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Futures Suggest Positive Bias For Wall Street At Open

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The Labor Department's monthly Job reports might influence investors' sentiments on Friday. U.S. employment is expected to increase by 190,000 jobs in July, while the unemployment rate is expected to edge down to 3.9 percent.

International Trade report and PMI Services Index are the other major economic announcements today.

Asian shares finished mixed, while European shares are all positive.

U.S. Futures Index suggest that Wall Street might open significantly higher.

As of 7.45 am ET, the Dow futures were up 66.00 points, the S&P 500 futures were adding 6.25 points and the Nasdaq 100 futures were progressing 25.50 points.

U.S. stocks ended mixed on Thursday. The Dow edged down 7.66 points or less than a tenth of a percent to 25,326.16, the Nasdaq jumped 95.40 points or 1.2 percent to 7,802.69 and the S&P 500 climbed 13.86 points or 0.5 percent to 2,827.22.

On the economic front, the Labor Department's Employment Situation repot for July will be published at 8.30 am ET. The consensus is for 190,000, down from 213,000 a month ago. Consensus for unemployment rate is 3.9 percent, compared to 4.0 percent in June.

The Commerce Department's International Trade for June will be issued at 8.30 am ET. The consensus is for a deficit of $45.6 billion versus deficit of $43.1 billion in the previous month.

The Markit Economics PMI Services Index for July will be published at 9.45 am ET. The consensus is for 56.3, slightly down from 56.5 in the prior month.

Institute for Supply Management's Non-Manufacturing Index for July will be released a 10.00 am ET. The consensus is for 58.8, down from 59.1 in June.

Baker-Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, the North American Rig Count were 1271, while U.S. rig count were 1048.

In the corporate sector, DISH Network Corp. reported second-quarter earnings per share of $0.83, compared to $0.09, prior year. For the second-quarter, net income attributable to DISH Network totaled $439 million, compared to $40 million, a year ago. DISH noted that its net income for the second quarter of 2017 was negatively impacted by litigation expenses, net of related taxes, of $280 million. In addition, DISH's net income for the second quarter of 2018 was positively impacted by non-cash adjustments related to the adoption of the new ASC 606 revenue recognition standard, net of related taxes, of $33 million.

Second-quarter revenue was $3.46 billion compared to $3.64 billion, previous year. Analysts expected revenue of $3.44 billion for the quarter. Subscriber-related revenue for the quarter totaled $3.42 billion, compared to $3.61 billion for the year-ago period.

Asian stocks ended mixed on Friday. China's Shanghai Composite index dropped 27.58 points or 1 percent to 2,740.44.

Survey from Caixin showed that China's services sector continued to expand in July, albeit at a slower pace. The PMI stood at 52.8, down from 53.9 in the previous month.

Hong Kong's Hang Seng index eased 38.24 points or 0.14 percent to close at 27,676.32.

Japanese shares closed on a flat note. The Nikkei average finished marginally higher at 22,525.18 while the broader Topix index closed 0.54 percent lower at 1,742.58, dragged down by banks.

The Japanese services sector continued to expand in July, but at a slower pace. The Nikkei showed with a PMI score of 51.3, down from 51.4 in the previous month.

Australian shares fluctuated before closing marginally lower on trade war concerns.

European shares are progressing. France's CAC 40 is climbing 29.18 points or 0.53 percent. Germany's DAX is up 86.47 points or 0.69 percent. FTSE 100 of U.K. is advancing 70.88 points or 0.93 percent. Swiss Market Index is up 4.25 points or 0.05 percent.

Eurozone's leading Blue Chip index,Euro Stoxx 50, is progressing 0.60 percent.

by RTTNews Staff Writer

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