BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The Personal Income and Outlays for February and the Michigan University's Consumer Sentiment will be announced on Friday; however, the investor focus will be on the coronavirus epidemic that grips the globe.
The U.S. now surpassed Italy, China in coronavirus infections. More than 82 thousand are sickened in the U.S., while the global infection crossed 500,000 cases. Asian shares finished lower, while European shares are trading in the red.
Initial signs from the U.S. Futures Index suggest that Wall Street might open lower.
As of 8.00 am ET, the Dow futures were down727.00 points, the S&P 500 futures were declining 81.00 points and the Nasdaq 100 futures were sliding 214.50 points.
The U.S. major averages saw further upside going into the close, ending the day just off their highs of the session. The Dow spiked 1,351.62 points or 6.4 percent to 22,552.17, the Nasdaq soared 413.24 points or 5.6 percent to 7,797.54 and the S&P 500 skyrocketed 154.51 points or 6.2 percent to 2,630.07.
On the economic front, Personal Income and Outlays for February will be issued at 8.30 am ET. The consensus is for a growth of 0.4 percent, while it was up 0.6 percent in the prior year.
The Michigan University's Consumer Sentiment report for March will be published at 10.00 am ET. The consensus is for 92.00, slightly down from 95.9 in the prior month.
Asian stocks ended on a mixed note on Friday. China's Shanghai Composite index pared early gains to end 0.26 percent higher at 2,772.20 after data showed profits at China's industrial firms slumped in the first two months of the year to their lowest in at least a decade. Hong Kong's Hang Seng index edged up 0.56 percent to 23,484.28. China's industrial profits declined sharply by 38.3 percent during January to February period from the same period last year.
Japanese shares gained ground. The Nikkei average rallied 724.83 points, or 3.88 percent, to 19,389.43 after falling as much as 4.5 percent in the previous session. For the week, the index surged 17.1 percent, logging its biggest weekly gain ever. The broader Topix index closed 4.30 percent higher at 1,459.49 on the back of massive buying by passive investors.
Australian markets reversed course to end sharply lower. The benchmark S&P/ASX200 plunged 270.90 points, or 5.30 percent, to 4,842.40, while the broader All Ordinaries index ended down 261 points, or 5.08 percent, at 4,874.20.
European shares are trading down. Among the major indexes in the region, the CAC 40 Index of France is falling 172.22 points or 3.79 percent. The German DAX is losing 288.71 points or 2.88 percent, the U.K. FTSE 100 Index is declining 258.41 points or 4.45 percent.
The Swiss Market Index is losing 239.56 points or 2.59 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 3.67 percent.
Copyright RTT News/dpa-AFX
© 2020 AFX News
