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
- Taylor Swift Named People's Best Dressed Stars Of 2014 [PHOTOS]
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
- Jeremy Lin, Kobe Bryant Among The Top 5 Overpaid Players In The NBA (Part 1 - Western Conference)
- Reasons Why Michael Jordan Is Better Than LeBron James [PHOTOS And VIDEO]
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
- 2 Reasons Nexus 6 Release Date is Worth the Wait: Android L Data Encryption & Material Design
- Google Release Roundup: New Nexus 6, Nexus 8, Android 5.0 L Launch and Killer Features
- Xperia Z, Xperia ZL, Xperia ZR Android 4.4.4 KitKat Update Guide
- Samsung SM-A500 (aka Wallet-Friendly Galaxy Alpha) Clears TENAA Revealing Images And Specs
- Canada Consumer Alert: Costco No Longer Accepting American Express Cards Starting Jan 1
- Amazon Announces Kindle Fire HD 6, Kindle Fire HD 7 Tablets; Official Release Date Is Oct 2
- Scotland Voted Against Independence, Early Results Indicate