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Wall Street All Set To Bounce Back


The U.S. Futures suggest that Wall Street is all set to bounce back after several days of negative sentiments. Asian shares showed rebound and finished positive, while European shares are all trading in green territory.

The 15 percent increase in Chinese exports in September, surpassing analysts expectations was a cheering for investors in this region.

Imports and Export Prices for September and a slew of Fed speeches are the major focus on economic segment. Major Banks such as JPMorgan Chase, Wells Fargo are reporting on Friday and the Citigroup reported increase in profit, while revenue declined by 0.2 percent.

As of 7.55 am ET, the Dow futures were gaining 223.00 points, the S&P 500 futures were adding 26.00 points and the Nasdaq 100 futures were up 101.75 points.

U.S. stocks closed in negative territory. The Dow plunged 545.91 points or 2.1 percent to 25,052.83, the Nasdaq slumped 92.99 points or 1.3 percent to 7,329.06 and the S&P 500 plummeted 57.31 points or 2.1 percent to 2,728.37.
On the economic front, Import and Export Prices for September will be published at 8.30 am ET. The consensus is for increase of 0.2 percent, while it declined 0.6 percent last month.

Chicago Federal Reserve Bank President Charles Evans will participate in a moderated discussion at the ENGAGE Undergraduate Investment Conference at the University of Michigan in Ann Arbor, MI, with audience Q&A at 9.30 am ET.

The University of Michigan's Consumer Sentiment report for October will be released at 10.00 am ET. The market analysts are looking for consensus of 99.5, down from 100.1 in September.

Atlanta Federal Reserve Bank President Raphael Bostic will participate in armchair chat on recruitment, economics, and the public policy profession at the Network of Schools of Public Policy, Affairs and Administration Conference in Atlanta, Georgia, followed by audience Q&A at 12.30 am ET.

Federal Reserve Vice Chairman for Supervision Randal Quarles will participate in discussion with Tim Adams, President and CEO of the International Institute of Finance, at the 2018 IIF Annual Membership Meeting in Bali, Indonesia, followed by audience Q&A at 10.30 pm ET.

Baker-Hughes Rig Count for the week will be revealed at 1.00 pm ET. In the prior week, the North American Rig Count were 1234, and U.S. Rig Count were 1052.

In the corporate sector, Citigroup reported third quarter net income of $4.6 billion or $1.73 per share, compared to $4.133 billion last year. Revenues were $18.4 billion, unchanged from the prior year.

Asian stocks bounced back to finish higher on Friday. China's Shanghai Composite index rose 0.91 percent to 2,606.91 while Hong Kong's Hang Seng index ended up by 2.12 percent at 25,801.49.

Japanese shares finished modestly higher. The Nikkei average fell over 1 percent earlier in the day before reversing direction to end the session up 103.80 points or 0.46 percent at 22,694.66.

Australian markets recovered to finish modestly higher. The benchmark S&P/ASX 200 inched up 11.90 points or 0.20 percent to 5,895.70 while the broader All Ordinaries index ended up 13.10 points or 0.22 percent at 6,006.60.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 38.03 points or 0.74 percent. The German DAX is adding 78.81 points or 0.69 percent, the U.K. FTSE 100 Index is progressing 52.77 points or 0.75 percent. The Swiss Market Index is up 84.78 points or 0.98 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is improving by 0.49 percent.

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