Wall Street To Open On A Positive Note
The Employment Situation Report for October and International Trade Report are keenly awaited by the investors. Employment is expected to increase from the prior period.
Asian shares finished mostly higher, while European shares are trading all positive.
Initial trends from the U.S. Futures Index suggest that Wall Street might open higher.
As of 7.55 am ET, the Dow futures were gaining 335.00 points, the S&P 500 futures were adding 25.00 points and the Nasdaq 100 futures were progressing 19.25 points.
U.S. stocks closed higher on Thursday. The Dow surged 264.98 points or 1.1 percent to 25,380.74, the Nasdaq soared 128.16 points or 1.8 percent to 7,434.06 and the S&P 500 jumped 28.63 points or 1.1 percent to 2,740.37.
On the economic front, Employment Situation report for October will be issued at 8.30 am ET. The consensus is for 190,000, up from 134,000 in the prior month. Unemployment rate was unchanged at 3.7 percent.
International Trade report for September will be released at 8.30 am ET. The consensus is for a deficit of $53.5 billion, compared to $53.2 billion.
Factory Orders data for September will be revealed at 10.00 am ET. The consensus is for increase of 0.4 percent, while it grew 2.3 percent in the previous month.
Baker-Hughes Rig Count for the week is expected at 1.00 pm ET. The North American Rig Count were 1268 in the prior week, while U.S. Rig Count were 1068.
Exxon Mobil Corp. released earnings for its third quarter that increased from the same period last year. The company’s earnings came in at $6.24 million, or $1.46 per share. This compares with $3.97 million, or $0.93 per share, in last year’s third quarter. The company’s revenue for the quarter rose 25.4% to $76.61 billion from $61.10 billion last year.
Asian stocks finished mostly higher on Friday. China’s Shanghai Composite index ended up 2.7 percent at 2,676.48 and Hong Kong’s Hang Seng climbed as much as 4.2 percent to 26,486.35 on easing trade tensions.
Japanese shares logged their biggest single-day gain since March. The Nikkei average climbed 2.56 percent to 22,243.66. The broader Topix index closed 1.64 percent higher at 1,658.76.
Australian markets finished modestly higher. The benchmark S&P/ASX 200 index inched up 0.14 percent to 5,849.20 while the broader All Ordinaries index ended up 0.17 percent at 5,935.80.
European shares are trading positive. The CAC 40 Index of France is adding 76.03 points or 1.49 percent. The German DAX is progressing 197.69 points or 1.72 percent, the U.K. FTSE 100 Index is up 62.39 points or 0.88 percent. The Swiss Market Index is climbing 32.21 points or 0.36 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.40 percent.
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