Futures Point To Positive Open For Wall Street

As there are not many economic announcements, the Personal Income and Spending in May might be the highlight on Friday.

Asian shares finished mixed, while European shares are trading up.

As of 7.40 am ET, the Dow futures were up 92.00 points, the S&P 500 futures were adding 15.50 points and the Nasdaq 100 futures were progressing 69.50 points.

On Thursday, the Dow showed a notable advance, with the blue-chip index climbing 269.76 points or 0.8 percent to 34,122.42.

The S&P 500 also rose 19.58 points or 0.5 percent to 4,396.44. The Nasdaq edged down 0.42 points or less than a tenth of a percent to 13,591.33.

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

The Chicago PMI for June will be published at 9.45 am ET. The consensus is 44.2, while it was up 40.4 in May.

The University of Michigan’s Consumer Sentiment for June will be published at 10.00 am ET. The consensus is for 63.9, while it was up 63.9 in the prior month.

The Baker Hughes Rig Count for the week will be released at 1.00 pm ET. In the prior week, the North America rig count was 851, while the U.S. rig count was 682.

The Agriculture Department’s Farm Prices for May will be issued at 3.00 pm ET. In the prior month, the prices were up 1.9 percent.

Asian stocks ended mostly higher on Friday. Chinese shares finished notably higher.
China’s Shanghai Composite index rose 0.62 percent to 3,202.06.

Hong Kong’s Hang Seng index finished marginally lower at 18,916.43.

Japanese shares ended in the red. The Nikkei average cut early losses to finish 0.14 percent lower at 33,189.04 while the broader Topix index ended down 0.33 percent at 2,288.60.

Australian markets edged up slightly. The benchmark S&P/ASX 200 inched up 0.12 percent to 7,203.30 while the broader All Ordinaries index gained 0.16 percent to close at 7,401.50.

European shares are trading higher. CAC 40 of France is gaining 77.01 points or 1.05 percent. DAX of Germany is adding 169.37 points or 1.06 percent. FTSE 100 of England is progressing by 50.99 points or 0.68 percent. Swiss Market Index is up 99.59 points or 0.89 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.83 percent.

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