Wall Street Might Open Moderately Positive

On a day of lean economic announcements, investors might be focusing on the developments in Washington.

The FDA recommendation for the emergency roll-out of the Moderna vaccine for COVID-19 infection in the U.S. might add positivity to market sentiments, while U.S. China tensions are troubling the Brexit deal.

Asian shares finished broadly higher, while European shares are trading lower.
Initial signs from the U.S. Futures Index suggest that Wall Street might open slightly positive.

As of 7.25 am ET, the Dow futures were adding 12.00 points, the S&P 500 futures were gaining 4.50 points and the Nasdaq 100 futures were up 11.75 points.

The U.S. majors finished higher on Thursday. The tech-heavy Nasdaq saw further upside going into the close, reaching a new high for the session. The Dow rose 148.83 points or 0.5 percent to 30,303.37, the Nasdaq advanced 106.56 points or 0.8 percent to 12,764.75 and the S&P 500 climbed 21.31 points or 0.6 percent to 3,722.48.

On the economic front, the Commerce Department’s third-quarter Current Account will be published at 8.30 am ET. The consensus is for a deficit of $185.6 billion, while the deficit was $170.5 billion in the prior quarter.

The Conference Board’s Leading Indicators for November will be issued at 10.00 am ET. The Consensus is for an increase of 0.5 percent, while it was up 0.7 percent.

Chicago Federal Reserve Bank President Charles Evans to give opening remarks before virtual Project Hometown “Indianapolis after the Covid-19 Pandemic” event at 11.00 am ET.

Federal Reserve Board Governor Lael Brainard will speak on “Climate Change and Financial Regulation” before the virtual event at 11.10 am ET.

Asian stocks ended mostly lower on Friday. Chinese shares ended lower. The benchmark Shanghai Composite index slipped 9.98 points, or 0.29 percent, to 3,394.90, while Hong Kong’s Hang Seng index ended down 179.78 points, or 0.67 percent, at 26,498.60.

Japanese shares edged lower. The Nikkei average slipped 43.28 points, or 0.16 percent, to 26,763.39, while the broader Topix index ended nearly flat at 1,793.24. Markets showed little reaction to the Bank of Japan’s interest rate announcement.

Australian markets fell sharply. The benchmark S&P/ASX 200 dropped 81.20 points, or 1.20 percent, to 6,675.50 after hitting a near-10-month high in the previous session.

The broader All Ordinaries index ended down 76 points, or 1.09 percent, at 6,924.10.
European shares are trading mostly higher. Among the major indexes in the region, the German DAX is adding 44.48 points or 0.32 percent, the U.K. FTSE 100 Index is gaining 15.27 points or 0.23 percent.

The Swiss Market Index is progressing 16.64 points or 0.16 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.29 percent.

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