Wall Street Braces For Red

The highly volatile geopolitical situations on the backdrop of North Korean actions are adding worries to the market. Global markets are down and the initials trading on the U.S. Futures Index points a sharp fall at Wall Street Opening. Asian Shares closed mostly in the red and European shares are broadly down.

As of 7.00 am ET, the Dow futures are declining 94 points, the S&P 500 futures are down 13.00 points and the Nasdaq 100 futures are losing 44.00 points.

U.S. stocks closed mixed on Thursday. T he Dow edged down 5.27 points or less than a tenth of a percent to 21,808.40, the Nasdaq rose 17.37 points or 0.3 percent to 6,383.02 and the S&P 500 inched up 1.19 points or 0.1 percent to 2,444.24.

On the economic front, the S&P Corelogic Case-Shiller home price index for June will be published at 9.00 am ET. The economists are looking for growth consensus of 0.3 percent, compared to 0.1 percent in the previous period.

The Conference Board’s Consumer Confidence index for August is expected at 10.00 am ET. The consensus is for 120.6, slightly down from 121.1 in the prior month.
The State Street Investor Confidence Index measures confidence by looking at actual levels of risk in investment portfolios, is revealed at 10.00 am ET. The prior period index was at 108.9.

Seven year Treasury Note auction will be held at 1.00 pm ET.

In the corporate sector, advertising giant WPP Group Plc. announced that its wholly-owned operating company, AKQA has acquired a majority stake in digital agency DIS/PLAY in Denmark.

DIS/PLAY’s revenues for the year 2016 were DKK 105 million, with gross assets of DKK 49 million. WPP said the acquisition continues its strategy in developing its services in important markets and sectors and strengthening its capabilities in digital marketing.

Movado Group, Inc. (MOV) said anticipates fiscal 2018 net income to be approximately $35.5 million to $38.8 million, or $1.50 to $1.65 per share. For the second-quarter adjusted earnings per share was $0.43…

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