Wall Street Poised To Open In Negative

Friday, earlier trends on the U.S. Futures Index suggest that Wall Street might open in the negative territory.

Asian shares finished mostly down, while European shares are trading higher.
Investors might be reacting to Producer Price Inflation today.

Crude prices are trending up expecting potential supply disruptions in the Red Sea.

As of 7.25 am ET, the Dow futures were sliding 170.00 points, the S&P 500 futures were declining 13.25 points and the Nasdaq 100 futures were falling 60.00 points.

The U.S. major averages finished mostly lower on Thursday. The Dow fell as much as 270 points but rebounded to end the day up 15.29 points or less than a tenth of a percent at 37,711.02. The Nasdaq also crept up 0.54 points or less than a tenth of a percent to 14,970.19, but the S&P 500 edged down 3.21 points or 0.1 percent at 4,780.24.

On the economic front, the Producer Price Index for December will be issued at 8.30 am ET. The consensus is for an increase of 0.2 percent, while it was at 0.0 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 746 and the U.S. rig count was 621.

Minneapolis Fed President Neel Kashkari will participate in a fireside chat before the virtual 2024 Regional Economic Conditions Conference hosted by the Federal Reserve Bank of Minneapolis at 10.00 am ET.

Asian stocks ended mostly lower on Friday. China’s Shanghai Composite index eased 0.16 percent to 2,881.98 while Hong Kong’s Hang Seng index dropped 0.35 percent to 16,244.58.

Japanese markets extended their recent rally. The Nikkei average jumped 1.50 percent to 35,577.11. The broader Topix index settled 0.46 percent higher at 2,494.23, its highest level since March 1990.

Australian markets ended slightly lower. The benchmark S&P ASX 200 edged down 0.10 percent to 7,498.30 while the broader All Ordinaries index ended little changed with a negative bias at 7,730.50.

European shares are trading higher. CAC…