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Wall Street On A Positive Bias


The focus on Friday is key economic data such as retail sales, import and export prices, industrial production and consumer sentiment. The impact of hurricane Florence is closely watched by the investors.

Asian shares finished higher, while European shares are trading higher.

The initial signs from the U.S. Futures suggest that Wall Street might open positive.

As of 7.45 am ET, the Dow futures were adding 47.00 points, the S&P 500 futures were up 5.00 points and the Nasdaq 100 futures are progressing 28.00 points.

U.S. stocks closed higher on Thursday. The Dow climbed 147.07 points or 0.6 percent to 26,145.99, the Nasdaq advanced 59.48 points or 0.8 percent to 8,013.71 and the S&P 500 rose 15.26 points or 0.5 percent to 2,904.18.

On the economic front, the Commerce Department's Retail Sales report for August will be published at 8.30 am ET. The consensus is for 0.4 percent, down from 0.5 percent last month.

The Labor Department's Import and Export Prices for August will be issued at 8.30 am ET.

Chicago Federal Reserve Bank President Charles Evans will speak about current economic conditions and monetary policy at the Northeast Indiana Regional Economic Forum in Fort Wayne, Indiana, with audience and media Q&A at 9.00 am ET.

The Commerce Department's Business Inventories report for July will be published at 10.00 am ET. The consensus is for increase of 0.5 percent versus 0.1 percent a month ago.

The Institute for Social Research of the University of Michigan's Consumer Sentiments report for September will be released at 10.00 am ET. The consensus is for 97.0, slightly up from 96.2 last month.

Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week the North American Rig Count was 1252, and U.S. Rig count was 1048.

Asian stocks ended broadly higher on Friday. Chinese stocks fluctuated before closing lower. The benchmark Shanghai Composite index dropped 4.94 points or 0.18 percent to 2,681.64 while Hong Kong's Hang Seng index ended up over 1 percent at 27,286.41.

Chinese industrial output and retail sales figures for August topped forecasts.

Japanese shares rallied to hit their highest level in more than seven months. The Nikkei average climbed 273.35 points or 1.20 percent to 23,094.67 while the broader Topix index closed 1.09 percent higher at 1,728.61.

Australian shares finished notably higher. The benchmark S&P/ASX 200 index climbed 36.60 points or 0.60 percent to 6,165.30 while the broader All Ordinaries index ended up 36.40 points or 0.58 percent at 6,276.30.

European shares are trading higher. Among the major indices, CAC 40 of France is climbing 13.25 points or 0.25 points. DAX of Germany is gaining 25.80 points or 0.23 percent. FTSE 100 of England is progressing 15.47 points or 0.21 percent. Swiss Market Index is gaining 1.47 points or 0.02 percent.

Euro Stoxx 50, Europe's leading Blue-chip index for the Eurozone, is currently up 0.17 percent.

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