Wall Street Might Turn Lower At Open

The investors will keep an eye on Fed Chair Jerome Powell's remarks on Friday morning and other Fed speeches scheduled for the day. No major economic announcements are there to focus.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished broadly down, while European shares are trading mostly lower.

As of 7.50 am ET, the Dow futures were down 32.00 points, the S&P 500 futures were declining 7.50 points and the Nasdaq 100 futures were falling 52.00 points.

The U.S. major averages finished higher on Thursday. The Dow climbed 269.24 points or 0.7 percent to 39,781.37, the S&P 500 rose 16.91 points or 0.3 percent at 5,241.53 and the Nasdaq edged up 32.43 points or 0.2 percent to 16,401.84.

On the economic front, Fed Chairman Jerome Powell will give welcome remarks before a 'Fed Listens' event at 9.00 am ET. The event will discuss perspectives on current economic conditions and how the pandemic experience has reshaped the economy and the workforce.

Fed Vice Chair Philip Jefferson will moderate Panel 2: Industry Perspectives before a 'Fed Listens' at 10.00 am ET.

Fed Vice Chair for Supervision Michael Barr will participate virtually in International Economic and Monetary Design discussion at 12.15 pm ET.

Atlanta Fed President Raphael Bostic will participate in moderated conversation on 'Household Finance' before the 2024 Household Finance Conference at 4.00 pm ET.

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 836 and the U.S. rig count was 629. The Canada rig count was 207.

Asian markets finished mixed on Friday. China's Shanghai Composite Index slipped 0.95 percent to close at 3,048.03. The Hang Seng Index of the Hong Kong Stock Exchange slipped 363 points or 2.16 percent from the previous close to finish trading at 16,499.47.

The Japanese benchmark Nikkei 225 added 73 points or 0.18 percent to close at 40,888.43.

Australia's S&P/ASX200 closed trading at 7,770.60, shedding 11 points or 0.15 percent.

European shares are trading mostly lower. CAC 40 of France is down 37.23 points or 0.46 percent. DAX of Germany is adding 2.19 points or 0.01 percent. FTSE 100 of England is progressing 33.61 points or 0.43 percent. The Swiss Market Index is sliding 36.96 points or 0.32 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.67 percent.

Market Analysis