Wall Street Aims To Open Positive
(RTTNews) - U.S. Senators have sanctioned significant support of $40 billion to Ukraine. Commenting on the destruction, Ukrainian President Volodymyr Zelensky said Russia has "completely destroyed" the eastern region.
U.S. President Biden offered full support to Sweden and Finland, who are seeking the support of at least 30 countries to apply for NATO membership.
China slashed its interest rates on Friday to lift the market.
Asian shares finished higher, while European shares are trading up.
As of 7.45 am ET, the Dow futures were gaining 263.00 points, the S&P 500 futures were adding 42.25 points and the Nasdaq 100 futures were up 178.00 points.
After wild swings on Wednesday, U.S. major index finished lower. The Nasdaq dipped 29.66 points or 0.3 percent to 11,388.50, and the Dow and the S&P 500 once again ended the session at their lowest closing levels in over a year. The Dow slid 236.94 points or 0.8 percent to 31,253.13 and the S&P 500 fell 22.89 points or 0.6 percent to 3,900.79.
On the economic front, the Census Bureau's quarterly services survey report for the first quarter is expected at 10.00 am ET. In the prior quarter, the Selected Services Revenues were up 2.8 percent and the Information Revenue for the quarter grew 8.5 percent.
The Baker Hughes Rig Count for the week will be released at 1.00 pm ET. In the prior week, the North America Rig count was 802, while European shares are at 714.
In the corporate sector, Deere & Company (DE) reported a surge in second-quarter net profit to $2.098 billion from $1.79 billion a year ago. On a per-share basis, earnings were $6.81, up from $5.68 last year. Applied Materials Inc. reported an increase in profit for the second quarter. On a per-share basis, earnings missed estimates.
Asian stocks gained on Friday. China's Shanghai Composite index rallied 1.60 percent to 3,146.57.
Hong Kong's Hang Seng index jumped as much as 2.96 percent to 20,717.24.
Japan's Nikkei index rose 1.27 percent to 26,739.03. The broader Topix index finished 0.93 percent higher at 1,877.37.
Australian markets advanced on Thursday. The benchmark S&P/ASX 200 index rose 1.15 percent to 7,145.60 and gained 1 percent for the week. The broader All Ordinaries index climbed 1.20 percent to 7,391.
European shares are trading higher. The CAC 40 Index of France is adding 88.65 points or 1.41 percent. The German DAX is climbing 249.05 points or 1.80 percent, and the U.K. FTSE 100 Index is up 137.61 points or 1.88 percent. The Swiss Market Index is progressing 63.39 points or 0.56 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is increasing 1.65 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.