FX.co ★ Wall Street Poised To Open In Negative Territory

The market activities on Friday may be shaped by the Existing Home Sales report, PMI data, and the latest earnings reports.

President Donald Trump's speeches have been closely monitored as he hints at the possibility of requesting Saudi Arabia and OPEC to reduce oil prices.

In the Asian markets, gold is nearing record highs, whereas oil prices remain uncertain. Asian stocks concluded higher on the whole, while European markets are experiencing an upward trend. As of 7:40 a.m. ET, Dow futures dropped by 116 points, S&P 500 futures decreased by 7.25 points, and Nasdaq 100 futures fell by 12.50 points.

On Thursday, major U.S. stock indices achieved new peaks. The Dow climbed by 408.34 points, or 0.9%, reaching 44,565.07; the S&P 500 increased by 32.34 points, or 0.5%, to 6,118.71; and the Nasdaq rose by 44.34 points, or 0.2%, to 20,051.68.

Regarding economic releases, the PMI Composite Flash index for January is set for release at 9:45 a.m. ET. The expected figure for the Manufacturing index is 48.9, down from December's 49.4. The Services index is anticipated at 56.7, compared to 56.8 the previous month. The Composite Index stood at 55.4 in the last month.

The Existing Home Sales figures for December are due at 10:00 a.m. ET, with expectations of a rise to 4.160 million, contrasting with November’s 4.150 million.

The Consumer Sentiment reading for January is also scheduled for 10:00 a.m. ET, maintaining the previous month's level at 73.2.

Furthermore, the Baker Hughes Rig Count will be reported at 1:00 p.m. ET. Last week, the North American rig count totaled 809, with the U.S. count at 580.

Asian markets saw broad increases on Friday. China’s Shanghai Composite index edged up by 0.70% to 3,252.63, while Hong Kong’s Hang Seng gained 1.86%, closing at 20,066.19.

Japan’s stock markets ended nearly unchanged, with the Nikkei and the broader Topix index slightly lower, closing at 39,931.98 and 2,751.04, respectively.

In Australia, markets ended the day on an upswing. The S&P/ASX 200 index increased by 0.36% to 8,408.90, and the broader All Ordinaries index rose by the same percentage, settling at 8,660.40.