Markets

Wall Street To Open Higher

(RTTNews) - Retail Sales, Import and Export Prices as well as Industrial Production report for October are the highlights on Friday.

Asian shares finished mostly higher, while European shares are trading broadly up.

Investors are keenly observing the geopolitical developments.

Early signs from the U.S. Futures Index suggest that Wall Street might open positive.

As of 7 am ET, the Dow futures were gaining 69.00 points, the S&P 500 futures were adding 6.75 points and the Nasdaq 100 futures were up 26.25 points.

The major averages eventually ended the day mixed, with the S&P 500 inching up 2.59 points or 0.1 percent to a new record closing high of 3,096.63. The Dow edged down 1.63 points or less than a tenth of a percent to 27,781.96 and the Nasdaq slipped 3.08 points or less than a tenth of a percent to 8,479.02.

On the economic front, Retail Sales for October will be published at 8.30 am ET. The consensus for retail sales is an increase of 0.2 percent, while it declined 0.3 percent last month.

Empire State Manufacturing Survey for November will be issued at 8.30 am ET. The consensus is for a growth of 0.5 percent, slightly higher than the increase of 0.4 percent in the previous month.

The Labor Department's Import and Export Prices for October will be released at 8.30 am ET. The consensus is for a decline of 0.2 percent, compared to a growth of 0.2 percent in September.

The Fed's Industrial Production for October will be revealed at 9.15 am ET. The monthly production data is expected to decline by 0.4 percent, unchanged from the prior month. The capacity utilization rate is projected to be 77.2 percent, while it was up 77.5 in the prior month.

The Commerce Department's Business Inventories for September is scheduled at 10.00 am ET. The consensus is for an increase of 0.1 percent. The index might have an impact on production activities in the near future.

The Baker-Hughes Rig Count for the week will be released at 1.00 pm ET. In the prior week, the North American Rig Count was 957, while U.S. Rig Count was 817.

San Francisco Federal Reserve Bank President Mary Daly will participate in a panel discussion on "Macro Implications of Structural Change in the Labor Market" at the Clausen Center Conference on Global Economic Issues 2019 in Berkeley, California at 5.00 pm ET.

Asian stocks climbed mostly higher on Friday. Chinese shares closed lower. Shanghai Composite index ended down 0.64 percent at 2,891.34. Hong Kong's Hang Seng index ended up 2.97 points or 0.01 percent.

Japanese shares closed higher. The Nikkei average gained 161.77 points, or 0.70 percent, to finish at 23,303.32 while the broader Topix index closed 0.73 percent higher at 1,696.67.

Australian markets rose sharply. The benchmark S&P/ASX 200 index climbed 58.60 points, or 0.87 percent, to 6,793.70 while the broader All Ordinaries index ended up 58.10 points, or 0.85 percent, at 6,898.90.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is adding 9.53 points or 0.16 percent. The German DAX is losing 0.82 points or 0.01 percent, the U.K. FTSE 100 Index is declining 48.15 points or 0.66 percent. The Swiss Market Index is progressing 37.19 points or 0.36 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.052 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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