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Wall Street Might Open In Negative Territory

Investors are likely to keep an eye on Fed Chair Jerome Powell's opening remarks at a Fed Listens event on Friday.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished lower, while European shares are down.

As of 7.35 am ET, the Dow futures were down 367.00 points, the S&P 500 futures were declining 50.00 points and the Nasdaq 100 futures were sliding 166.00 points.

The U.S. major averages all closed in negative territory on Thursday. The Dow dipped 107.10 points or 0.4 percent to 30,076.68, the S&P 500 shed 31.94 points or 0.8 percent to 3,757.99 and the Nasdaq tumbled 153.39 points or 1.4 percent to 11,066.81.

On the economic front, the flash Composite Purchasing Managers' Index or PMI for September will be released at 9.45 am ET. The consensus for Composite Index is 47.0, while it was up 44.6 in the previous month. The consensus for Manufacturing Index was 51.3, while it was at 51.5 in the previous month.

The Baker Hughes Rig Count for the week will be released at 1.00 pm ET. In the prior week, the North America rig count was 974 and the U.S. Rig Count was 763.

Federal Reserve Chairman Jerome Powell will give opening remarks before the Fed Listens: Transitioning to the Post-pandemic Economy event at 2.00 pm ET.

Federal Reserve Vice Chair Lael Brainard and Federal Reserve Board Governor Michelle Bowman will each moderate conversations with at Fed Listens at 2.05 pm ET.

Asian stocks extended losses. Japanese markets were closed for Autumnal Equinox holiday.

Chinese shares fell notably. The benchmark Shanghai Composite index dropped 20.54 points, or 0.66 percent, to 3,088.37 while Hong Kong's Hang Seng index dropped 1.18 percent to 17,933.27.

Australian markets fell sharply. The benchmark S&P ASX 200 lost 1.87 percent to settle at 6,574.70, marking its lowest level since July 1. The broader All Ordinaries index ended 1.92 percent lower at 6,788.70.

European shares are trading lower. CAC 40 of France is down 124.09 points or 2.10 percent. DAX of Germany is declining 304.76 points or 2.43 percent. FTSE 100 of England is sliding 153.06 points or 2.12 percent. Swiss Market Index is losing 164.99 points or 1.58 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 2.33 percent.

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