Futures Suggest Broadly Lower Open For Wall Street

Asian shares finished mixed, while European shares are trading lower. Initial cues from the U.S. Futures Index point to a broadly lower opening.

Bureau’s International Trade in Goods for April, Personal Income and Outlays for April as well as Retail Inventories for April are expected on the day.

Unrest in Minneapolis is continuing for the third night as a protest sparked by the death of George Floyd.

As of 8.15 am ET, the Dow futures were losing 116.00 points, the S&P 500 futures were down 7.75 points and the Nasdaq 100 futures were slightly up 18.75 points.

The U.S. major averages ended Thursday in the red. The Dow fell 147.63 points or 0.6 percent to 25,400.64, the Nasdaq slid 43.37 points or 0.5 percent to 9,368.99 and the S&P 500 dipped 6.40 points or 0.2 percent to 3,029.73.

On the economic front, the Census Bureau’s International Trade in Goods for April will be issued at 8.30 am ET. The consensus is for a decline of $64.7 billion while it was down $64.2 billion in the prior month.

Personal Income and Outlays for April will be issued at 8.30 am ET. The consensus is for a decline of 6.0 percent, while it was down 2.0 percent.

Retail Inventories for April will be released at 8.30 am ET. In the prior month, the change was 0.9 percent.

Market News International’s Chicago PMI for May will be issued at 9.45 am ET. The consensus is for 40.0, while it was 35.4 in the prior month.

Consumer Sentiment report for May will be issued at 10.00 am ET. The consensus is for 74.0, slightly up from 73.7 in the prior month.

Asian stocks ended mixed in cautious trade on Friday. Chinese shares rose after Premier Li Keqiang said the country has room to stimulate the economy. The benchmark Shanghai Composite index inched up 0.22 percent to 2,852.35, while Hong Kong’s Hang Seng index ended down 0.74 percent at 22,961.47.

Japanese shares ended lower to snap a four-day winning streak. The core consumer price index rose from the previous -0.1 percent to 0.2 percent. The Nikkei average edged down 38.42 points, or 0.18 percent, to 21,877.89, while the broader Topix index closed 0.87 percent lower at 1,563.67.

Australian markets fell notably. The benchmark S&P/ASX 200 tumbled 95.40 points, or 1.63 percent, to 5,755.70, while the broader All Ordinaries index ended down 85.60 points, or 1.44 percent, at 5,872.20.

European shares are trading mostly down. Among the major indexes in the region, the CAC 40 Index of France is falling 9.24 points or 0.19 percent. The German DAX is losing 56.74 points or 0.48 percent, the U.K. FTSE 100 Index is declining 56.19 points or 0.90 percent.

The Swiss Market Index is gaining 1.82 points or 0.02 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.031 percent.

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