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Wall Street Aims To Bounce Back

wallstreet sept30 lt

A slew of fed speeches and reports on personal income and spending might get special attention on Friday.

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

As of 7.40 am ET, the Dow futures were up 28.00 points, the S&P 500 futures were adding 8.00 points and the Nasdaq 100 futures were progressing 23.75 points.

The U.S. major averages closed with steep losses on Thursday. The Dow slumped 458.13 points or 1.5 percent to 29,225.61, the Nasdaq plunged 314.13 points or 2.8 percent to 10,737.51 and the S&P 500 tumbled 78.57 points or 2.1 percent to 3,640.47.

On the economic front, the Commerce Department's Personal Income and Outlays for August will be published at 8.30 am ET. The consensus is up 0.3 percent, while it was up 0.2 percent in the prior month.

Market News International's Chicago PMI for September will be revealed at 9.45 am ET. The consensus is 52.0, while it was up 52.2 in the prior month.

Baker Hughes Rig Count for the week is expected at 1.00 pm ET. In the prior week, the North America rig Count was 979 and the U.S. rig count was 764.

The Agriculture DepartmentFarm Prices for August will be released at 3.00 pm ET. In the prior month, the prices were down 0.1 percent.

Richmond Federal Reserve Bank President Thomas Barkin will speak before the Northern Virginia Hispanic Chamber of Commerce at 8.30 am ET. Thomas Barkin will speak on What's Driving Inflation? before the Prince William County Chamber of Commerce at 12.30 pm ET.

Federal Reserve Vice Chair Lael Brainard will give opening remarks before hybrid Financial Stability Considerations for Monetary Policy Conference at 9.00 am ET.

Federal Reserve Board Governor Michelle Bowman will speak virtually on Principles for Large Bank Supervision before the Institute of International Finance event at 11.00 am ET.

New York Federal Reserve Bank President John Williams will give closing remarks before the hybrid Financial Stability Considerations for Monetary Policy Conference at 4.15 pm ET.

Asian stocks fell again on Friday. China's Shanghai Composite index dipped 0.55 percent to 3,024.39 while Hong Kong's Hang Seng index rose 0.33 percent to 17,222.83.

Japanese shares ended at a three-month low. The Nikkei average fell 1.83 percent to 25,937.21. The broader Topix index closed 1.76 percent lower at 1,835.94.

Australian markets fell sharply. The benchmark S&P/ASX 200 index slipped 1.23 percent to close at 6,474.20 while the broader All Ordinaries index fell 1.21 percent to 6,678.70.

European shares are trading higher. CAC 40 of France is gaining 36.52 points or 0.64 percent. DAX of Germany is adding 37.64 points or 0.32 percent. FTSE 100 of England is progressing 16.05 points or 0.23 percent. Swiss Market Index is up 66.21 points or 0.65 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.43 percent.

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