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Initial Cues Suggest Lower Open For Wall Street

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Investors are keenly observing the situation after President Trump said there were no plans to meet Chinese President Xi Jinping prior to the start of the trade deal starts next month.

Initial cues from the U.S. Futures Index suggest that Wall Street might open lower on Friday.

There are not much economic announcements on the day to trigger the sentiments. Expedia (EXPE), Mattel (MAT), News Corp. (NWSA), and Western Union (WU) will be reporting their earnings today.

Asian shares closed down, while European shares are losing.

As of 8.00 am ET, the Dow futures were down 135.00 points, the S&P 500 futures were losing 16.50 points and the Nasdaq 100 futures were declining 60.25 points.

The U.S. major averages closed firmly negative on Thursday. The Dow slumped 220.77 points or 0.9 percent to 25,169.53, the Nasdaq plunged 86.93 points or 1.2 percent to 7,288.35 and the S&P 500 tumbled 25.56 points or 0.9 percent to 2,706.05.

On the economic front, Baker Hughe's Rig Count is expected at 1.00 pm ET. In the prior week, the North American Rig Count was 1288 and U.S. rig count was 1045.

San Francisco Federal Reserve Bank President Mary Daly will participate in a moderated Q&A at the Bay Area Council Economic Institute's 12th Annual Economic Forecast Conference in San Francisco, CA at 1.15 pm ET.

Asian stocks fell on Friday. Chinese Shanghai Composite Index remains closed for the New Year holidays.

Japanese shares hit a one-month low. The Nikkei 225 Index plunged 418.11 points or 2 percent to 20,333.17, marking its biggest single-day percentage loss since early January and the lowest closing level since January 10th. The broader Topix closed 1.9 percent lower at 1,539.40.

Japan's trade balance in December showed a surplus of 216.2 billion yen, exceeding forecasts for 132.4 billion yen following the 559.1 billion yen deficit in the previous month.

Australian markets ended in the red. The benchmark S&P/ASX 200 Index dropped 21 points or 0.3 percent to 6,071.50, while the broader All Ordinaries Index ended down 22.90 points or 0.4 percent at 6,136.20.

European shares are losing. France's CAC 40 is down 9.62 points or 0.19 percent. Germany's DAX is falling 58.44 points or 0.53 percent. FTSE 100 of U.K. is slipping 17.61 points or 0.25 percent. Swiss Market Index is declining 22.24 points or 0.25 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is losing 0.27 percent.

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