Wall Street Might Open Broadly Up

The personal income and spending in September might get special attention on Friday.
After the bell, major corporates such as Amazon (AMZN) and Intel (INTC) have scheduled to report their quarterly earnings results.

Investors are also watching the geo-political situations. After the airstrikes, Israel has started targeted land raids in Gaza. The new turn in the war between Israel and Gaza might result in more casualties.

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

Asian shares finished positive, while European shares are trading down.
As of 7.44 am ET, the Dow futures were down 85.00 points, the S&P 500 futures were climbing 7.75 points and the Nasdaq 100 futures were improving 98.50 points.

The U.S. major averages finished lower at the close on Thursday. The Nasdaq tumbled 225.62 points or 1.8 percent to 12,595.61, the S&P 500 climbed 49.54 points or 1.2 percent to 4,137.23 and the Dow slid 251.63 points or 0.8 percent to 32,784.30.

On the economic front, the Personal Income and Outlays for September will be published at 8.30 am ET. The consensus is for 0.4 percent, while it was up 0.4 percent in the prior month.

The Consumer Sentiment for October will be revealed at 10.00 am ET. The consensus is 63.0, while it was up 63.0 in September.

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 822 and the U.S. rig count was 624.

The Fed Vice Chair for Supervision Michael Barr will give opening remarks before second day of the Economics of Payments XII Conference at 9.00 am ET.

Asian stocks finished higher on Friday. Chinese shares rallied today. The benchmark Shanghai Composite index gained 0.99 percent to 3,017.78 while Hong Kong’s Hang Seng index jumped 2.08 percent to 17,398.73.

Japanese shares rose sharply. The Nikkei average was up 1.27 percent to 30,991.69 while the broader Topix index settled 1.37 percent higher at 2,254.65.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 edged up 0.21 percent to 6,826.90, with banks and consumer staple stocks pacing the gainers. The broader All Ordinaries index closed up 0.19 percent at 7,014.20.

European shares are mostly progressing. France’s CAC 40 is sliding 31.37 points or 0.46 percent. Germany’s DAX is up 78.77 points or 0.53 percent. FTSE 100 of U.K. is advancing 14.29 points or 0.20 percent. Swiss Market Index is adding 13.71 points or 0.13 percent.

Eurozone’s leading Blue Chip index,Euro Stoxx 50, is progressing 0.07 percent.

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