Asian and European stocks were hard hit on Friday, after Wall Street lost $2.5 trillion in market value over AI fears. Meanwhile, President Trump suggested more guardrails to be placed on leading AI companies.
Asian shares finished heavily down on Friday, while European shares are trading in the red.
Oil prices fell on hopes of deescalation of the Middle East conflict. Brent crude futures dropped 1.3 percent to around $97 a barrel.
Gold prices traded lower. Spot gold dipped 0.3 percent to $4,075 an ounce. U.S. gold futures were down 0.8 percent at $4,083 an ounce.
Early signs from the U.S. Futures Index suggest that Wall Street might open broadly up.
As of 7.55 am ET, the Dow futures were up 238.00 points, the S&P 500 futures were adding 30.25 points and the Nasdaq 100 futures were progressing 89.00 points.
The U.S. major averages ended Thursday just off their lows of the session. The Nasdaq nosedive 1,421.52 points or 5.5 percent to 24,315.00, the S&P 500 plummeted 334.89 points or 4.4 percent to 7,353.73 and the Dow plunged 1,833.06 or 3.4 percent to 51,523.06.
On the economic front, the Employment Situation for October will be released at 8.30 am ET. The consensus for non-farm payrolls is 62,000, while it was up 29,000 in the prior month. The Unemployment rate is expected to be 4.2 percent, while it was up 4.2 percent in the prior month.
The private payrolls consensus is 64,000, while it was up 46,000 in September. Average Hourly Earnings is expected to grow 0.3 percent, while it was up 0.1 percent in the prior month.
The Institute for Social Research of the University of Michigan’s Consumer Sentiment report for November will be revealed at 10.00 am ET. The consensus is 47.5, while it was up 46.3 in the prior month.
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 829, while the U.S. rig count was 603.
The Fed’s Consumer Credit for September will be issued at 3.00 pm ET. The consensus is $11.5 billion, while it was up $8.3 billion in the prior month.
John Williams will speak in a moderated discussion before the European Central Bank Conference on Money Markets 2026 at 9.10 am ET.
Michelle Bowman speaks participates in ‘Supervision and Regulation’ discussion before the University of Mississippi Banking and Finance Symposium at 12.15 pm ET.
Asian stocks retreated on Friday. China’s Shanghai Composite index closed 1.10 percent lower at 3,649.18. Hong Kong’s Hang Seng index fell 1.27 percent to 24,481.86.
Japanese markets plummeted. The Nikkei average fell 5.96 percent to 57,434.77. The broader Topix index settled 5.90 percent lower at 3,707.99.
Australian markets closed lower. The benchmark S&P/ASX 200 dropped 0.49 percent to 9,020.80 while the broader All Ordinaries index ended down 0.66 percent at 9,144.70.
Business News
Futures Suggest Wall Street To Open Broadly Higher
2026-11-06 12:55:46
