Wall Street Poised To Open In Negative Territory

wallstreet oct21 lt

Friday is rather quiet, as far as economic announcements are concerned. Earnings might get special attention on the day.

Snap Inc., Whirlpool, and CSX Corp. have scheduled their quarterly earnings today, after the close of the bell.

The U.S. economy has been giving warnings about a probable recession. The Fed's drastic interest rate hikes are to resist probable inflation. Investors are looking ahead to Federal Reserve's next meeting in November.

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

As of 7.35 am ET, the Dow futures were down 118.00 points, the S&P 500 futures were adding 16.50 points and the Nasdaq 100 futures were sliding 71.75 points.

The U.S. major averages all closed in the red on Thursday. The Nasdaq fell 65.66 points or 0.6 percent to 10,614.84 and the S&P 500 slid 29.38 points or 0.8 percent to 3,665.78, the narrower Dow dipped 90.22 points or 0.3 percent to 30,333.59.

On the economic front, FOMC member Williams will speak at a public function at 6.40 am ET.

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 985 and the U.S. Rig Count was 769.

Asian stocks ended broadly lower on Friday. China's Shanghai Composite index edged up 0.13 percent to 3,038.93.
Hong Kong's Hang Seng index slipped 0.42 percent to 16,211.12.

Japanese shares closed lower. The Nikkei average dropped 0.43 percent to 26,890.58 while the broader Topix index ended 0.71 percent lower at 1,881.98.

Australian markets closed lower. The benchmark S&P/ASX 200 index fell 0.80 percent to 6,676.80, marking its second weekly loss. The broader All Ordinaries index ended 0.71 percent lower at 6,869.90.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 104.73 points or 1.72 percent, the German DAX is losing 199.46 points or 1.55 percent, the U.K. FTSE 100 Index is down 58.84 points or 0.84 percent. The Swiss Market Index is sliding 123.65 points or 1.17 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.65 percent.

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