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Wall Street To Open Positive

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Employment Situation Report, Wholesale Trade report and a slew of Fed interactions are important on Friday. North Korean leader Kim Jong Un's offer to halt nuclear and missile test has added momentum to the investors. This might help to reduce geopolitical tensions in the region.

U.S. Futures Index trends in the pre-market hours are pointing that Wall Street might open higher. Asian shares finished mostly in the positive territory, while European shares are trading higher.

As of 6:15 am ET, the Dow futures are climbing 22 points, the S&P 500 futures up 0.75 points and the Nasdaq 100 futures are gaining 3.75 points.

U.S. stocks closed higher on Thursday. The tech-heavy Nasdaq closed up for the fifth consecutive session, climbing 31.30 points or 0.4 percent to 7,427.95. The Dow also rose 93.85 points or 0.4 percent to 24,895.21, and the S&P 500 advanced 12.17 points or 0.5 percent to 2,738.97.

On the economic front, the Labor Department's Employment Situation Report for February will be published at 8.30 am ET. The economic analysts are looking for Non-farm payrolls consensus of 205,000, compared to 200,000 in January. Unemployment rate is expected at 4.0 percent, down from 4.1 percent a month ago.

The Commerce Department's Wholesale Trade report for January is scheduled at 10.00 am ET. The inventories growth consensus is 0.7 percent, up from 0.4 percent a month ago.

Chicago Federal Reserve Bank President Charles Evans will speak about current economic conditions and/or monetary policy in a live interview with CNBC's Steve Liesman during "Squawk Box" at 8.40 am. He will appear in a live interview with Kathleen Hays for Bloomberg Markets at 10.45 am. Evans will also speak about current economic conditions and monetary policy at the Manhattan Institute Shadow Open Market Committee event in New York, with audience Q&A at 12.45 pm.

Baker-Hughes Rig Count for the week is expected at 1.00 pm ET. The North American Rig Count in the prior week was 1283, and U.S. rig count was 1283.

In the corporate sector, French Geoscience company CGG reported that its fourth-quarter shareholder's net loss was $76.9 million, narrower than last year's loss of $279.1 million.

General Motors Co. reportedly faces the prospect of a potential $1 billion stock payout to address claims stemming from its ignition-switch crisis.

Asian stocks closed mostly higher on Friday. China's Shanghai Composite index rose 18.76 points or 0.57 percent to 3,307.17. Hong Kong's Hang Seng index closed at 30,996, higher by 341.69 points or 1.11 percent.

Japanese shares closed higher. The Nikkei average ended 101.13 points or 0.47 percent higher at 21,469.20 after climbing as much as 2.4 percent earlier in the day. The broader Topix index closed 0.32 percent higher at 1,715.48.
Australian shares ended a range-bound session slightly higher as financials gained ground, offsetting losses in the material and energy sectors. The benchmark S&P/ASX 200 index rose 20.30 points or 0.34 percent to 5,963.20 while the All Ordinaries index ended up 22.50 points or 0.37 percent at 6,069.10.

European shares are trading broadly up. Among the major indexes in the region, the CAC 40 Index of France is up 6.37 points or 0.12 percent, the German DAX is climbing 34.50 points or 0.28 percent, the U.K. FTSE 100 Index is advancing 65.07 points or 0.98 percent and the Swiss Market Index is climbing 51.59 points or 0.66 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.02 percent.

by RTTNews Staff Writer

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