Wall Street Aims To Open Mostly Lower

News on the coronavirus front may attract attention on Friday, overshadowing reports on Personal Income and Spending and Consumer Sentiment are the major economic announcement on Friday.

The spiking of Coronavirus infections might continue to influence consumer sentiments.

Asian shares finished mostly higher, while European shares are trading higher.

As of 8.10 am ET, the Dow futures were declining 105.00 points, the S&P 500 futures were down 3.25 points and the Nasdaq 100 futures were adding 2.00 points.

The U.S. major averages finished modestly higher on Thursday. The Dow shot up 299.66 points or 1.2 percent to 25,745.60, the Nasdaq jumped 107.84 points or 1.1 percent to 10,017.00 and the S&P 500 surged up 33.43 points or 1.1 percent to 3,083.76.

On the economic front, the Commerce Department’s Personal Income and Outlays for May will be issued at 8.30 am ET. The consensus is for a decline of 6.4 percent, while it was up 10.5 percent in the prior month. Consumer spending is expected to rise 8.6 percent, while it was down 13.6 percent in April.

Consumer Sentiment for June will be released at 10.00 am ET. The consensus is for 78.9.
The Baker Hughes North American rig count for the week will be published at 1.00 pm. In the prior week, the North American Rig Count was 283, while U.S. Rig Count was 266.

Asian stocks rose on Friday. Markets in Taiwan and China were closed for the Dragon Boat Festival. Hong Kong’s Hang Seng index dropped 0.93 percent to 24,549.99.

Japanese shares rose sharply. The Nikkei average rose 252.29 points, or 1.13 percent to 22,512.08, rebounding from a 1-1/2-week closing low hit in the previous session. The broader Topix index closed 0.99 percent higher at 1,577.37.

Australian markets rebounded. The benchmark S&P/ASX 200 index climbed 86.40 points, or 1.49 percent, to 5,904.10.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 72.61 points or 1.48 percent. The German DAX is adding 100.88 points or 0.85 percent, the U.K. FTSE 100 Index is gaining 91.96 points or 1.48 percent.

The Swiss Market Index is adding 61.17 points or 0.61 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.23 percent.

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