FX.co ★ Wall Street Set To Open Broadly Higher

Producer Price Inflation (PPI) is expected to garner significant attention this Friday, alongside earnings reports from major corporations.

Current trends in the U.S. Futures Index indicate a mostly positive opening for Wall Street.

In Asian markets, shares showed mixed results. Gold prices edged lower, while oil prices continued to rise.

As of 7:55 AM ET, Dow futures had increased by 17.00 points, S&P 500 futures were up by 2.25 points, while Nasdaq 100 futures had declined by 2.25 points.

U.S. major stock averages concluded mostly in negative territory. The tech-centric Nasdaq experienced a substantial drop, falling 364.04 points or 2.0% to 18,283.41. The S&P 500 also declined, decreasing by 49.37 points or 0.9% to 5,584.54.

Conversely, the Dow spent much of the day hovering near the unchanged mark before closing with a modest gain of 32.39 points or 0.1% at 39,753.8.

On the economic calendar, the PPI-Final Demand report for June is set to be released at 8:30 AM ET, with a consensus expectation of a 0.1% increase, following a 0.2% decline in the previous month.

The Consumer Sentiment Index for July is scheduled for release at 10:00 AM ET, with an anticipated reading of 68.5, slightly up from 68.2 in the prior month.

Asian stock markets closed with mixed results on Friday. China’s Shanghai Composite Index ended a volatile session with a marginal gain.

Hong Kong’s Hang Seng Index surged by 2.59% to settle at 18,293.38.

Japanese markets faced significant declines. The Nikkei average dropped by 2.45% to 41,190.68, while the broader Topix Index fell by 1.18% to 2,894.56.

Australian markets performed notably well. The benchmark S&P/ASX 200 reached an all-time high of 7,969.10 before closing at 7,959.30, up 0.88%. The broader All Ordinaries Index rose by 0.89% to end at 8,206.10.