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Wall Street Poised To Open Broadly Higher

wallstreet sept18 lt

The economic calendar is weak and Michigan's Consumer Sentiment for September, the Conference Board's Leading Indicators for August as well as a couple of Fed speeches might get attention on Friday.

Asian shares finished mixed, while European shares are trading broadly lower.
Initial signs from the U.S. Futures Index suggest that Wall Street might open broadly higher.

As of 8.05 am ET, the Dow futures were down 49.00 points, the S&P 500 futures were progressing 0.75 points and the Nasdaq 100 futures were gaining 42.75 points.

The major averages ended Thursday's session in the red. The Dow fell 130.40 points or 0.5 percent to 27,901.98, the Nasdaq tumbled 140.19 points or 1.3 percent to 10,910.28 and the S&P 500 slumped 28.48 points or 0.8 percent to 3,357.01.

On the economic front, the Commerce Department's Current Account for the second quarter will be released at 8.30 am ET. The consensus is for a deficit of $159.0 billion, while the deficit was $104.2 billion in the prior quarter.

The University of Michigan's Consumer Sentiment for September will be issued at 10.00 am ET. The consensus is for 75.0, slightly up from 74.1 in the prior month.
The Conference Board's Leading Indicators for August will be revealed at 10.00 am ET. The consensus is for an increase of 1.3 percent, while it was up 1.4 percent in the previous month.

The Baker Hughes weekly North American rig count is scheduled at 1.00 pm ET. In the prior week, the North American Rig Count was 306 and the U.S. Rig Count was 254.

St. Louis Federal Reserve Bank President James Bullard will speak in a fireside chat at the Washington University in St. Louis and the Boeing Center Innovation Conference on "The Industrial Path to Economic Recovery from Covid-19" at 10.00 am ET.

Atlanta Federal Reserve Bank President Raphael Bostic will speak about racial injustice and finance at a conference held by the Princeton University's Bendheim Center for Finance at 12.00 pm ET.

Asian stocks ended on a mixed note Friday. China's Shanghai Composite index rallied 2.07 percent to 3,338.09. Hong Kong's Hang Seng index edged up 0.47 percent to 24,455.41.

Japan's Nikkei index edged up slightly. The Nikkei average rose 0.18 percent to finish at 23,360.30, while the broader Topix index closed 0.49 percent higher at 1,646.42.

The Bank of Japan signaled readiness to ramp up stimulus.

Australian markets ended lower. The benchmark S&P/ASX 200 dropped 0.32 percent to 5,864.50, while the broader All Ordinaries index ended down 0.19 percent at 6,057.60.
European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 15.98 points or 0.31 percent. The German DAX is gaining 30.70 points or 0.23 percent, the U.K. FTSE 100 Index is sliding 19.05 points or 0.31 percent.

The Swiss Market Index is adding 42.19 points or 0.40 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.27 percent.

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