Markets

Wall Street Aims To Open Higher

(RTTNews) - Investors are keenly observing the earnings reports as well as developments in the U.S. election process. The fear of COVID-19 pandemic continues to grow.

Asian shares finished mixed, while European shares are trading broadly higher. Initial cues from the U.S. Futures Index suggest that Wall Street might open positive.

Intel (INTC), Capital One (COF), Mattel (MAT) and Seagate Technology (STX) companies are expected to release their quarterly reports today.

As of 8.10 am ET, the Dow futures were adding 93.00 points, the S&P 500 futures were gaining 10.50 points and the Nasdaq 100 futures were adding 25.75 points.

The U.S. major averages all closed higher on Thursday. The Dow climbed 152.84 points or 0.5 percent to 28,363.66 and the S&P 500 rose 17.93 points or 0.5 percent to 3,453.49.

On the economic front, IHS Markit's PMI Composite Flash report for October will be revealed at 9.45 am ET. The consensus is for 54.2, while it was 54.4 in the prior month.

Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, the North American Rig Count was 362 and the U.S. Rig Count was 282.

Asian stocks turned in a mixed performance on Friday. Chinese shares tumbled. The benchmark Shanghai Composite index fell 34.50 points, or 1.04 percent, to 3,278, while Hong Kong's Hang Seng index ended up 132.65 points, or 0.54 percent, at 24,918.78.

Japanese shares closed higher. The Nikkei average inched up 42.32 points, or 0.18 percent, to 23,516.59 ahead of a string of earnings reports due week. The broader Topix index closed 0.34 percent higher at 1,625.32.

Australian stocks ended on a flat note. The benchmark S&P/ASX 200 edged down 6.80 points, or 0.11 percent, to 6,167, while the broader All Ordinaries index ended down 10 points, or 0.16 percent, at 6,373.70.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is declining 2.57 points or 0.05 percent. The German DAX is adding 141.35 points or 1.13 percent, the U.K. FTSE 100 Index is gaining 88.57 points or 1.53 percent.

The Swiss Market Index is adding 39.22 points or 0.39 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is progressing 40.40 points or 0.41 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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