Wall Street Might Continue In Negative Territory

(RTTNews) - Early signs from the U.S. Futures Index suggest that Wall Street might open lower. Markets might be reacting to the inflation data.

Asian shares finished mixed, while European shares are trading mostly up.

In the Asian share trading session, gold was little changed, while oil extended overnight losses ahead of an OPEC+ meeting to decide on supply cuts.

As of 7.50 am ET, the Dow futures were down 33.00 points, the S&P 500 futures were declining 8.50 points and the Nasdaq 100 futures were sliding 53.50 points.

The U.S. major averages finished lower on Thursday. The Dow slid 330.06 points or 0.9 percent to 38,11.48, the Nasdaq slumped 183.50 points or 1.1 percent to 16,737.08 and the S&P 500 fell 31.47 points or 0.6 percent to 5,235.48.

On the economic front, The Chicago PMI for May will be issued at 9.45 am ET. The consensus is 40.8. In the prior month, the Index was at 37.9.

The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America rig count was 720 and the U.S. rig count was 600.

The Farm Prices for April will be released at 3.00 pm ET. In March, the Farm prices were up 1.5 percent.

The Personal Income and Outlays for April will be published at 8.30 am ET. The consensus is for an increase of 0.3 percent, which was up 0.5 percent in the previous month.

Atlanta Fed President Raphael Bostic will give commencement speech at Augusta Technical College at 6.15 pm ET.

Asian stocks ended on a mixed note Friday. China's Shanghai Composite index slipped 0.16 percent to 3,086.81. Hong Kong's Hang Seng index dipped 0.83 percent to 18,079.61.

Japanese markets rallied. The Nikkei average jumped 1.14 percent to 38,487.90. The broader Topix index climbed 1.70 percent to 2,772.49.

Australian markets rose sharply. The benchmark S&P/ASX 200 rallied 0.96 percent to 7,701.70 while the broader All Ordinaries index closed up 0.95 percent at 7,970.80.

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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