Wall Street Might Bounce Back At Open

(RTTNews) - Earlier cues from the U.S. Futures suggest that Wall Street might be trending back to positive territory on Friday.

In the Asian trading session, the dollar was gaining. Gold and oil prices fell more than 1 percent.

Asian shares finished lower, while European shares are trading mostly lower.

As of 7.45 am ET, the Dow futures were up 292.00 points, the S&P 500 futures were gaining 31.00 points and the Nasdaq 100 futures were progressing 97.25 points.

The U.S. major averages ended Thursday lower. The Nasdaq plummeted 486.18 points or 2.2 percent to 22,078.05, the S&P 500 plunged 103.40 points or 1.6 percent to 6,538.76 and the Dow slumped 386.51 points or 0.8 percent to 45,752.26,

On the economic front, the PMI Composite Flash for November will be issued at 9.45 am ET. The consensus for manufacturing Index is 52.3, while the prior final index was 52.5. Services Index is expected to be 54.8, while it was up 54.8 in the previous month.

The Consumer Sentiment for November will be released at 10.00 am ET. The consensus is 50.5, while it was up 50.3 in the prior month.

The Baker Hughes Rig Count for the week will be published at 1.00 pm ET. In the prior week, the North America rig count was 737 and the U.S. rig count was 549.

The Wholesale Inventories (Preliminary) for August will be revealed at 10.00 am ET. The consensus is for a decline of 0.2 percent.

Fed Governor Michael Barr will give welcome remarks before the College Fed Challenge Finals at 8.30 am ET.

Dallas Fed President Lorie Logan will participate in moderated panel before the 'SNB and its Watchers 2025' event at 9.00 am ET.

Boston Fed President Susan Collins will give opening remarks before the 'U.S. Economy in a Changing Landscape' conference at the Federal Reserve Bank of Boston at 9.00 am ET.

Asian stocks followed Wall Street lower on Friday. Chinese markets were lower and the benchmark Shanghai Composite index was down 2.45 percent to 3,834.89.

Hong Kong's Hang Seng index finished 2.38 percent lower at 25,220.02.

Japanese markets lost ground. The Nikkei average fell 2.40 percent to 48,625.88 while the broader Topix index finished marginally lower at 3,297.73.

Australian markets hit a five-month low. The benchmark S&P/ASX 200 dropped 1.59 percent to 8,416.50 while the broader All Ordinaries closed down 1.67 percent at 8,686.30.