Early Trends Suggest A Positive Opening For Wall Street

The latest trends from U.S. Futures Index suggest that Wall Street aims high at opening. Amid a lean economic announcements, the market is waiting for the Employment situation data for July. Asian shares finished mixed while European shares are in positive territory.

As of 7 am ET, the Dow futures were climbing 45 points, the S&P 500 futures were adding 2.50 points and the Nasdaq 100 futures were progressing 7 points.

U.S. stocks closed mixed on Thursday. The Dow inched up 9.86 points or less than a tenth of a percent to 22,026.10, the Nasdaq fell 22.30 points or 0.4 percent to 6,340.34 and the S&P 500 dipped 5.41 points or 0.2 percent to 2,472.16.

On the economic front, the Labor Department’s Employment situation report for July will be issued at 8.30 am ET. The economists are looking for non-farm payrolls consensus of 178,000, down from 222,000 last month. Unemployment rate is expected to be 4.3 percent. Private payrolls is expected to be 175,000, down from 187,000 in th previous month.

Baker-Hughes 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 prior year, the North American rig count was 1178 and the U.S. rig cout was 958.

Treasury’s Separate Trading of Registered Interest and Principal of Securities or STRIPS auction will be held at 3.00 pm ET.

In the corporate sector, Cigna Corp. (CI) announced an increase in second quarter earnings to $750 million, or $2.91 per share from $515 million or $1.98 per share last year. Revenue for the quarter rose 3.6 percent to $10.32 billion from $9.96 billion last year.

Newell Brands, Inc. (NWL) announced a profit for its second quarter that gained ground from last year.

The company said its bottom line totaled $421.9 million, or $0.87 per share. This was higher than $349.2 million, or $0.78 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.87 per share, according figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company said revenue for the quarter rose 4.9% to $4.05 billion. This was up from $3.86 billion last year.

Asian shares ended mixed on Friday. China’s Shanghai Composite index fell 10.85 points or 0.33 percent to 3,262.08. Hong Kong’s Hang Seng index finished up 31.67 points or 0.12 percent at 27,576.68.
Japanese shares fell. The Nikkei average slid 76.93 points or 0.38 percent to 19,952.33 while the broader Topix index closed 0.15 percent lower at…

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