Wall Street Poised To Open Mostly Down

On a lean day of economic announcements, investors are looking ahead to next week’s Fed meeting and inflation data.

On Friday, investors are focusing on geo-political developments. Thousands of people were evacuated from the Kakhovka dam region in Ukraine. Rescue operations are continuing. Both Russia and Ukraine accused each other of the attack on the dam.

Meanwhile, Norwegian scientists hinted about a possible explosion in the dam region.
Early signs from the U.S. Futures Index on Friday suggest that Wall Street might open broadly down.

Asian shares finished mostly up, while European shares are trading down.
As of 7.25 am ET, the Dow futures were down 68.00 points, the S&P 500 futures were sliding 2.00 points and the Nasdaq 100 futures were progressing 12.50 points.

The U.S. major averages ended Thursday just off their highs of the session. The Nasdaq jumped 133.63 points or 1.0 percent to 13,238.52, the S&P 500 climbed 26.41 points or 0.6 percent to 4,293.93 and the Dow rose 168.59 points or 0.5 percent to 33,833.61.

On the economic front, the Census Bureau’s Quarterly Services Survey for the first quarter will be released at 10.00 am ET. In the prior quarter, the Selected Services Revenue was up 2.9 percent. Information Revenue quarter on quarter was down 3.7 percent.

The Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, the North America rig count was up 793 and the U.S. rig count was up 696.

Asian markets finished on a positive note. China’s Shanghai Composite Index gained 18 points or 0.55 percent to finish trading at 3,231.41. The Hang Seng Index of the Hong Kong Stock Exchange added 91 points or 0.47 percent from the previous close to finish trading at 19,389.95.

The Japanese benchmark Nikkei 225 surged 624 points or 1.97 percent to end trading at 32,265.17.

Australia’s S&P/ASX200 closed trading at 7,122.50 after gaining 22.80 points or 0.32 percent.

European shares are trading lower. CAC 40 of France is down 26.63 points or 0.37 percent. DAX of Germany is declining 50.45 points or 0.32 percent. FTSE 100 of England is down 38.71 points or 0.51 percent. The Swiss Market Index is sliding 62.15 points or 0.54 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.34 percent.

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