friday.

Investors might react to the latest earnings news. Tech major Apple has scheduled its quarterly results after the bell today.

Early trends on the U.S. Futures Index suggest that Wall Street might open higher.
Asian shares finished mostly up, while European shares are trading positive.

As of 7.25 am ET, the Dow futures were up 178.00 points, the S&P 500 futures were adding 29.50 points and the Nasdaq 100 futures were progressing 94.00 points.

The U.S. major averages all finished Friday in the negative zone. The Dow slumped 286.50 points or 0.9 percent to 33,127.74, the Nasdaq fell 58.93 points or 0.5 percent to 11,966.40 and the S&P 500 slid 29.53 points or 0.7 percent to 4,061.22.

On the economic front, the Employment Situation for April will be revealed at 8.30 am ET. The consensus is for 178,000, while it was up 236,000 in the prior month. The unemployment rate is expected to be 3.6 percent, while it was up 3.5 percent in March. Private Payrolls are expected to be 153,000, while it was up 189,000 in the previous month. Average month-over-month hourly earnings are projected to be 0.3 percent, while it was up 0.3 percent in March.

The Baker Hughes Rig Count for the week will be announced at 1.00 pm ET. In the prior week, the North America Rig Count was 848 and the U.S. Rig Count was 755.

The Fed Consumer Credit for March will be issued at 3.00 pm ET. The consensus is $17 billion, while in February it was up $15.3 billion.

St. Louis Federal Reserve Bank President James Bullard will participate in a fireside chat on the U.S. economy and monetary policy before an Economic Club of Minnesota luncheon at 1.00 pm ET.

Federal Reserve Board Governor Lisa Cook will give a commencement address before the 2023 Spring Convocation of Michigan State University at 1.00 pm ET.

Asian stocks ended Friday’s session on a mixed note. Chinese shares ended lower. The benchmark Shanghai Composite index dropped 0.48 percent to 3,334.50 while Hong Kong’s Hang Seng index settled half a percent higher at 20,049.31.

Australian markets gained up. The benchmark S&P/ASX 200 rose 0.37 percent to 7,220, while the broader All Ordinaries index ended 0.34 percent higher at 7,413.10.

European shares are trading higher. CAC 40 of France is gaining 40.99 points or 0.56 percent. DAX of Germany is adding 130.23 points or 0.83 percent. FTSE 100 of England is progressing 37.13 points or 0.48 percent. The Swiss Market Index is up 38.98 points or 0.34 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.48 percent.

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