Wall Street Set For Higher Opening

13.01.17 13:32

VIENNA (dpa-AFX) - Trading in the U.

S. index futures suggest that Wall Street stocks may open Friday's session higher. The sentiments will be influenced by retail sales report. The market is keen to review the various corporate reports to be announced today. Asian shares closed mixed, while European shares are climbing.

As of 6:30 am ET, the Dow futures are progressing 25 points, the S&P 500 futures are advancing 3.25 points and the Nasdaq 100 futures are up 8 points.

U.S. stocks ended Thursday's session modestly lower. The major averages ended the day in negative territory but well off their lows of the session. The Dow fell 63.28 points or 0.3 percent to 19,891.00, the Nasdaq dipped 16.16 points or 0.3 percent to 5,547.49 and the S&P 500 edged down 4.88 points or 0.2 percent to 2,270.44.

On the economic front, the Commerce Department's retail sales data for December will be released at 8.30 am ET. The economists are looking for increase of 0.7 percent, from 0.1 percent last month.

Philadelphia Federal Reserve Bank President Harker will discuss economic mobility at Benjamin Franklin Birthday Celebration in Philadelphia, Pa., with audience Q&A at 9.30 am ET.

Commerce Department's business inventories report for November will be released at 10.00 am ET. The consensus is for a growth of 0.6 percent compared to a decline of 0.2 percent last month.

The Institute for Social Research of the University of Michigan's consumer sentiment index for January. The economists are looking for 98.6, slightly up from 98.2 a month ago.

The Baker Hughes North American rig count that tracks weekly changes in the number of active operating oil & gas rigs will be published at 1.00 pm ET. In the previous week the North American rig count was 870. U.S. rig count was 665.

In the corporate segment, Infosys Technologies Ltd. (INFY) announced third quarter net profit, on IFRS basis, of $547 million, 4.4 percent higher than last year's $524 million. Earnings per equity share were $0.24, higher than $0.23 a year ago. Revenues in the quarter grew 6 percent to $2.55 billion from last year's $2.41 billion. Revenues grew 7.3% in constant currency.

The company trimmed its forecast for fiscal 2017 revenue growth. For the year, the company now expects revenues to grow 8.4 to 8.8 percent, compared to previous guidance of 8 to- 9 percent growth in constant currency.

Boeing (BA) and SpiceJet announced a commitment for up to 205 airplanes. The deal includes 100 new 737 MAX 8s, SpiceJet's current order for 42 MAXs, 13 additional 737 MAXs which were previously attributed to an unidentified, as well as purchase rights for 50 additional airplanes.

Global investment firm KKR announced that HK Holdings Co., Ltd. an entity owned by investment funds controlled by KKR, intends to make a tender offer for all the existing common shares and stock acquisition rights of Hitachi Koki Co., Ltd. The tender offer price per Hitachi Koki stock acquisition right will be JPY 144,900.

Skyline Corp. (SKY) reported net loss of $595 thousand or $0.07 per share compared to net profit of $1.706 million or $0.20 per share last year. Net sales for the quarter increased 9.4 percent to $64.23 million from $58.68 million in the previous year.

Asian stocks closed broadly lower on Friday. China's Shanghai Composite index slid 6.52 points or 0.21 percent to 3,112.76. Data from the General Administration of Customs showed that China's exports fell an annual 6.1 percent in December, exceeding economists' forecast for a decrease of 4.0 percent. Hong Kong's Hang Seng index closed up 108.36 points or 0.47 percent at 22,937.38.

Japanese shares rebounded from two-week low. The Nikkei average climbed 152.58 points or 0.80 percent to 19,287.28, while the broader Topix closed 0.62 percent higher at 1,544.89.

Australian shares fell notably. The benchmark S&P/ASX 200 index fell 45.80 points or 0.79 percent to 5,721.10 while the broader All Ordinaries index closed 44.80 points or 0.77 percent lower at 5,776.80.

European shares are trading mostly higher. The CAC 40 Index of France is climbing 29.02 points or 0.60 percent, the German DAX is progressing 66.13 points or 0.57 percent, the U.K. FTSE 100 Index is up 28.73 points or 0.39 percent and the Swiss Market Index is advancing 54.04 points 0.65 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.61 percent.

Copyright RTT News/dpa-AFX


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