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Futures Suggest Wall Street To Open Firmly In Negative

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Earnings season is tapering and the department store operator J.C. Penney will be releasing its third quarter results today.

Speaking at the Asia-Pacific Economic Co-operation summit in Vietnam, during the five-nation Asia tour, President Trump said "U.S. will no longer tolerate chronic trade abuses."

The signs from the U.S. Future Index show that there are nothing much to excite the investors and hence Wall Street might be opening negative. Asian shares closed broadly lower, while European shares are in the red.
As of 6.00 am ET, the Dow futures were slipping 46 points, the S&P 500 futures were shedding 8.75 points and the Nasdaq 100 futures were slipping 23.25 points.

U.S. stocks closed firmly negative on Thursday. The Dow fell 101.42 points or 0.4 percent to 23,461.94, the Nasdaq slid 39.07 points or 0.6 percent to 6,750.05 and the S&P 500 dropped 9.76 points or 0.4 percent to 2,584.62.

On the U.S. economic front, Consumer Sentiment for November will be published at 10.00 am ET. The economist are looking for consensus of 100.00, slightly down from 100.7 in the previous period.

Baker-Hughes rig count for the week will be released by 1.00 pm ET. The North American Rig Count in the prior week was 1090, while U.S. rig count was 898.

In the corporate sector, Integrated steel and mining company ArcelorMittal (MT) reported that its third-quarter net income attributable to equity holders of the parent climbed to $1.21 billion from last year's $680 million. Earnings per share were $1.18, higher than $0.67 last year. Operating income of $1.2 billion increased 2.5% from last year. EBITDA of $1.9 billion grew 1.5 percent. Sales for the quarter were $17.64 billion, higher than $14.52 billion a year earlier.

Digital Health provider Physitrack, one of Apple's first Mobility Partners, announced that it will seek to publicly list the company on Nasdaq First North in 2018.

Asian stocks finished broadly lower on Friday. China's Shanghai Composite index inched up 4.88 points or 0.14 percent to 3,432.67 after reports that China is considering expanding corporate tax cuts for high-tech service companies. Hong Kong's Hang Seng index finished 15.65 points or 0.05 percent lower at 29,120.92.
Japanese shares led regional decliners. The Nikkei average fell 187.29 points or 0.82 percent to 22,681.42 while the broader Topix index closed 0.70 percent lower at 1,800.44.

Australian shares retreated from near 10-year highs hit in the previous session as weak commodity prices pulled down mining and energy stocks.
The benchmark S&P/ASX 200 dropped 20 points or 0.33 percent to finish at 6,029.40, snapping a three-day winning streak. The broader All Ordinaries index ended down 18.10 points or 0.30 percent at 6,104.30.

European shares are trading lower. The CAC 40 of France is down 21.98 points or 0.41percent. DAX of Germany is declining 28.59 points or 0.21 percent. FTSE 100 of England is down 21.74 points or 0.29 percent. Swiss Market Index is slipping 38.81 points or 0.42 percent.

Euro Stoxx 50, that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.25 percent.

by RTT Staff Writer

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