Wall Street Aims To Open Moderately Up

The Personal Income and Spending for June and earnings reports might be of interest to investors on Friday.

Intel (INTC) and Ford (F) are also among the companies releasing their quarterly results after the close of today’s trading.

Early signs from the U.S. Futures Index suggest that Wall Street might open higher. Asian shares finished mostly down, while European shares are trading mixed.

As of 7.35 am ET, the Dow futures were up 89.00 points, the S&P 500 futures were adding 21.50 points and the Nasdaq 100 futures were progressing 136.50 points.

Major U.S. averages, on Thursday, finished lower. The tech-heavy Nasdaq fell 77.17 points or 0.6 percent to 14,050.11. The S&P 500 slid 29.34 points or 0.6 percent to 4,537.41, while the Dow slumped 237.40 points or 0.7 percent to 35,282.72.

On the economic front, the Personal Income and Outlays for June will be released at 8.30 am ET. The consensus is 0.4 percent, while it was up 0.4 percent in the prior month.

The Employment Cost Index for the second quarter will be issued at 8.30 am ET. The consensus is growth of 1.1 percent, while it was up 1.2 percent in the prior quarter.

The Consumer Sentiment for July will be published at 10.00 am ET. The consensus is 72.6, while it was up 72.6 in the previous month.

The Baker Hughes Rig Count for the week will be announced at 1.00 pm ET. In the prior week, the North America rig count was 856, while the U.S. rig count was up 669.

The Agriculture Department’s Farm Prices for June will be issued at 3.00 pm ET. In the prior month, the Farm Prices were down 2.8 percent.

Asian stocks ended mixed on Friday. Chinese shares logged strong gains. The benchmark Shanghai Composite index rallied 1.84 percent to 3,275.93 while Hong Kong’s Hang Seng index jumped 1.41 percent to 19,916.56.

Gold edged up slightly on risk aversion while oil prices fluctuated in Asian trade after settling sharply higher on Thursday.

Japanese shares ended lower. The Nikkei average dropped 0.40 percent to 32,759.23 while the broader Topix index slipped 0.20 percent to 2,290.61.

Japan’s benchmark bond yield soared to a nine-year high and the yen rallied.

Australian markets fell notably. The benchmark S&P ASX 200 slipped 0.70 percent to 7,403.60. The broader All Ordinaries index ended down 0.74 percent at 7,616.10.

European shares are trading mostly lower. CAC 40 of France is down 12.15 points or 0.17 percent. DAX of Germany is gaining 12.87 points or 0.07 percent. FTSE 100 of England is progressing 6.68 points or 0.09 percent. The Swiss Market Index is down 30.19 points or 0.27 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.065 percent.

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