Wall Street Targets To Open Lower

Initial signs from the U.S. Futures Index suggest that Wall Street might open moderately negative. Asian shares finished mixed, while European shares are trading mostly higher.

Coronavirus pandemic continues to be a real concern for the investors.

JOLTS report Business Inventories report for March, Industrial Production report as well as Consumer Sentiment report for May will get the attention of the investors.

As of 8.15 am ET, the Dow futures were losing 177.00 points, the S&P 500 futures were down 22.25 points and the Nasdaq 100 futures were sliding 103.25 points.

The U.S. major ended the Thursday session at their best levels of the day. The Dow surged up 377.37 points or 1.6 percent to 23,625.34, the Nasdaq advanced 80.55 points or 0.9 percent to 8,943.72 and the S&P 500 jumped 32.50 points or 1.2 percent to 2,852.50.

On the economic front, the Commerce Department’s Retail Sales report for April will be issued at 8.30 am ET. The consensus is for a decline of 11.2 percent, while it was down 8.7 percent in the prior month.

The Empire State Manufacturing Survey report for May will be released at 8.30 am ET. The consensus is for a decline of 65.0, narrower than 78.2 in the prior month.
Industrial Production report for April will be revealed at 9.15 am ET. The consensus is for a decline of 11.5 percent, while it was down 5.4 percent in April.

The Commerce Department’s Business Inventories for March will be issued at 10.00 am. The consensus is for a decline of 0.5 percent, compared to 0.4 percent in February.
The Consumer Sentiment for May will be published at 10.00 am ET. The consensus is for 66.0, down from 71.8 in the prior month.

The Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey or JOLTS report for March will be released at 10.00 am ET.

The Baker-Hughes Rig Count for the week will be published at 1.00 pm ET. In the prior week, the North American Rig Count was 400, while U.S. Rig Count was 374.

Treasury International Capital report for March is scheduled at 4.00 pm ET. In the previous month, the Foreign Demand for Long-Term U.S. Securities was $49.4 billion.

Asian stocks turned in a mixed performance on Friday. Chinese shares ended little changed with a negative bias. The benchmark Shanghai Composite index edged down marginally to 2,868.46, while Hong Kong’s Hang Seng index slid 0.14 percent to 23,797.47.

Japanese shares ended notably higher. The Nikkei average gained 122.69 points, or 0.62 percent, to close at 20,037.47, while the broader Topix index closed half a percent higher at 1,453.77.

Australian markets rallied. The benchmark S&P/ASX 200 index climbed 76.10 points, or 1.43 percent, to 5,404.80, while the broader All Ordinaries index ended up 74.80 points, or 1.38 percent, at 5,492.80.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is gaining 0.13 points or 0.00 percent. The German DAX is up 89.08 points or 0.87 percent, the U.K. FTSE 100 Index is progressing 58.79 points or 0.62 percent.

The Swiss Market Index is progressing 57.76 points or 0.61 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.24 percent.

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