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Wall Street Set To Start Lower

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Consumer Sentiment report for May and a slew of Fed talks are on focus on Friday.

Investors are closely following the trade tension between U.S. and China.

Asian shares finished mostly down, while European shares are trading in the red.

Early signs from the U.S. Futures suggest that Wall Street might open broadly lower.

As of 7.55 am ET, the Dow futures were losing 68.50 points, the S&P 500 futures were slipping 1.00 points and the Nasdaq 100 futures were down 20.25 points.

The U.S. major closed firmly positive on Thursday. The Dow climbed 214.66 points or 0.8 percent to 25,862.68, the Nasdaq jumped 75.90 points or 1 percent to 7,898.05 and the S&P 500 advanced 25.36 points or 0.9 percent to 2,876.32.

On the economic front, the University of Michigan's Consumer Sentiment report for May will be published at 10.00 am ET. The consensus is for 97.5, slightly up from 97.2 in the prior month.

Federal Reserve Board of Governors Vice Chairman Richard Clarida will speak on a tour of the LEAP Academy and a meeting with LEAP Academy students in Camden, New Jersey, as part of the Fed Listens: Education, Employment, and Monetary Policy in the Third District event at 10.00 am ET.

E-Commerce Retail Sales for the first quarter will be published at 10.00 am ET. In the prior month, E-Sales for the previous quarter was up 2.0 percent.

The Conference Board's Leading Indicators for April, a composite of 10 forward-looking components including building permits, new factory orders, and unemployment claims, will be issued at 10.00 am ET. The consensus is for an growth of 0.3 percent, while it grew 0.4 percent in February.

New York Federal Reserve Bank President John Williams will attend a meeting of the Community League of the Heights in New York at 11.15 am ET.

The Baker-Hughes Rig count for the week will be released at 1.00 pm ET. The North American Rig Count was 1051 and U.S. Rig count was 988.

Federal Reserve Board of Governors Vice Chairman Richard Clarida will give a speech on "The Federal Reserve's Review of Its Monetary Policy Strategy, Tools, and Communication Practices" at the Fed Listens: Education, Employment, and Monetary Policy in the Third District event in Philadelphia, Pennsylvania at 1.40 pm ET.

New York Federal Reserve Bank President John Williams will speak at the "Equitable Growth Meeting in Chinatown" event, in New York at 2.00 pm ET.

In the corporate sector, Nvida reported a lower earnings for the first quarter but adjusted profit beat analysts report. The company's profit totaled $394 million, or $0.64 per share, compared with $1244 million, or $1.98 per share, in last year. Excluding items, NVIDIA Corporation reported adjusted earnings of $543 million or $0.88 per share for the period. The company's revenue for the quarter fell 30.8 percent to $2.22 billion from $3.21 billion last year.

Asian stock markets closed mostly lower on Friday.

China's Shanghai Composite Index was down 73.41 points or 2.48 percent at 2,882.30. Hong Kong's Hang Seng Index declined 313.35 points or 1.11 percent to close at 27,961.72.

The Japanese market closed higher. The benchmark Nikkei 225 Index added 187.11 points or 0.89 percent to settle at 21,250.09, after touching a high of 21,398.85 earlier.

The Australian market closed higher. The benchmark S&P/ASX 200 Index added 37.50 points or 0.59 percent to close at 6,365.30. The broader All Ordinaries Index rose 42.70 points or 0.67 percent to settle at 6,460.20.

European shares are trading down. France's CAC 40 is declining 39.52 points or 0.73 percent. Germany's DAX is declining 140.80 points or 1.14 percent. FTSE 100 of U.K. is falling 39.24 points or 0.53 percent. Swiss Market Index is declining 49.70 points or 0.52 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is falling 0.92 percent.

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