Futures Point To Broadly Lower Open For Wall Street

Reports on Industrial Production and Consumer Sentiment, as well as Inflation expectations, might be influencing investor sentiments on Friday.

Early signs from the U.S. Futures Index suggest that Wall Street might be opening mostly in the negative territory.

Asian shares finished higher, while European shares are trading mostly down.

As of 8.10 am ET, the Dow futures were down 172.00 points, the S&P 500 futures were declining 15.50 points and the Nasdaq 100 futures were progressing 7.50 points.

On Thursday, the Nasdaq spiked 283.22 points or 2.5 percent to 11,717.28. The S&P 500 surged 68.35 points or 1.8 percent to 3,960.28 and the Dow jumped 371.98 points or 1.2 percent to 32,246.55.

On the economic front, the Fed Industrial Production for February will be published at 9.15 am ET. The consensus is for an increase of 0.4 percent, while it was at 0.0 percent in the prior month.

The Consumer Sentiment for March will be released at 10.00 am ET. The consensus is for 67.0, while it was up 67.0 in the prior month.

The Conference Board’s Leading Indicators for February will be issued at 10.00 am ET. The consensus is for a decline of 0.2 percent, while it was down 0.3 percent in the previous month.

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 969 and the U.S. rig count was 746.

Asian stocks ended broadly higher on Friday. Chinese shares rose notably, with the benchmark Shanghai Composite index closing 0.73 percent higher at 3,250.55.

Hong Kong’s Hang Seng index jumped 1.64 percent to 19,518.59, led by technology stocks.

Japanese shares rose sharply. The Nikkei average rallied 1.20 percent to 27,333.79, while the broader Topix index closed 1.15 percent higher at 1,959.42.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 0.42 percent to 6,994.80 but posted a weekly decline of 2.1 percent. The broader All Ordinaries index settled half a percent higher at 7,188.20.

European shares are trading mostly lower. CAC 40 of France is down 14.55 points or 0.21 percent. DAX of Germany is declining 18.82 points or 0.15 percent. FTSE 100 of England is sliding 9.26 points or 0.11 percent. Swiss Market Index is down 47.71 points or 0.45 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.18 percent.

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