Plus   Neg

Wall Street Poised To Open In The Red


Consumer Price Index will be the main focus on Friday.

Initial signs from the U.S. Futures Index suggest that Wall Street might open in the negative territory.

Asian shares closed down, while European shares are trading lower.

As of 6.50 am ET, the Dow futures were declining 101.00 points, the S&P 500 futures were down 12.25 points and the Nasdaq 100 futures were losing 40.25 points.

The U.S. stocks closed mixed. The Nasdaq inched up 3.46 points or less than a tenth of a percent to 7,891.78, the Dow fell 74.52 points or 0.3 percent to 25,509.23 and the S&P 500 edged down 4.12 points or 0.1 percent to 2,853.58.

On the economic front, Consumer Price Index for CPI for July will be issued at 8.30 am ET. The consensus is for increase of 0.2 percent, up from 0.1 percent.

Baker-Hughes Rig Count for the week will be published at 1.00 pm ET. In the prior week, North American Rig Count was 1267 and U.S. rig count was 1044.

Treasury Budget for July will be released at 2.00 pm ET. The consensus is for a deficit of $73.5 billion, compared to a deficit $74.9 billion last month.
In the corporate sector, Astellas Pharma Inc. acquired Quethera, a gene therapy company headquartered in the United Kingdom.

Asian stock markets finished mostly lower on Friday. Chinese shares posted their best weekly gains in a month. The benchmark Shanghai Composite index ended flat at 2,795.31, but ended the week up by 2 percent. Hong Kong's Hang Seng index, however, dropped 251.76 points or 0.88 percent to 28,355.54.

Japanese shares fell sharply to hit one-month low. The Nikkei average fell by 300.31 points or 1.33 percent to 22,298.08, the lowest closing level since July 12. The broader Topix index closed 1.15 percent lower at 1,720.16.

Australian shares fell modestly. The benchmark S&P/ASX 200 index dropped 19.30 points or 0.31 percent to 6,278.40 while the broader All Ordinaries index ended down 16.80 points or 0.26 percent at 6,366.80.

European shares are trading lower. Among the major indices, CAC 40 of France is declining 59.85 points or 1.09 points. DAX of Germany is losing 193.75 points or 1.10 percent. FTSE 100 of England is declining 52.98 points or 0.69 percent. Swiss Market Index is gaining 32.04 points or 0.36 percent.

Euro Stoxx 50, Europe's leading Blue-chip index for the Eurozone, is currently down 1.15 percent.

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