Friday's spotlight is likely to be on the reports concerning Retail Sales and Industrial Production. Indications from the U.S. Futures Index highlight a potential downturn for Wall Street at the opening bell. Gold, during the Asian trading session, remained close to $2,560 per ounce, whereas oil prices were poised to register a weekly decline due to mounting concerns.
Asian markets concluded the day mostly in the red, while their European counterparts are following a similar trend. The major U.S. indices dipped on Friday, with the Dow falling 207.33 points, or 0.5%, to close at 43,750.86. The Nasdaq decreased by 123.07 points, or 0.6%, ending at 19,107.65, and the S&P 500 lost 36.21 points, or 0.6%, closing at 5,949.17.
As of 7:35 a.m. ET, Dow futures were down 166.00 points, S&P 500 futures fell by 31.00 points, and Nasdaq 100 futures declined 166.75 points.
In terms of economic updates, the October Retail Sales report is expected at 8:30 a.m. ET, with forecasts predicting a 0.3% increase compared to a 0.4% rise in the previous month.
Simultaneously, the Empire State Manufacturing Index for November will be released, with expectations set at 0.0, following a drop of 11.9 in October.
The Labor Department is scheduled to issue the Import and Export Prices for October at 8:30 a.m. ET, with a consensus pointing to a 0.1% decline, improving from a 0.4% decrease recorded in the prior month.
The Industrial Production report for October is anticipated at 9:15 a.m. ET. The prior month's data showed a 0.3% decline in production and a 0.4% drop in manufacturing output.
At 10:00 a.m. ET, the Business Inventories report for September is due. Last month, inventories saw a 0.3% increase.
The Baker Hughes Rig Count, set for release at 1:00 p.m. ET, previously indicated a North American rig count of 792, with the U.S. at 585.
Boston Fed President Susan Collins is scheduled to deliver opening remarks at the Federal Reserve Bank of Boston's 68th economic conference titled "The Future of Finance: Implications of Innovation" at 9:00 a.m. ET. She will also participate in a Bloomberg TV interview at 11:55 a.m. ET.
The Federal Reserve Bank of New York will release the opening remarks of President John Williams, made during a closed event titled "New York Fed Alumni: Celebrating 100 Years of Making Our Mission Possible".
Asian stock performances on Friday were mixed. The Shanghai Composite in China dropped 1.45% to 3,330.73, while Hong Kong's Hang Seng concluded slightly lower at 19,426.34.
Japanese markets managed modest gains, with the Nikkei advancing 0.28% to 38,642.91 and the broader Topix index increasing by 0.39% to settle at 2,711.64.
Australian stocks saw notable upward movements, with the S&P/ASX 200 surging 0.74% to 8,285.20, and the All Ordinaries index climbing 0.70% to close at 8,539.
In Europe, trading remains predominantly lower. France’s CAC 40 is down 5.70 points, or 0.08%, Germany’s DAX is down 17.37 points, or 0.09%, while the UK's FTSE 100 is up 12.09 points, or 0.15%. The Swiss Market Index is down 110.62 points, or 0.94%.
The Euro Stoxx 50, representing blue-chip leaders from the Eurozone's supersectors, is down by 0.31%.
