On Friday, traders are likely to focus on the upcoming November Employment Situation report, seeking insights related to inflation expectations. Statements from Federal Reserve officials may also garner interest.
During the Asian trading session, the U.S. dollar depreciated, causing a rise in gold prices.
Asian stock markets closed with mixed results, while European markets predominantly exhibit upward trends. However, early indicators from the U.S. Futures Index suggest that Wall Street may open with losses across the board.
As of 7:45 a.m. Eastern Time, the Dow futures were down by 33 points, S&P 500 futures had fallen by 4.5 points, and Nasdaq 100 futures had recorded a modest gain of 3.5 points.
Thursday saw all major U.S. stock averages decline. The Dow dropped by 248.33 points, equivalent to a 0.6% decrease, closing at 44,765.71. Meanwhile, the Nasdaq fell by 34.86 points, or 0.2%, to settle at 19,700.26. The S&P 500 slightly dipped by 11.38 points, marking a 0.2% decline, finishing at 6,075.11.
On the economic calendar, the November Employment Situation report is due at 8:30 a.m. ET, with a consensus expectation of 211,000, reflecting an increase from the previous rise of 12,000. The Unemployment Rate is projected to increase to 4.2%, following October's rate of 4.1%. Expectations for private payrolls stand at 200,000, contrasting with the previous month's decline of 28,000. Manufacturing payrolls are anticipated to be 25,000, after a reduction of 46,000 in the prior month. Average hourly earnings are forecasted to grow by 0.3%, slightly lower than the previous month's 0.4% increase.
The University of Michigan's Consumer Sentiment Index for December is expected at 10:00 a.m. ET, with a consensus of 73.0, up from November's 71.8.
Baker Hughes' Rig Count report for the week is scheduled for release at 1:00 p.m. ET. The prior week recorded a North American rig count of 787 and a U.S. rig count of 582.
October's Consumer Credit data will be published at 3:00 p.m. ET, with anticipations for a $10 billion increase, compared to the previous month's $6.0 billion rise.
Federal Reserve Governor Michelle Bowman is set to participate virtually in discussions at the Missouri Bankers Association Executive Management Conference at 9:15 a.m. ET.
Cleveland Fed President Beth Hammack will address the City Club of Cleveland regarding the economic outlook at 12:00 p.m. ET.
San Francisco Fed President Mary Daly will engage in a conversation on 'Emerging Technology and the Economy' hosted by the Hoover Institution at 1:00 p.m. ET.
Asian markets closed with divergent outcomes; China's Shanghai Composite Index rose by 1.05% to 3,404.08, while Hong Kong's Hang Seng Index increased by 1.56% to 19,865.85.
Japanese markets experienced declines, with the Nikkei average falling by 0.77% to 39,091.17, and the broader Topix index decreasing by 0.55% to 2,727.22.
Australian markets also saw declines, as the benchmark S&P/ASX 200 decreased by 0.64% to 8,420.90, and the All Ordinaries index closed 0.63% lower at 8,689.30.
European markets are primarily trading upwards. France's CAC 40 is up 101.60 points, or 1.39%. Germany's DAX has increased by 51.99 points, or 0.26%. However, England's FTSE 100 has declined by 8.67 points or 0.10%. The Swiss Market Index is marginally down by 10.84 points, or 0.09%.
The Euro Stoxx 50, which represents blue-chip sector leaders in the Eurozone, has risen by 0.60%.
