Wall Street Might Open In Negative Territory

On a calmed trading day, investors might be focusing on geo-political developments.
Asian shares finished mostly down, while European shares are trading lower.

Early signs from the U.S. Futures Index suggest that Wall Street might open in negative.

As of 7.55 am ET, the Dow futures were down 45.00 points, the S&P 500 futures were declining 7.00 points and the Nasdaq 100 futures were falling 39.50 points.

The U.S. major averages finished lower on Thursday. The Nasdaq slumped 123.64 points or 0.9 percent to 13,748.83 and the S&P 500 fell 14.34 points or 0.3 percent to 4,451.14. Meanwhile, the narrower Dow climbed into positive territory and ended the day up 57.54 points or 0.2 percent at 34,500.73.

On the economic front, the Wholesale Inventories (preliminary) for July will be issued at 10.00 am ET. The consensus is for a decline of 0.1 percent, while it was down 0.5 percent in the prior month.

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 818 and the U.S. rig count was 631.

The Consumer Credit for July is expected at 3.00 pm ET. The consensus is $18.0 billion, while it was up $17.9 billion in June.

Asian stocks fell on Friday. Hong Kong’s markets were closed due to a tropical storm.
Chinese shares fell slightly. The benchmark Shanghai Composite index slipped 0.18 percent to 3,116.72.

Japanese shares tumbled today. The Nikkei average fell 1.16 percent to 32,606.84 while the broader Topix index settled 1.02 percent lower at 2,359.02.

European shares are trading in a negative trend. CAC 40 of France is down 8.19 points or 0.22 percent. DAX of Germany is declining 69.65 points or 0.41 percent. FTSE 100 of England is down 8.93 points or 0.11 percent. The Swiss Market Index is sliding 50.50 points or 0.46 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.31 percent.

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