Investor sentiment is expected to remain influenced by concerns over a potential government shutdown as we look forward to market activities on Friday. Attention is likely to be drawn towards the Personal Income and Spending figures for November.
Pre-market indicators from the U.S. Futures Index suggest a lower opening for Wall Street. As of 7:55 am ET, Dow futures showed a decrease of 213.00 points, S&P 500 futures were down by 50.00 points, and Nasdaq 100 futures dropped by 290.50 points.
Yesterday, the major U.S. stock averages most notably finished the day in negative territory. The Dow, however, managed to break its ten-day losing trend with a modest climb of 15.37 points, settling at 42,342.24. Conversely, the Nasdaq decreased by 19.92 points, closing at 19,372.77, while the S&P 500 fell by 5.08 points, ending at 5,867.08.
On the economic calendar, expect the release of November's Personal Income and Outlays data at 8:30 am ET, with projections indicating a 0.4 percent rise, following a 0.6 percent increase in the previous month. Additionally, forecasts for Personal Consumption Expenditures predict a 0.5 percent uptick, after a 0.4 percent rise in November.
Consumer Sentiment figures for December are scheduled for release at 10:00 am ET, with the consensus pointing towards a reading of 74.0, unchanged from the previous month. The Baker Hughes Rig Count, detailing the week's activity, is set for publication at 1:00 pm ET. Last week, the North American rig count stood at 780, while the U.S. alone accounted for 589 rigs.
Asian markets presented mixed results on Friday. China's Shanghai Composite Index experienced fluctuations before concluding slightly lower at 3,368.07, while Hong Kong's Hang Seng Index declined by 0.16 percent to end at 19,720.70.
In Japan, markets closed with modest losses, with the Nikkei average dropping 0.29 percent to 38,701.90, and the broader Topix index ended 0.44 percent lower at 2,701.99.
Meanwhile, Australian markets saw significant declines. The S&P/ASX 200 benchmark index fell 1.24 percent to close at 8,067, while the broader All Ordinaries index decreased by 1.17 percent, finishing at 8,316.70.
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