Friday 12 April 2013

Futures signal lower Wall St open


Futures signal lower Wall St open

Stock futures pointed to a weaker open on Wall Street on Friday after four straight days of gains, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 falling 0.1 to 0.2 percent.
The Labor Department releases the March Producer Price Index at 7.30 a.m. ET. Economists forecast a 0.2 percent drop, compared with a 0.7 percent rise in February.
U.S. March retail sales figures are due at 7.30 a.m. ET. Economists expect an unchanged reading, compared with a 1.1 percent increase in February.
On the earnings front, focus will be on JPMorgan (JPM.N), which is expected to post higher quarterly results.
Wells Fargo (WFC.N), the No. 4 U.S. bank by assets, is expected to post increased quarterly profit, and investors will be closely watching for an update on the mortgage business as a harbinger of what to expect in the rest of the industry.
Thomson Reuters/University of Michigan Surveys of Consumers release preliminary April consumer sentiment index at 8.55 a.m. ET. Economists expect a preliminary April reading of 78.5, compared with 78.6 in the final March report.
European shares .FTEU3 fell 0.6 percent on Friday to end a four-day rally, with some traders citing concerns that Cyprus may need more bailout money as a main factor weighing on markets.
U.S. stocks rose for a fourth straight day on Thursday, sending the Dow and the S&P 500 to new closing highs as positive data on the labor market and an encouraging retail outlook eased recent concerns about economic growth.
The Dow Jones industrial average .DJI gained 62.90 points, or 0.42 percent, to close at 14,865.14. The Standard & Poor's 500 Index .SPX rose 5.64 points, or 0.36 percent, to 1,593.37. The Nasdaq Composite Index .IXIC edged up 2.90 points, or 0.09 percent, to close at 3,300.16.

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