Wall Street Set To Open Lower
Asian shares finished mostly higher, while European shares are trading lower.
As of 7.30 am ET, the Dow futures were down 46.00 points, the S&P 500 futures were declining 8.00 points and the Nasdaq 100 futures were sliding 21.75 points.
The U.S. major indices finished broadly higher on Thursday. The Dow edged down 7.10 points or less than a tenth of a percent to 31,430.70, while the broader Nasdaq and S&P 500 closed in positive territory. The Nasdaq climbed 53.24 points or 0.4 percent to 14,025.77 and the S&P 500 rose 6.50 points or 0.2 percent to 3,916.38.
On the economic front, the University of Michigan s Consumer Sentiment Survey report for February will be published at 10.00 am ET. The consensus is for 80.9, while it was up 79.0 in the prior month.
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U.S. Dollar Index (DX) Futures Technical Analysis – Supported by 90.385 – 90.100 Retracement ZoneThe early price action suggests the direction of the index on Friday will be determined by trader reaction to 90.385.
Feb 12, 2021 08:37 AM GMT
The U.S. Dollar is edging higher against a basket of major currencies for a second session on Friday after finding support at a short-term retracement zone earlier in the week. Helping to boost the index is a weaker Euro, Japanese Yen and British Pound.
The early move suggests profit-taking is driving the index higher ahead of the weekend. Concerns that the U.S. stock market rally may be running out of steam is also sending a few buyers into the safe-haven greenback.
Fed meeting, Big Tech earnings, Q4 GDP: What to know in the week ahead Emily McCormick
Traders will have no shortage of events to consider this week, with the Federal Open Market Committee’s January policy meeting and bevy of major corporate earnings results and economic data releases all on deck.
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January FOMC meeting
In recent public statements, Federal Reserve officials have signaled a commitment to keeping their feet on the gas pedal with respect to their crisis-era monetary policy support.
Namely, Fed officials have signaled that interest rates would stay at their current near-zero level through at least 2023, and that their aggressive asset purchase program would continue at the current rate of $120 billion per month until “substantial further progress” is made in the economic recovery.