Wall Street Poised To Open In Negative Territory

(RTTNews) - The Existing Home Sales report, PMI, as well as earnings reports, might be influencing market movements on Friday.

President Donald Trump's speeches addressing international communities are getting much attention. Trump had said that he could ask Saudi Arabia as well as OPEC to bring down oil prices.

In the Asian trading session, gold reached near record highs, while oil struggled for direction.

Asian shares finished mostly up, while European shares are trading broadly up. As of 7.40 am ET, the Dow futures were declining 116.00 points, the S&P 500 futures were down 7.25 points and the Nasdaq 100 futures were sliding 12.50 points.

The U.S. major averages reached new highs on Thursday. The Dow jumped 408.34 points or 0.9 percent to 44,565.07, the S&P 500 climbed 32.34 points or 0.5 percent to 6,118.71 and the Nasdaq rose 44.34 points or 0.2 percent at 20,051.68.

On the economic front, the PMI Composite Flash index for January will be issued at 9.45 am ET. The consensus for the Manufacturing index is 48.9, while it was at 49.4 in December. The consensus for Services Index is 56.7, while it was 56.8 in the previous month. In the prior month, the Composite Index was at 55.4.

The Existing Home Sales for December will be revealed at 10.00 am ET. The consensus is for an increase of 4.160 million, while it was up 4.150 million in November.

The Consumer Sentiment for January is scheduled at 10.00 am ET. The consensus is for 73.2, while it was up 73.2 in the prior month.

The Baker Hughes Rig Count for the week will be announced at 1.00 pm ET. In the prior week, the North American rig count was 809 and the U.S. rig count was 580.

Asian stocks rose broadly on Friday. China's Shanghai Composite index climbed 0.70 percent to 3,252.63. Hong Kong's Hang Seng was up 1.86 percent at 20,066.19 at the close.

Japanese markets ended on a flat note. The Nikkei average and the broader Topix index both finished marginally lower at 39,931.98 and 2,751.04.

Australian markets finished higher. The benchmark S&P/ASX 200 rose by 0.36 percent to 8,408.90. The broader All Ordinaries index settled 0.36 percent higher at 8,660.40.