Wall Street To Gain At Open

Friday’s trading might be influenced by economics announcements, especially, the Personal Income and Spending report that includes readings on inflation.

Early signs from the U.S. Futures Index suggest that Wall Street might open higher. Asian shares finished mostly up, while European shares are gaining.

As of 7.50 am ET, the Dow futures were up 141.00 points, the S&P 500 futures were adding 17.25 points and the Nasdaq 100 futures were progressing 82.75 points.

The U.S. major averages finished higher on Thursday. The Nasdaq climbed 108.42 points or 0.8 percent to 13,201.28, the S&P 500 increased 25.19 points or 0.6 percent to 4,299.70 and the Dow rose 116.07 points or 0.4 percent to 33,666.34.

On the economic front, the International Trade in Goods (advance) for August will be released at 8.30 a.m. ET. The consensus is for a deficit of $90.1 billion, while in the prior month, the deficit was $90.9 billion.

Personal Income and Outlays for August will be published at 8.30 a.m. ET. The consensus is for growth of 0.4 percent, while it was up 0.2 percent in the prior month.

The Chicago PMI for September will be issued at 9.45 a.m. ET. The consensus is 47.9, while it was up 48.7 in the previous month.

The Consumer Sentiments for September will be revealed at 10.00 am ET. The consensus is 67.7.

The Baker Hughes Rig Count for the week. In the prior week, the North America rig count was 820 and the U.S. rig count was 630.

The Agriculture Department’s Farm Prices for August will be published at 3.00 pm ET. In the prior month, Farm prices were down 2.1 percent.

New York Fed President John Williams will deliver remarks and participates in a moderated discussion on the economic outlook and monetary policy before the Long Island Association Regional Economic Briefing at 12.45 pm ET.

Asian stocks ended mostly higher on Friday. Hong Kong’s Hang Seng index jumped 2.51 percent to 17,809.66.

Japanese shares ended little changed. The Nikkei average finished marginally lower at 31,857.62 as shipping stocks fell on going ex-dividend and energy stocks tracked oil prices lower.

In Australia, the benchmark S&P/ASX 200 rose 0.34 percent to 7,048.60. The broader All Ordinaries index gained 0.38 percent to close at 7,249.70.

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