Wall Street Might Gain At Open As U.S. Agrees To Supply LNG To EU

The U.S. and the European Union signed an agreement for the supply of liquified natural gas to reduce reliance on Russian supply. Crude oil futures price trading lower on Friday morning in global markets expecting the release of oil reserves from the U.S. and other major allies. Currently, Russia is providing around 40 percent of gas required for the European Union.

According to media reports, Ukraine is gaining ground in Kyiv.

Consumer Sentiment, as well as Pending Home Sales, might get special attention Friday. The Fed speeches also might have an influence on investor sentiments.

As of 7.50 am ET, the Dow futures were gaining 99.00 points, the S&P 500 futures were adding 16.75 points and the Nasdaq 100 futures were up 70.00 points.

Stocks moved sharply higher on Thursday and the major U.S. averages all reached new highs going into the close of trading. The Nasdaq surged 269.24 points or 1.9 percent to 14,191.84, while Dow soared 349.33 points or 1 percent to 34,707.94. The S&P 500 shot up 63.92 points or 1.4 percent to 4,520.16.

On the economic front, the University of Michigan’s Consumer Sentiment for March will be published at 10.00 am ET. The consensus is for 59.7, while it was up 59.7 in the prior month.

National Association of Realtors’ Pending Home Sales Index for February will be issued at 10.00 am ET. The consensus is for 0.9 percent, while it was down 5.7 percent in January.

The Baker Hughes Rig Count for the week will be released at 1.00 pm ET. In the prior week, the North America rig count was 839, the U.S. Rig Count was 663.

New York Federal Reserve Bank President John Williams will participate in the virtual Challenges for Monetary Policy and Financial Stability panel before the Central Reserve Bank of Peru Centenary Conference at 10.00 am ET.

San Francisco Federal Reserve Bank President Mary Daly to make introductory remarks to the Macroeconomics and Monetary Policy Conference at 11.00 am ET.

Richmond Federal Reserve Bank President Thomas Barkin to give an in-person speech before the Citadel Directors Institute 2022 at 11.30 am ET.

Federal Reserve Board Governor Christopher Waller to speak at Virtual Seminar Series on Central Banking and Digital Currencies at 12.00 pm ET.

Asian stocks ended mixed on Friday. Chinese shares were down at closing. The benchmark Shanghai Composite index was down 1.17 percent to 3,212.24 while Hong Kong’s Hang Seng index fell 2.47 percent to close at 21,404.88.

Japan’s Nikkei index ended 0.14 percent higher at 28,149.84.

Australian markets ended on a positive note.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is falling 53.52 points or 0.80 percent. The German DAX is gaining 130.32 points or 0.91 percent, the U.K. FTSE 100 Index is progressing 26.65 points or 0.36 percent.

The Swiss Market Index is gaining 24.15 points or 0.20 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.88 percent.

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