Wall Street Aims To Open In Positive Zone

(RTTNews) - Easing of sanction on Russian oil in view of the ongoing conflict in the Middle East might influence the market sentiments on Friday. U.S. Navy is planning to escort oil tankers through the Straint of Hormuz.

On the economic front, the consumer prices, durable goods orders and consumer sentiment may attract some attention.

Crude oil prices are rising, while brent crude prices rose more than 1 percent toward $102 a barrel in Asian trade. The dollar hit a three-month high, and gold was little changed below $5,100 an ounce.

Asian shares finished lower, while European shares are trading mostly up. Early signs from the U.S. Futures suggest that Wall Street might open in positive territory.

As of 7.40 am ET, the Dow futures were gaining 169.00 points, the S&P 500 futures were up 22.75 points and the Nasdaq 100 futures were progressing 83.45 points.

The U.S. major averages finished Thursday just off their lows of the session. The Dow plunged 739.42 points or 1.6 percent to 46,677.85, the Nasdaq tumbled 404.16 points or 1.8 percent to 22,311.98 and the S&P 500 slumped 103.18 points or 1.5 percent to 6,672.62.

On the economic front, the Durable Goods Orders for January will be issued at 8.30 am ET. The consensus for new orders is an increase of 0.5 percent, while it was down 1.4 percent in the prior month.

Gross Domestic Product or GDP for the fourth quarter will be released at 8.30 am ET. The consensus is for an increase of 1.4 percent, while it was up 1.4 percent in the prior quarter.

The Personal Income and Outlays for January will be published at 8.30 am ET. The consensus is for an increase of 0.5 percent, while it was up 0.3 percent in the prior month.

The Consumer Sentiment for March is scheduled at 10.00 am ET. The consensus is 56.2, while it was up 56.6 in the prior month.

The Labor Department's Job Openings and Labor Turnover Survey or JOLTS for January will be released at 10.00 am ET. The consensus is 6.750 million, while it was up 6.542 million in the prior month.

The Baker Hughes Rig Count for the week will be revealed at 1.00 pm ET. In the prior week, the North America Rig Count was 756 and the U.S. rig count was 551.

Asian stock markets finished lower. China's Shanghai Composite index fell 0.82 percent to 4,095.45. Hong Kong's Hang Seng index ended 0.98 percent lower at 25,465.60.

Japanese markets fell sharply. The Nikkei average dropped 1.16 percent to 53,819.61 while the broader Topix index settled 0.57 percent lower at 3,629.03.

Australian markets ended slightly lower. The benchmark S&P/ASX 200 slid 0.14 percent to 8,617.10 while the broader All Ordinaries index closed 0.14 percent lower at 8,839.10.