Stock futures gain to end week, oil slides
Traders will focus on the latest consumer sentiment numbers and job openings
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U.S. equity futures are trading modestly higher ahead of the final trading day of the week.
The major futures indexes suggest a gain of 0.2% when the open bell rings.
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The economic calendar for Friday includes the University of Michigan's preliminary index of consumer sentiment for November. The Refinitiv estimate is 72.4, up from October’s final reading of 71.7 and more than two points above the 10-year low of 70.3 in August when consumer fretted over falling wages and rising inflation.
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There will also be a snapshot of the labor picture when the Labor Department puts out the latest Job Openings and Labor Turnover Survey. Its expected to say that there were 10.3 million job openings available at the end of September. That’s down from 10.439 million in August, when openings fell more than expected from a record 11.098 million in July.
Shares were mostly higher in Asia on Friday after Wall Street benchmarks managed to close mostly higher.
In Tokyo, the Nikkei 225 jumped 1.1%, Hong Kong’s Hang Seng index gained 0.3% and China's Shanghai Composite index added 0.2%.
In Europe, London's FTSE slipped 0.5%, Germany's DAX added 0.1% and France's CAC gained 0.2%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38503.69 | +263.71 | +0.69% |
| SP500 | S&P 500 | 5070.55 | +59.95 | +1.20% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15696.639958 | +245.33 | +1.59% |
The benchmark S&P 500 is on track for its first weekly loss in six weeks. On Thursday, it rose 0.1% to 4,629.27. The Dow Jones Industrial Average fell 0.4% to 35,921.23, largely due to a steep drop in entertainment company Walt Disney, which slumped 7.1% after reporting slower subscriber gains at its streaming channel and weak fiscal fourth-quarter financial results.
The Nasdaq rose 0.5%, to 15,704.28.
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OPEC on Thursday cut its world oil demand forecast for the fourth quarter by 330,000 barrels per day from last month's forecast.
In energy trading, benchmark U.S. crude oil lost $1.31 to $80.27 per barrel in electronic trading on the New York Mercantile Exchange. It gained 25 cents to $81.59 per barrel on Thursday.
Brent crude, the basis for international pricing, gave up $1.17 to $81.70 per barrel.
The Associated Press contributed to this report.