Wall Street Might Open Moderately Lower

(RTTNews) - Investors are much worried as coronavirus cases around the world soared past one million, and the U.S. has reported more than 245,500 cases, with more than 6,000 deaths.

Initial signs from the U.S. Futures Index suggest that Wall Street might open moderately lower.

Asian shares finished mostly lower, while European shares are trading down. The monthly employment report, the Markit Economics' PMI Services Index for March as well as Institute for Supply Management's Non-Manufacturing Index for March are the major economic announcements on Friday.

As of 8.10 am ET, the Dow futures were losing 76.00 points, the S&P 500 futures were down 6.25 points and the Nasdaq 100 futures were sliding 21.50 points.

The U.S. major averages ended Thursday firmly in positive territory. The Dow surged up 469.93 points or 2.2 percent to 21,413.44, the Nasdaq jumped 126.73 points or 1.7 percent to 7,487.31 and the S&P 500 spiked 56.40 points or 2.3 percent to 2,526.90.

On the economic front, the Labor Department's Employment Situation for March will be published at 8.30 am ET. The consensus for non-farm payrolls is for a decline of 150,000, while it was up 273,000 in the prior month.

The Markit Economics' PMI Services Index for March will be issued at 9.45 am ET. The consensus is for 39.1, while it was up 49.4 in the prior year.

Institute for Supply Management's Non-Manufacturing Index for March will be released at 10.00 am ET.

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 782, while U.S. Rig Count was 728.

Asian stocks ended broadly lower on Friday. Chinese shares ended lower amid fear of a potential second wave of infections in the country. The benchmark Shanghai Composite index slid 0.6 percent to 2,763.99. Hong Kong's Hang Seng index declined 0.19 percent to close at 23,236.11.

Japanese shares ended flat with a positive bias. The Nikkei average finished marginally higher at 17,820.19. The broader Topix index closed 0.36 percent lower at 1,325.13.

Australian markets ended sharply lower for the day. The benchmark S&P/ASX200 fell 86.80 points, or 1.68 percent, to 5,067.50, while the broader All Ordinaires index ended down 81.80 points, or 1.58 percent, at 5,106.90.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is down 27.10 points or 0.64 percent. The German DAX is progressing 40.80 points or 0.47 percent, the U.K. FTSE 100 Index is sliding 26.70 points or 0.43 percent.

The Swiss Market Index is up 22.78 points or 0.25 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.045 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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