logo
Share SHARE
FONT-SIZE Plus   Neg

Futures Suggest Wall Street Might Open On A Negative Note

walllstreet-071417-lt.jpg

The U.S. Futures Index suggest that Wall Street might open lower. The consumer prices and retails sales prices index are eagerly awaited by the market. Asian shares closed mixed, while European shares are trading mixed.

As of 6.30 am ET, the Dow futures were slipping 10 points, the S&P 500 futures were shedding 2.00 points and the Nasdaq 100 futures were slipping 1.50 points.

U.S. stocks closed modestly higher. The Dow crept up 20.95 points or 0.1 percent to 21,553.09, the Nasdaq rose 13.27 points or 0.2 percent to 6,274.44 and the S&P 500 edged up 4.58 points or 0.2 percent to 2,447.83.
On the economic front, The Labor Department's Consumer Price Index for June will be published at 8.30 am ET. The economists are looking for growth consensus of 0.1 percent, compared to a decline to 0.1 percent in the previous period.

The Commerce Departments, Retail Sales Index for June will be issued at 8.30 am ET. The consensus is for a growth of 0.1 percent, while it declined 0.3 percent in May.

Fed's Industrial Production data for June will be revealed at 9.15 am ET. The consensus is for a growth of 0.3 percent. Manufacturing data is expected to grow by 0.2 percent, compared to a decline of 0.4 percent in the previous month.

Dallas Federal Reserve Bank President Robert Kaplan will speak at a moderated Q&A session at the Conference on the Federal Reserve and monetary policy hosted by the Center for Economic Studies of the Private Sector in Mexico City, with audience and media Q&A at 9.30 am ET.

Department's of Commerce's Business Inventories Data for May will be released at 10.00 am ET. The consensus is for a growth of 0.3 percent, compared to a decline of 0.2 percent in April.

The Institute for Social Research of the University of Michigan's Consumer Sentiment Index for July is expected at 10.00 ET. The consensus is for 95.1 unchanged from last month.

In the corporate sector, Software exporter Infosys Technologies Ltd. reported that its profit attributable to owners of the company for the fist-quarter increased about 5.8 percent to $541 million from last year's $511 million. Earnings per equity share grew to $0.24 from $0.22 last year.

Revenues for the quarter rose 6.0 percent to $2.65 billion from $2.50 billion. Quarterly revenue was up 6.3 percent in constant currency term.

AT&T Inc. (T) is reportedly planning major organizational changes to follow the $85.4 billion acquisition of Time Warner Inc., including a redefined role for Chief Executive Officer Randall Stephenson, as the telecommunications giant morphs into a media company.

Asian stocks ended mixed on Friday. Chinese shares reversed early losses to end a tad higher as Fitch Ratings maintained the country's sovereign ratings at 'A+' with 'stable' outlook, but warned a further increase in economy's overall leverage and tighter monetary conditions will constrain growth prospects over the medium term.

The benchmark Shanghai Composite index rose 4.25 points or 0.13 percent to 3,222.42, while Hong Kong's Hang Seng index ended 43.06 points or 0.16 percent at 26,389.23.

Japanese shares closed marginally higher ahead of a three-day weekend. The Nikkei average closed 19.05 points or 0.09 percent higher at 20,118.86 while the broader Topix index rose 0.39 percent to 1,625.48.

Australian shares extended gains from the previous session. The benchmark S&P/ASX 200 index rose 28.30 points or 0.49 percent to 5,765.10 while the broader All Ordinaries index closed 29.60 points or 0.51 percent higher at 5,808.70.

European shares are trading mixed. CAC 40 of France is up 0.40 points or 0.01 percent. DAX of Germany is declining 3.05 points or 0.02 percent. FTSE 100 of England is down 17.88 points or 0.24 percent. Swiss Market Index is climbing 28.69 points or 0.32 percent.

Euro Stoxx 50, Europe's leading Blue-chip index for the Eurozone, is progressing by 0.06 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

comments powered by Disqus
Follow RTT