Plus   Neg

Wall Street Poised To Open Positive


Initial trends on U.S. Futures Index suggest that Wall Street might open positive on Friday.

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

The investors are keenly waiting for the Industrial Production report and Import and Export prices for January.

On the earnings front, Applies Materials , CBS Corp. and Nvidia are among the companies releasing their quarterly results after the close of today's trading.

As of 7.40 am ET, the Dow futures were gaining 72.00 points, the S&P 500 futures were adding 7.00 points and the Nasdaq 100 futures were up 20.00 points.

U.S. stocks finished broadly lower on Thursday. The tech-heavy Nasdaq ended the day up 6.58 points or 0.1 percent to 7,426.95, while the Dow dropped 103.88 points 0.4 percent to 25,439.39 and the S&P 500 fell 7.30 points or 0.3 percent to 2,745.73.

On the economic front, Fed's Empire State Manufacturing Survey for February will be issued at 8.30 am ET. The consensus is for 7.6, versus 3.9 in the prior month.

The Labor Department's Import and Export Prices for January will be published at 8.30 am ET. The consensus is for 0.0 percent, while it recorded a decline of 1.0 percent in the prior month.

Industrial Production report for January will be revealed at 9.15 am ET. The consensus is for an increase of 0.1 percent, while it grew 0.3 percent in the prior month.

Atlanta Federal Reserve Bank President Raphael Bostic will deliver a speech to the Public Affairs Research Council of Alabama on "Workforce Development" in Birmingham, Alabama, followed by audience Q&A at 9.55 am ET.

Consumer Sentiment for February will be issued at 10.00 am ET. The consensus is for 93.00, up from 91.2 in January.

Baker-Hughes Rig Count for the week will be released at 1.00 pm ET. North American Rig Count was 1289 and U.S. Rig Count was 1049.

In the corporate sector, PepsiCo, Inc. reported fourth-quarter core earnings per share of $1.49 compared to $1.31, prior year. Excluding the impact of foreign exchange translation, core constant currency EPS increased 17 percent year-over-year.

Fourth-quarter income before income taxes were $1.94 billion, down 17% from previous year. Net income to PepsiCo was $6.85 billion compared to a loss of $710 million, last year. Reported EPS was $4.83, an increase from the $0.50 loss per share in the fourth quarter of 2017.

For the fourth-quarter, reported net revenue was even with the prior year at $19.52 billion. Organic revenue grew 4.6 percent, for the quarter. Analysts expected revenue of $19.53 billion for the quarter.

Asian stocks closed mostly lower. China's Shanghai Composite Index tumbled 37.31 points or 1.4 percent to 2,682.38. Hong Kong's Hang Seng Index plunged 531.21 points or 1.9 percent to 27,900.84.

Japanese shares fell sharply. The benchmark Nikkei 225 Index slumped 239.08 points or 1.1 percent to 20,900.63, and the broader Topix closed 0.8 percent lower at 1,577.29.

Australian markets edged up slightly. The benchmark S&P/ASX 200 Index inched up 6.70 points or 0.1 percent to 6,066.10, while the broader All Ordinaries Index rose 9.00 points or 0.2 percent at 6,148.60.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 61.26 points or 1.21 percent, the German DAX is gaining 103.04 points or 0.95 percent, the U.K. FTSE 100 Index is progressing 25.87 points or 0.36 percent. The Swiss Market Index is adding 56.34 points or 0.62 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.94 percent.

For comments and feedback contact: editorial@rttnews.com

Follow RTT