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Futures Suggests Higher Open For Wall Street

wallstreet sept11 lt

Consumer Price Index might be the highlight on Friday. Investors are keenly following the developments in the COVID-19 infections and efforts to develop an effective vaccine.

Asian shares finished mostly higher, while European shares are trading lower.
Early signs from the U.S. Futures Index suggest that Wall Street might open significantly higher at the open.

As of 7.45 am ET, the Dow futures were gaining 131.00 points, the S&P 500 futures were progressing 21.25 points and the Nasdaq 100 futures were sliding up 106.50 points.

The U.S. major averages posted steep losses on Thursday. The Dow tumbled 405.89 points or 1.5 percent to 27,534.58, the Nasdaq plummeted 221.97 points or 2 percent to 10,919.59 and the S&P 500 plunged 59.77 points or 1.8 percent to 3,339.19.

On the economic front, the Labor Department's Consumer Price Index or CPI for August will be released at 8.30 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.6 percent in the prior month.

The Census Bureau's Quarterly services survey for the second quarter will be issued at 10.00 am ET. In the prior quarter, the selected services revenue was down to 7.3.
The Treasury Statement for August will be published at 2.00 pm ET. The consensus is for a deficit of $315 billion, compared to a deficit of $63 billion in the previous month.

Asian stocks ended mostly higher on Friday. The shares in China and Hong Kong rose.
China's Shanghai Composite Index added 25.52 points or 0.8 percent to close at 3,260.35, while Hong Kong's Hang Seng Index advanced 189.77 points or 0.8 percent to settle at 24,503.31.

Japanese shares recovered after a weak start to close higher for the second consecutive day. The benchmark Nikkei 225 Index advanced 171.02 points or 0.7 percent to close at 23,406.49, while the broader Topix rose 11.78 points, or 0.7 percent, to finish at 1,636.64.

The Australian market declined for the fourth straight week. The benchmark S&P/ASX 200 Index dropped 49.10 points, or 0.8 percent, to close at 5,859.40 and the broader All Ordinaries fell 51.10 points, or 0.8 percent, to settle at 6,038.90.

European shares are trading mixed. Among the major indexes in the region, the CAC 40 Index of France is down 0.87 points or 0.02 percent. The German DAX is losing 16.86 points or 0.13 percent, the U.K. FTSE 100 Index is gaining 9.18 points or 0.15 percent.

The Swiss Market Index is down 51.65 points or 0.50 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.49 percent.

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