Wall Street Points To Lower Opening

(RTTNews) - Early indications suggest that Wall Street stocks may open Friday's session on a negative note. In the post election mood, the market is waiting to know more about the new policies of President elect Donald Trump. Trading activity may be somewhat subdued due to the Veterans Day holiday. Asian shares closed mixed, while European shares are in the red.

As of 6:30 am ET, the Dow futures were slipping 73 points, the S&P 500 futures shed 13.50 points and the Nasdaq 100 futures slipped 52.50 points.

U.S. market witnessed a mixed performance on Thursday. Dow advanced to close a record high, while the tech-heavy Nasdaq ended the day firmly in negative territory. The Dow jumped 218.19 points or 1.2 percent to 18,807.88 and the S&P 500 rose 4.22 points or 0.2 percent to 2,167.48. But the Nasdaq slid 42.28 points or 0.8 percent to 5,208.80.

On the economic front, The University of Michigan's Consumer Survey Center is expected to release Consumer Sentiment for November at 10.00 am ET. Economists call for a consensus of 87.1, slightly down from 87.2 last month.

The Baker Hughes North American rig count that tracks weekly changes in the number of active operating oil & gas rigs will be released at 1.00 pm ET. In the previous week the count was 723.

Federal Reserve Vice Chairman Stanley Fischer will give a speech on U.S. monetary policy and the global economy at the Annual Conference of the Central Bank of Chile, in Santiago, followed by Q&A at 11.00 am ET.

In the corporate segment, Waste Management, Inc. (WM) announced the appointment of James Fish, Jr. as president and chief executive officer. Fish succeeds David Steiner as the chief executive.

Separately, the company announced a quarterly cash dividend of $0.41 payable on December 16, 2016 to stockholders of record on December 2.

Bristol-Myers Squibb Co. (BMY) said the U.S. Food and Drug Administration has approved Opdivo or nivolumab injection for intravenous use, for the treatment of patients with recurrent or metastatic squamous cell carcinoma of the head and neck with disease progression on or after platinum-based therapy. Phase 3 trial of Opdivo has recorded significantly extended overall survival. Aoxin Tianli Group Inc. (ABAC) slipped to net loss attributable to shareholders of $2.707 million or $0.35 per share from profit of 875 thousands last year.

Revenue for the quarter declined 14.5 percent to $7.84 million from $9.18 million last year.

NVIDIA (NVDA) announced third quarter adjusted earnings of $0.94 per share. Revenue for the quarter increased 54 percent to $2.00 billion from $1.30 billion in the prior year.

For the fourth quarter, the company expects revenue to be $2.10 billion, plus or minus two percent.

The company intends to return $1.0 billion to shareholders in fiscal 2017. For fiscal 2018, NVIDIA intends give back $1.25 billion to shareholders through ongoing quarterly cash dividends and share repurchases. The company's board has authorized an additional $2.00 billion under the company's stock repurchase program for a total of $2.96 billion available through the end of December 2020.

Asian stock markets closed mixed, amid worries about U.S. president-elect Donald Trump's plans to cut taxes and spend on infrastructure.

China's Shanghai Composite index gained 24.76 points or 0.78 percent to end at 3,196.04. Hong Kong's Hang Seng index declined 0.45 points or 1.49 percent to close at 22,498.66.

Japanese benchmark Nikkei 225 Index closed up 30.37 points or 0.18 percent to 17,374.79.

Australia's ASX All ordinaries added 37.70 points or 0.70 percent to close at 5446.60.

European shares are trading mostly down. Among the major indexes in the region, the CAC 40 Index of France is down 41.94 points or 0.93 percent, the German DAX is losing 11.47 points or 0.9 percent, the U.K. FTSE 100 Index is slipping 80.87 points or 1.20 percent and the Swiss Market Index is declining 44.68 points or 0.56 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.79 percent.