US Stock Futures Signal Flat Open Ahead Of Industrial Production Report
By Bhaskar Prasad | November 16, 2012 7:36 PM EST
The U.S. stock index futures point to a flat open Friday ahead of the Federal Reserve’s Industrial Production and Capacity Utilization report.
The futures on the Dow Jones Industrial Average were up 0.02 percent, the futures on the Standard & Poor's 500 Index were down 0.05 percent and those on the Nasdaq 100 Index were up 0.06 percent.
Investors will focus on the Industrial Production and Capacity Utilization report to be published Friday. The report measures the change in the total inflation-adjusted value of output produced by manufacturers, mines and utilities. It is expected to rise by 0.2 percent in October after 0.4 percent increase in September.
“Industrial Production may have also been affected by the Hurricane, but like the effects on retail sales, we anticipate that since the Hurricane hit at the end of the month, the brunt of the impact may not appear until next month,” Credit Agricole said in a note.
On Thursday, the U.S. stocks fell as investor sentiment was weighed down by geopolitical tensions in the Middle East and continuing fears of the looming fiscal cliff. Market confidence turned negative as violence intensified in the Middle East following air strikes by Israel against Hamas in Gaza Strip, raising concerns that there could more attacks in the coming days.
Meanwhile, according to data released Thursday by the U.S. Labor Department, the weekly jobless claims, measuring the number of individuals who filed for unemployment insurance for the first time, last week rose to 439,000 in the week ending Nov. 10, up from 355,000 in the previous week. The Dow Jones Industrial Average fell 0.23 percent, the S&P 500 Index was down 0.16 percent and the Nasdaq Composite Index declined 0.35 percent.
European markets were mixed Friday, amid delay in the disbursement of the next tranche of bailout package for Greece from the European Central Bank. Investors are waiting for the Eurogroup meeting next week in Brussels to make an agreement, which is expected to lead to the release of funds required to stabilize the ailing Greek economy.
London's FTSE 100 was down 7.76 points, Germany's DAX 30 index fell 3.15 points and France's CAC 40 gained 6.29 points.
Most of the Asian stocks rose Friday amid expectation among investors that Japan’s policymakers will soon announce more monetary easing measures to revive the country’s economy. Hong Kong’s Hang Seng Index rose 51.27 points, Japan’s Nikkei was up 194.44 points and India’s Sensex gained 54.37 points.
To contact the editor, e-mail:
Most Popular Slideshows
- Gennady Golovkin Next Fight Options: Canelo Alvarez, Miguel Cotto Or Julio Cesar Chavez Jr.
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Chilling: New ISIS Video Addresses Australia; Aussie Teen Delivers Message
- The Pirate Bay Blockade: Cost Of Blocking Websites Like TPB Is Ridiculously High
- Xiaomi Mi4 And MiPad Prices Likely Slashed, Thanks To Rivals Oppo, OnePlus And Meizu
- Virginia Woman Who Posted Naked Image Of Ex-BF’s New Partner 1st Person Charged Under Revenge Porn Law
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery
- iOS 8 Jailbreak Release Date is Doomed as Team Evad3rs Opts Out, Pangu Hits Snag – Report
- Google Nexus 6 vs. iPhone 5S: 4 Important Things to Consider Before Switching to Android Lollipop