Wall Street Set To Open Slightly Up

Business

The Personal Income and spending Outlays report is likely to be in focus on Friday. Political developments, especially the Russia-Ukraine situation might be closely watched by investors.

Early trends on the U.S. Futures Index suggest that Wall Street might open positive.

As of 7.40 am ET, the Dow futures were up 13.00 points, the S&P 500 futures were adding 8.25 points and the Nasdaq 100 futures were progressing 46.00 points.

On Thursday, the major U.S. averages finished higher. The Dow jumped 516.91 points or 1.6 percent to 32,637.19, the Nasdaq soared 305.91 points or 2.7 percent to 11,740.65 and the S&P 500 surged 79.11 points or 2 percent to 4,057.84.

On the economic front, the Personal Income and Outlays for April will be released at 8.30 am ET. The consensus is 0.6 percent, while it was up 0.5 percent in the prior month.

Retail Inventories for April is expected at 8.30 am ET. In the prior week, the Retail Inventories were up 2.0 percent. Wholesale Inventories for April is scheduled at 8.30 am ET. The consensus is 2.0 percent, while it was up 2.3 percent in the previous month.

The Baker Hughes Rig Count for the week will be published at 1.00 pm ET. In the prior week, the North America Rig Count was 816 and the U.S. Rig count was 728.

Asian stocks finished mostly down on Friday. China’s Shanghai Composite index edged up 0.23 percent to 3,130.24.

Hong Kong’s Hang Seng index gained 2.89 percent to 20,697.3.

Japanese shares rose notably. The Nikkei average gained 0.66 percent to close at 26,781.68.

Australian gained at the close on Friday. The benchmark S&P ASX 200 climbed 1.08 percent to 7,182.70 while the broader All Ordinaries index ended 1.01 percent higher at 7,413.10.

European shares are progressing. France’s CAC 40 is climbing 54.25 points or 0.85 percent. Germany’s DAX is up 112.27 points or 0.79 percent. FTSE 100 of U.K. is advancing 19.56 points or 0.26 percent. Swiss Market Index is up 94.18 points or 0.83 percent.

Eurozone’s leading Blue Chip index, Euro Stoxx 50, is progressing 0.88 percent.

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