Wall Street Targets To Open Positive

Wholesale Inventories for July as well as Fed speeches might get special attention from investors on Friday. After the death of Queen Elizabeth II, who reigned for seven decades, the new King Charles will address the nation today.

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

As of 7.45 am ET, the Dow futures were up 223.00 points, the S&P 500 futures were adding 31.25 points and the Nasdaq 100 futures were progressing 125.75 points.
The U.S. major averages gained on Thursday. The Dow climbed 193.24 points or 0.6 percent to 31,774.52, the Nasdaq rose 70.23 points or 0.6 percent to 11,862.13 and the S&P 500 advanced 26.31 points or 0.7 percent to 4,006.18.

On the economic front, the Commerce Department’s Wholesale Inventories for July will be published at 10.00 am ET. The consensus is 0.8 percent, while it was up 1.8 percent in the prior month.

The Baker Hughes rig count for the week is scheduled at 1.00 pm ET. In the prior week, North America was up 968. The U.S. rig count was 760.

Chicago Federal Reserve Bank President Charles Evans will give welcome remarks before the Exploring Career Pathways in Economics and Related Fields Conference hosted by the Federal Reserve Bank of Chicago at 10.00 am ET.

Kansas City Federal Reserve Bank President Esther George will speak on the economic outlook before the virtual Peterson Institute event at 12.00 pm ET.

Federal Reserve Board Governor Christopher Waller to speak on the economic outlook before the Vienna Macroeconomics Workshop 2022 at 12.00 pm ET.

Asian stocks rose on Friday. Chinese shares finished notably higher. The benchmark Shanghai Composite index jumped 0.82 percent to 3,262.05 while Hong Kong’s Hang Seng index rallied 2.69 percent to 19,362.25.

Japanese shares advanced on Friday. The Nikkei average gained 0.53 percent to close at 28,214.75 while the broader Topix index ended 0.40 percent higher at 1,965.53.

Australian markets extended their climb on the day. The benchmark S&P/ASX 200 rose 0.66 percent to 6,894.20 while the broader All Ordinaries index gained 0.76 percent to settle at 7,139.

European shares are trading higher. CAC 40 of France is adding 93.04 points or 1.52 percent. DAX of Germany is gaining 181.98 points or 1.40 percent. FTSE 100 of England is progressing 111.42 points or 1.54 percent. Swiss Market Index is up 116.99 points or 1.08 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.66 percent.

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