Wall Street To Gain Momentum At Opening

The economic calendar for Friday is relatively subdued and earnings might get special attention.

Intel (INTC), Twitter (TWTR), Capital One (COF), and Snap (SNAP) are set to report their quarterly results after the close of today’s trading.

Asian shares finished mixed, while European shares are trading higher.

Early trend on the U.S. Futures Index suggest that Wall Street might open positive.

As of 7.50 am ET, the Dow futures were adding 163.00 points, the S&P 500 futures were up 18.25 points and the Nasdaq 100 futures were progressing 48.75 points.

The U.S. major averages all finished Thursday in positive territory. The Dow inched up 25.35 points or 0.1 percent to 34,823.35, the Nasdaq rose 52.64 points or 0.4 percent to 14,684.60 and the S&P 500 edged up 8.79 points or 0.2 percent to 4,367.48.

On the economic front, the flash Composite Purchasing Managers’ Index or PMI for July will be published at 9.45 am ET. In the prior month, the composite index was up 63.9.

The Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, the North American Rig Count was 634 and the U.S. Rig Count was 484.

Asian stocks ended mixed on Friday. Chinese and Hong Kong shares fell. China’s Shanghai Composite index fell 24.34 points, or 0.68 percent, to 3,550.40 while the Hang Seng index ended down 401.86 points, or 1.45 percent, at 27,321.98.

Australian markets fluctuated before ending little changed. The benchmark S&P/ASX 200 inched up 8 points, or 0.11 percent, to 7,394.40 while the broader All Ordinaries index ended up 12 points, or 0.16 percent, at 7,670.90.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 64.84 points or 1.00 percent. The German DAX is adding 149.77 points or 0.96 percent, the U.K. FTSE 100 Index is gaining 55.66 points or 0.80 percent.

The Swiss Market Index is adding 118.52 points or 0.99 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.03 percent.

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