On Friday, the focus of investors will likely be directed towards a variety of financial developments and indicators, such as Consumer Sentiment reports, inflation cues, Federal Reserve speeches, and earnings reports. During the Asian trading session, both gold and oil prices were on track for weekly gains.
Asian markets ended the day mostly higher, while European shares seemed to follow the upward trend. As noted at 7:55 am ET, the Dow futures had risen by 81.00 points, while the S&P 500 futures gained 15.25 points and the Nasdaq 100 futures leapt forward by 67.00 points.
The major U.S. indices closed Thursday's session near their session highs. in detail: the Dow surged 331.37 points or 0.9% to 39,387.76, the S&P 500 escalated by 26.41 points or 0.5% to reach 5,214.08, and the Nasdaq ascended by 43.51 points or 0.3% to 16,346.26.
Turning to economic news, the Consumer Sentiment report for May is set to be released at 10:00 am ET. The consensus prediction stands at 77.0, up from 77.2 in the previous month. At 1:00 pm ET, the Baker Hughes Rig Count for the week will be unveiled. Last week, the North American rig count stood at 725, with the U.S. rig count at 605.
The Treasury's April report is scheduled for 2:00 pm ET, with a consensus estimate at $236.0 billion, almost unchanged from last month's deficit of $236.5 billion. Fed Governor Michelle Bowman will discuss "Financial Stability Risks: Resiliency and the Role of Regulators" at the Texas Bankers Association Annual Convention at 9:00 am ET.
Other speakers include Dallas Fed President Lorie Logan at the Louisiana Bankers Association Annual Conference and Minneapolis Fed President Neel Kashkari at a Q&A session facilitated by Rick King, Chair of Minnesota's Technology Advisory Council; both slated for 10:00 am ET. Later, Fed Vice Chair for Supervision Michael Barr is slotted to deliver a commencement speech at the American University School of Public Affairs Graduation ceremony at 1:30 pm ET.
Asian stocks saw a surge on Friday, with China's stocks remaining steady. The Shanghai Composite index increased slightly to 3,154.55. Meanwhile, Hong Kong's Hang Seng index soared 2.30% to 18,963.68. Japan's markets also gained, with the Nikkei average and the Topix index rising 0.41% and 0.54%, respectively. Australian markets saw modest growth, with the S&P ASX 200 growing 0.35% to 7,749 and the All Ordinaries index up 0.36% at 8,022.70.
European markets are also showing positive trades. France's CAC 40 has grown by 55.45 points or 0.68%, Germany's DAX has increased by 104.36 points or 0.56%, and England's FTSE 100 is up 67.24 points or 0.80%. The Swiss Market Index has gained 127.41 points or 1.10%. Lastly, the Euro Stoxx 50, which provides a Blue-chip representation of leading industries in the Eurozone, has risen by 0.75%.
