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Future Market Suggest That Street Aims Higher


On a very light day of economic activities, a few Fed speeches are on focus. The reversing trend to greener pastures is adding enthusiasm to traders and the initial trading on U.S. Future index suggest that Wall Street will open in the green. Asian shares closed broadly higher on Friday, while European shares are climbing higher.

As of 7 am ET, the Dow futures were climbing 27 points, the S&P 500 futures were increasing 5.50 points and the Nasdaq 100 futures were progressing 13.75 points.

U.S. Stocks closed mostly higher on Thursday. The Dow rose 56.09 points or 0.3 percent to 20,663.02, the Nasdaq advanced 43.89 points or 0.7 percent to 6,055.13 and the S&P 500 climbed 8.69 points or 0.4 percent to 2,365.72.

On the economic front, the Baker Hughes North American rig count that tracks weekly changes in the number of active operating oil & gas rigs will be published at 1.00 pm ET. The North American Rig Count was 965, while U.S. rigs were 885.

St. Louis Federal Reserve Bank President James Bullard will present on "U.S. Economy and Monetary Policy" at the Association for Corporate Growth St. Louis Chapter Washington University in St. Louis, held in St. Louis, with audience and media Q&A at 9.15 am ET.

San Francisco Federal Reserve Bank President John Williams will speak about the view from a policy maker at El Camino High School in San Francisco, with audience Q&A at 1.40 pm ET.

In the corporate segment, Deere & Co. (DE) said that it expects net sales and revenues to increase about 9 percent for fiscal 2017 with net income attributable to Deere & Company of about $2.0 billion.

Company equipment sales are projected to increase about 9 percent for fiscal 2017 and to rise about 18 percent for the third quarter compared with the same periods of 2016. Deere's worldwide sales of agriculture and turf equipment are forecast to increase by about 8 percent for fiscal-year 2017.

Asian stocks reversed early losses to end mixed on Friday. China's Shanghai Composite index ended 0.49 points or 0.02 percent higher at 3,090.63. However, the benchmark index rose 0.2 percent for the week to snap a five-week losing streak. Hong Kong's Hang Seng index closed up 38.35 points or 0.15 percent at 25,174.87.

Japanese shares closed higher even as the dollar edged lower after a modest recovery overnight. The Nikkei average closed up 36.90 points or 0.19 percent at 19,590.76, but ended the week down about 1.5 percent. The broader Topix index closed 0.30 percent higher at 1,559.73.

Australian shares extended losses from the previous session. The benchmark S&P/ASX 200 dropped 10.90 points or 0.19 percent to 5,727.40, taking the weekly loss to 1.9 percent. The broader All Ordinaries index slipped 6.60 points or 0.11 percent to finish at 5,768.90.

Europeans shares are trading higher. CAC 40 of France is climbing 27.25 points or 0.52 percent. DAX of Germany is up 20.45 points or 0.16 percent. FTSE 100 of England is adding 31.41 points or 0.40 percent. Swiss market Index is surging 66.43 points or 0.71 percent.

Euro Stoxx 50, Europe's leading Blue-chip index for the Eurozone, is climbing 0.27 percent.

by RTTNews Staff Writer

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