Futures Suggest Wall Street To Open Firmly In Negative

Earnings season is tapering and the department store operator J.C. Penney will be releasing its third quarter results today.

Speaking at the Asia-Pacific Economic Co-operation summit in Vietnam, during the five-nation Asia tour, President Trump said “U.S. will no longer tolerate chronic trade abuses.”

The signs from the U.S. Future Index show that there are nothing much to excite the investors and hence Wall Street might be opening negative. Asian shares closed broadly lower, while European shares are in the red.
As of 6.00 am ET, the Dow futures were slipping 46 points, the S&P 500 futures were shedding 8.75 points and the Nasdaq 100 futures were slipping 23.25 points.

U.S. stocks closed firmly negative on Thursday. The Dow fell 101.42 points or 0.4 percent to 23,461.94, the Nasdaq slid 39.07 points or 0.6 percent to 6,750.05 and the S&P 500 dropped 9.76 points or 0.4 percent to 2,584.62.

On the U.S. economic front, Consumer Sentiment for November will be published at 10.00 am ET. The economist are looking for consensus of 100.00, slightly down from 100.7 in the previous period.

Baker-Hughes rig count for the week will be released by 1.00 pm ET. The North American Rig Count in the prior week was 1090, while U.S. rig count was 898.

In the corporate sector, Integrated steel and mining company ArcelorMittal (MT) reported that its third-quarter net income attributable to equity holders of the parent climbed to $1.21 billion from last year’s $680 million. Earnings per share were $1.18, higher than $0.67 last year. Operating income of $1.2 billion increased 2.5% from last year. EBITDA of $1.9 billion grew 1.5 percent. Sales for the quarter were $17.64 billion, higher than $14.52 billion a year earlier.

Digital Health provider Physitrack, one of Apple’s first Mobility Partners, announced that it will seek to publicly list the company on Nasdaq First North in 2018.

Asian stocks finished broadly lower on Friday. China’s Shanghai Composite index inched up 4.88 points or…

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