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Wall Street Aims To Open In Negative Territory


Trading on Friday might be impacted by economic announcements such as Retail Sales for May, Fed's Industrial Production report as well as Business Inventories for April.

Investors are closely monitoring U.S.-China trade situation and increasing tensions in Gulf of Iran.

The early trading on U.S. Futures Index suggest that Wall Street might open lower.

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

As of 7.40 am ET, the Dow futures were down 37.00 points, the S&P 500 futures were declining 4.00 points and the Nasdaq 100 futures were losing 13.50 points.

U.S. stocks closed higher on Thursday. The Dow rose 101.94 points or 0.4 percent to 26,106.77, the Nasdaq advanced 44.41 points or 0.6 percent to 7,837.13 and the S&P 500 climbed 11.80 points or 0.4 percent to 2,891.64.

On the economic front, Retail Sales for May will be published at 8.30 am ET. The consensus is for an increase of 0.7 percent, while it declined 0.2 percent in the prior month.

Fed's Industrial Production report for May will be issued at 9.15 am ET. The consensus is for an increase of 0.2 percent, while it slipped 0.5 percent in April.

The Commerce Department's Business Inventories for April will be released at 10.00 am ET. The consensus is for an increase of 0.5 percent.

The Institute for Social Research of the University of Michigan's Consumer Sentiment for June will be revealed at 10.00 am ET. The consensus is for 98.4, slightly down from 100 in the prior 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 were 1078 and U.S. Rig Count were 975.

Asian stocks ended Friday's session on a broadly lower note.

China's Shanghai Composite index gave up early gains to end the session down 28.77 points or 0.99 percent at 2,881.97 while Hong Kong's Hang Seng index dropped 0.65 percent to 27,118.35.

Government data showed that China's industrial output grew at a slower pace, while growth in retail sales improved more-than-expected in May.

Japanese markets rose.The Nikkei average rose 84.89 points or 0.40 percent to 21,116.89, taking the weekly gain to 1.1 percent. The broader Topix index closed 0.34 percent higher at 1,546.71.

Australian markets fluctuated before ending modestly higher. The benchmark S&P/ASX 200 inched up 11.60 points or 0.18 percent to 6,554 while the broader All Ordinaries index ended up 14.50 points or 0.22 percent at 6,633.60.

European shares are trading in the red. France's CAC 40 is declining 29.70 points or 0.55 percent. Germany's DAX is down 110.38 points or 0.91 percent. FTSE 100 of U.K. is lowering by 44.84 points or 0.61 percent. Swiss Market Index down37.67 points or 0.38 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is declining 0.71 percent.

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