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FX.co ★ Futures Point To Positive Open For Wall Street

Futures Point To Positive Open For Wall Street

Markets appear poised for a subdued opening on Friday, which will be an early closing day. The OPEC meeting, initially scheduled for a discussion on production strategies, has been moved to December 5th, while oil prices continue their downward trajectory.

In the Asian markets, the session concluded with most indices posting gains, and European markets are currently trading in positive territory. Projections from the U.S. Futures Index indicate that Wall Street is likely to begin the day on an upward trend.

At 7:25 am ET, Dow futures had risen by 159.00 points, S&P 500 futures had increased by 17.75 points, and Nasdaq 100 futures were up by 64.00 points.

The previous day's trading saw the U.S. major averages close in the red. The Nasdaq dipped by 115.10 points, or 0.6%, finishing at 19,060.48. Meanwhile, the Dow decreased by 138.25 points, or 0.3%, to close at 44,722.06, and the S&P 500 fell 22.8 points, or 0.4%, to 5,998.74, ending a seven-day winning streak.

On the economic agenda, October's Farm Prices report is set to be released at 3:00 pm ET. The previous month recorded a decline of 5.6%. The Fed's Balance Sheet for the week will be out at 4:30 pm ET, with the last week's level standing at $6.924 trillion.

Globally, Asian markets showed mixed results on Friday. The Shanghai Composite index in China gained 0.93% to close at 3,326.46, while Hong Kong's Hang Seng index rose 0.29% to 19,423.61. Japanese markets faced declines; the Nikkei average fell 0.37% to 38,208.03, marking a 0.2% weekly decline and its third consecutive week of losses, as the Topix index ended 0.24% lower at 2,680.71. Australian markets closed slightly lower.

In Europe, shares are mostly rising. France's CAC 40 is up 29.02 points, or 0.40%, Germany's DAX has added 77.98 points, or 0.40%, and England's FTSE 100 has marginally decreased by 0.95 points, or 0.01%. The Swiss Market Index has risen by 14.25 points, or 0.12%. The Euro Stoxx 50, which highlights leading Eurozone supersector stocks, is up by 0.31%.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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