Wall Street Set To Open Modestly Up

On Friday, the U.S. service sector activity might get special attention. Inflation and Geopolitical situations might be influencing investor sentiments.

Early market trends from the U.S. Futures Index suggest that Wall Street might open positive.

Asian shares finished higher, while European shares are trading mostly up.

As of 7.10 am ET, the Dow futures were up 94.00 points, the S&P 500 futures were adding 16.25 points and the Nasdaq 100 futures were progressing 54.75 points.

The U.S. major averages finished positive on Thursday. The Dow closed up 341.73 points or 1.1 percent at 33,003.57. The tech-heavy Nasdaq climbed 83.50 points or 0.7 percent to 11,462.98, while the S&P 500 advanced 29.96 points or 0.8 percent to 3,981.35.

US Services Purchasing Managers’ Index or PMI for February will be released at 9.45 am ET. The consensus is 50.5.

The Institute for Supply Management’s Services Index for February will be published at 10.00 am ET. The consensus is 54.5, while it was up 55.2 in the previous 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 up by 997, and the U.S. Rig Count was 753.

Asian stocks advanced on Friday. Chinese shares finished higher. The benchmark Shanghai Composite index settled 0.54 percent higher at 3,328.39. Hong Kong’s Hang Seng index climbed 0.68 percent to finish at 20,567.54.

Japanese shares gained higher. The Nikkei average jumped 1.56 percent to 27,927.47, marking its highest level since Dec.15 and the sharpest single-day gain since Jan.18. The broader Topix index closed 1.25 percent higher at 2,019.52.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 0.39 percent to 7,283.60. The broader All Ordinaries index gained 0.32 percent to close at 7,484.

European shares are trading mostly higher. CAC 40 of France is gaining 58.43 points or 0.80 percent. DAX of Germany is adding 166.31 points or 1.09 percent. FTSE 100 of England is progressing 11.99 points or 0.15 percent. The Swiss Market Index is down 5.52 points or 0.05 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is progressing 0.99 percent.

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