Wall Street Aims To Bounce Back

Business

Russia-Ukraine’s war-like situation might continue to be a concern for investors.
Early signs from the U.S. Futures Index suggest that Wall Street open higher on the day.

Asian shares finished mostly lower, European shares mostly higher.

As of 7.05 am ET, the Dow futures were up 121.00 points, the S&P 500 futures were adding 21.00 points and the Nasdaq 100 futures were progressing 93.50 points.

The U.S. major averages saw further downside going into the close on Thursday, ending the session near their worst levels of the day. The Dow tumbled 622.24 points or 1.8 percent to 34,312.03, the Nasdaq plunged 407.38 points or 2.9 percent to 13,716.72 and the S&P 500 dove 94.75 points or 2.1 percent to 4,380.26.

On the economic front, the National Association of Realtors’ Existing Home Sales for January will be published at 10.00 am ET. The consensus is 6.088 million, compared to 6.10 million in the prior month.

E-Commerce Retail Sales for the fourth quarter is scheduled at 10.00 am ET. In the prior quarter, retail sales were down 3.3 percent.

The Conference Board’s Leading Indicators for January will be issued at 10.00 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.8 percent in the previous month.

The Quarterly Service Survey for the fourth quarter will be revealed at 10.00 am ET. In the prior quarter, the selected service revenue was up 3.6 percent.

The Baker Hughes Rig Count for the week is expected at 1.00 pm ET. In the prior week, the North America Rig Count was 854 and the U.S. Rig Count was 635.

Chicago Federal Reserve Bank President Charles Evans will speak on current economic conditions and monetary policy at 10.15 am ET.

New York Federal Reserve Bank President John Williams to give a keynote before the virtual event on the economic outlook organized by the New Jersey City University, Guarini Institute for International Education and Economic Mobility at 11.00 am ET.
Federal Reserve Board Governor Lael Brainard to participate in Central Bank Digital Currencies panel at 1.30 pm ET.

Asian stocks ended mostly lower on Friday. China’s Shanghai Composite index rose 22.72 points, or 0.66 percent, to 3,490.76.

Hong Kong’s Hang Seng index fell 465.06 points, or 1.88 percent, to 24,327.71.
Japanese stocks ended modestly lower. The Nikkei average ended down 110.80 points, or 0.41 percent, at 27,122.07, while the broader Topix index closed 0.36 percent lower at 1,924.31.

Australian markets ended sharply lower. The benchmark S&P/ASX 200 fell 74.50 points, or 1.02 percent, to 7,221.70 while the broader All Ordinaries index ended down 72 points, or 0.95 percent, at 7,502.80.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 18.92 points or 0.27 percent. The German DAX is losing 32.42 points or 0.21 percent, the U.K. FTSE 100 Index is gaining 22.97 points or 0.31 percent.

The Swiss Market Index is adding 51.10 points or 0.42 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.013 percent.

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