Futures Suggests Wall Street To Open In Negative Territory

wallstreet july16 24mar23 lt

Durable Goods Orders in the month of February might be a major economic announcement on Friday.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

Investors keenly observe the geopolitical situations. Russia launched a series of armed assaults in Ukrainian cities last day. Ukrainian President Volodymyr Zenelnsky condemned Russia's attack on civilians.

Asian shares finished mostly down, while European shares are trading lower.

As of 7.15 am ET, the Dow futures were down 331.00 points, the S&P 500 futures were declining 33.75 points and the Nasdaq 100 futures were sliding 69.00 points.

The U.S. major averages all closed higher on Thursday. The Nasdaq jumped 117.44 points or 1.0 percent to 11,787.40, the S&P 500 rose 11.75 points or 0.3 percent to 3,948.72 and the Dow edged up 76.14 points or 0.2 percent to 32,105.25.

On the economic front, the Commerce Department's Durable Goods Orders for February will be issued at 8.30 am ET. The consensus is 1.5 percent, while it was down 4.5 percent in the prior month.

The flash Composite Purchasing Managers' Index or PMI for March will be released at 9.45 am ET. The consensus for the manufacturing Index is up 47.2 and the Services Index consensus is up 50.3.

The Baker Hughes Rig Count for the week will be published at 1.00 pm ET. In the prior week, North America was up 961, while the U.S. was up 754.

St. Louis Federal Reserve Bank President James Bullard will give a presentation at a fireside chat on the U.S. economy and monetary policy before Greater St. Louis Inc. at 9.30 am ET.

Asian stocks ended broadly lower on Friday. Chinese shares were notably lower at the close. The benchmark Shanghai Composite dropped 0.64 percent to 3,265.65 while Hong Kong's Hang Seng index settled 0.67 percent lower at 19,915.68.

Japanese shares ended slightly lower. The Nikkei average slid 0.13 percent to 27,385.25 while the broader Topix index closed 0.10 percent lower at 1,955.32.

Australian markets were lower today. The benchmark S&P/ASX 200 index slipped 0.19 percent to 6,955.20. The broader All Ordinaries index ended 0.15 percent lower at 7,137.60.

European shares are trading lower. CAC 40 of France is down 143.61 points or 2.01 percent. DAX of Germany is declining 331.48 points or 2.19 percent. FTSE 100 of England is sliding 141.29 points or 1.89 percent. The Swiss Market Index is falling 126.62 points or 1.19 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 2.24 percent.

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