On a day of thin economic announcements, the ongoing conflict in the Middle East is expected to drive investor sentiment on Friday. Early cues from the U.S. Futures suggest that Wall Street might open lower.
Strikes targeting energy infrastructure in Iran, Qatar, Kuwait and Saudi Arabia are continuing. However, Israel said it will no longer target energy infrastructure.
In the Asian trading session, oil prices were subdued on easing supply concerns. Gold is gaining up nearly 1 percent below $4,700 an ounce. The dollar slipped and faced a weekly loss.
The strait of Hormuz might be opened for commercial ships and oil tankers with the support of seven U.S. allies. The U.S. is seriously considering lifting sanctions on some Iranian oil to increase supply and bring down prices.
Asian shares finished mostly lower. European shares are trading broadly higher.
As of 7.35 am ET, the Dow futures were losing 147.00 points, the S&P 500 futures were down 28.50 points and the Nasdaq 100 futures were sliding 141.00 points.
The U.S. major averages were lower on Thursday. The Nasdaq ended the day down 61.73 points or 0.3 percent at 22,090.69 but had slumped by as much as 1.4 percent to a six-month intraday low. The S&P 500 also fell 18.21 points or 0.3 percent to 6,606.49, while the Dow slid 203.72 points or 0.4 percent to 46,021.43.
On the economic front, the Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America rig count was 750, while the U.S. rig count was 553.
Fed Chairman Jerome Powell will give a remark before the American Society for Public Information Annual Conference Paul A. Volcker Public Integrity Award Ceremony on Saturday at 10.30 am ET.
Asian stocks ended mostly lower on Friday. China’s Shanghai Composite index tumbled 1.24 percent to 3,957.05. Hong Kong’s Hang Seng index fell 0.88 percent to 25,277.32.
Japanese markets were closed for a holiday on Friday.
Australian markets fell notably. The benchmark S&P/ASX 200 fell 0.82 percent to 8,428.40. The broader All Ordinaries index settled 0.72 percent lower at 8,628.30.
European shares are trading broadly up. Among the major indexes in the region, the CAC 40 Index of France is gainng 24.08 points or 0.31 percent. The German DAX is up 23.28 points or 0.10 percent, the U.K. FTSE 100 Index is adding 9.95 points or 0.10 percent.
The Swiss Market Index is progressing 52.38 points or 0.42 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is climbing 14.72 points or 0.26 percent.
Business News
Wall Street To Open Lower As Oil, Geopolitical Risk Drive Sentiment
2026-03-20 12:01:33
