Wall Street Set To Open Red

wallstreet jan28 lt

Quarterly results might be the highlights on Friday. Tech giant Apple has scheduled their reports after the close of today's trading.

The economic calendar is comparatively quiet. Asian shares finished mostly lower, while European shares are trading on a negative trend.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
As of 7.15 am ET, the Dow futures were down 185.00 points, the S&P 500 futures were declining 20.00 points and the Nasdaq 100 futures were sliding 14.00 points.

The U.S. major averages closed mostly lower on Thursday. The tech-heavy Nasdaq ended the day down 189.34 points or 1.4 percent at 13,352.78. The S&P 500 also slid 23.42 points or 0.5 percent to a nearly four-month closing low of 4,326.51 after surging as much as 1.8 percent.

The narrower Dow edged down 7.31 points or less than a tenth of a percent to 34,160.78.

On the economic front, the Commerce Department's Personal Income and Outlays for December will be issued at 8.30 am ET. The consensus is for an increase of 0.5 percent, while it was up 0.4 percent in the prior month.

The employment Cost Index for the fourth quarter will be published at 8.30 am ET. The consensus is for an increase of 1.2 percent, while it was up 1.3 percent in the previous quarter.

The University of Michigan's Consumer Survey report for January will be released at 10.00 am ET. The consensus is for an increase of 68.6, while it was up 68.8 in the prior month.

The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America Rig Count was 816 and the U.S. Rig Count was 604.

Asian stocks ended broadly higher on Friday. Chinese shares fell on the day. The Shanghai Composite index dropped 32.81 points, or 0.97 percent, to 3,361.44.

Japanese shares recovered from a 14-week low. The Nikkei average rallied 547.04 points, or 2.09 percent, to 26,717.34 while the broader Topix index closed 1.87 percent higher at 1,876.89.

Australian markets posted robust gains. The benchmark S&P/ASX200 index closed up 149.80 points, or 2.19 percent, at 6,988.10 while the broader All Ordinaries index jumped 151.80 points, or 2.13 percent, to settle at 7,266.30.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is sliding 133.98 points or 1.91 percent. The German DAX is losing 305.57 points or 1.97 percent, the U.K. FTSE 100 Index is falling 92.21 points or 1.22 percent.

The Swiss Market Index is declining by 157.14 points or 1.29 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 2.01 percent.

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