Markets

Wall Street To Bounce Back At Open

(RTTNews) - Early cues from the U.S. Futures Index suggest that Wall Street might open higher, despite lower open on Thursday. Asian shares finished mostly higher, while European shares are trading broadly down.

Rising coronavirus infections continue to be a concern for investors.

As of 8.25 am ET, the Dow futures were up 145.00 points, the S&P 500 futures were gaining 20.25 points and the Nasdaq 100 futures were adding 107.25 points.

The U.S. major averages all closed in negative territory but well off their lows of the session. The Dow fell 135.39 points or 0.5 percent to 26,734.71, the Nasdaq slid 76.66 points or 0.7 percent to 10,473.83 and the S&P 500 dipped 10.99 points or 0.3 percent to 3,215.57.

On the economic front, the Commerce and Housing & Urban Development department's Housing starts data for June will be issued at 8.30 am ET. The consensus is for an increase of 1.195 million, much higher than 0.974 million in the prior month. The University of Michigan's Consumer Sentiment report for July will be published at 10.00 am ET. The consensus is for 79.0, slightly up from 78.1 in the prior month. The Baker Hughes North American rig count, which tracks weekly changes in the number of active operating oil & gas rigs, will be released at 1.00 pm ET. In the prior week, the North American Rig Count was 284, while U.S. Rig Count was 258.

Asian stocks ended mostly higher on Friday. Chinese shares ended on a flat note. The benchmark Shanghai Composite index inched up 0.13 percent to 3,214.13, while Hong Kong's Hang Seng index rose 0.47 percent to 25,089.17.

Japanese shares ended lower. The Nikkei average slipped 73.94 points, or 0.32 percent, to 22,696.42, while the broader Topix index closed 0.33 percent lower at 1,573.85.

Australian markets finished modestly higher. The benchmark S&P/ASX 200 index edged up 22.70 points, or 0.38 percent, to 6,033.60. The broader All Ordinaries index ended up 21.90 points, or 0.36 percent, at 6,144.90.

European shares are trading broadly lower. Among the major indexes in the region, the CAC 40 Index of France is down 5.12 points or 0.09 percent. The German DAX is gaining 57.07 points or 0.44 percent, the U.K. FTSE 100 Index is progressing 41.18 points or 0.67 percent.

The Swiss Market Index is down 21.46 points or 0.21 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.20 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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