Wall Street Aims To Open Higher

Investors might react to Personal income and spending, consumer sentiment, and Chicago-area business activity on Friday.

The earnings results of Dell (DELL), Gap (GPS), and HP Inc. (HPQ) are expected after the bell.

Early information on U.S. Futures Index suggests that Wall Street might open higher.

As of 8.05 am ET, the Dow futures were adding 158.00 points, the S&P 500 futures were up 12.50 points and the Nasdaq 100 futures were gaining 13.00 points.

The U.S. major Indices finished higher on Thursday. Dow climbed 160.35 points or 0.6 percent to 28,492.27 and the S&P 500 rose 5.82 points or 0.2 percent to 3,484.55.
Meanwhile, the Nasdaq, which has recently outperformed its counterparts, fell 39.72 points or 0.3 percent to 11,625.34.

On the economic front Census Bureau’s Good Trade (Advance) report will be issued at 8.30 am ET. The consensus is for a decline of $73 billion, while it was down $70.6 billion.

Personal Income and Outlays for July will be released at 8.30 am ET. The consensus is for a decline of 0.2 percent, while it was down 1.1 percent in the prior month.

Retail Inventories (Advance) for July will be published at 8.30 am ET. In the prior month, the inventories were down 2.6 percent.

Market News International’s Chicago PMI for August will be released at 9.45 am ET. The consensus is for 51.8, while it was 51.9 in the previous month.
The University of Michigan’s Consumer Sentiment for August will be published at 10.00 am ET. The consensus is for 72.8.

Baker Hughes Rig Count for the week will be revealed at 1.00 pm ET. In the prior week, the North American Rig Count was 310 and the U.S. Rig Count was 254.
The Agriculture Department’s Farm Prices for July will be released at 3.00 pm ET. In the prior month it was up 1 percent.

Asian stocks ended mostly higher on Friday. Chinese stocks rose sharply on hopes of economic recovery.

The benchmark Shanghai Composite index rallied 53.69 points, or 1.60 percent, to 3,403.81, while Hong Kong’s Hang Seng index gained 0.56 percent to end at 25,422.06.
Japanese shares tumbled after reports that Prime Minister Shizo Abe might resign due to health reasons. The Nikkei average fell 326.21 points, or 1.41 percent, to 22,882.65, while the broader Topix index closed 0.68 percent lower at 1,604.87.

Australian markets fell sharply. The benchmark S&P/ASX 200 index dropped 52.40 points, or 0.86 percent, to 6,073.80, while the broader All Ordinaries index ended down 49.80 points, or 0.79 percent, at 6,260.80.

European shares are trading mixed. Among the major indexes in the region, the CAC 40 Index of France is progressing 6.61 points or 0.13 percent. The German DAX is losing 8.34 points or 0.06 percent, the U.K. FTSE 100 Index is down 0.21 points or 0.00 percent.

The Swiss Market Index is declining 35.65 points or 0.35 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.0042 percent.

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