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OffbeatWall Street set for lower open amid oil volatility; inflation data in focus

14:30  14 november  2018
14:30  14 november  2018 Source:   cnbc.com

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Options: Highest Implied Volatility . (Reuters) - U.S. stocks were set to open lower on Friday as investors worried about whether a potential deal by major oil producers to freeze output would be (To watch Henderson’s track record, click here)While Henderson is bullish, Wall Street is more cautious.

Investing.com -- U.S. stock markets opened lower on Thursday as concern about a reviving Covid-19 pandemic in Europe was compounded by another set of Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.


    Wall Street set for lower open amid oil volatility; inflation data in focus© Provided by CNBC LLC Stocks Continue Correction, Dragged Down By Disappointing Earnings From Alphabet And Amazon U.S. stock futures pointed to a negative open on Wednesday amid volatility in the oil market and as investors looked ahead to upcoming inflation data.

    As of 4:40 a.m. ET, Dow Jones Industrial Average futures were 78 points lower, indicating a lower open of -23 points, while S&P 500 and Nasdaq futures were also in the red.

    On Tuesday, stock markets stateside navigated through a wildly volatile session, with the Dow falling just a touch above 100 points by the close, despite a rise earlier in the session in excess of 100 points.

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    Futures in Focus . Working from home hasn’t slowed down Wall Street ’s trading desks. Bank of America saw commercial loan utilization rates at “historically low levels,” but is optimistic that loan demand could pick up in the next few quarters as the economy recovers, CFO Paul Donofrio said.

    The key is low oil prices, which are depressing earnings. In the second quarter, the company recorded a net loss per share of 92 cents. “This data could set up a label expansion for setmelanotide following approval and may be particularly advantageous for pediatric administration, who are often

    Reports of renewed trade talks between the U.S. and China failed to lift sentiment on Wednesday, with traders keeping a wary eye on volatility in the oil market.

    Oil rebounded from losses earlier in the session following Tuesday's 7 percent plunge. Prices had initially fallen on the back of investor angst over fears of an abundance of supply and not enough demand. President Donald Trump earlier this week sent another warning to producer cartel OPEC (Organization of Petroleum Exporting Countries), saying he hoped the group would not cut output in a move to buoy prices.

    London Brent crude futures were 1.45 percent higher, trading at $66.42 a barrel, while U.S. West Texas Intermediate (WTI) climbed 0.9 percent to $56.20.

    On the earnings front, Macy's, Blue Apron and Pershing Square Holdings will report results before the bell, while Cisco posts financials after the bell.

    Meanwhile, investors are looking ahead to inflation data on Wednesday. Consumer Price Index (CPI) and core CPI inflation figures are due to be released at 8:30 a.m. ET.

    In Oil's Huge Drop, All Signs Say Made in the U.S.A..
    The downward spiral in oil prices is accelerating as a surge in crude production from a turbocharged U.S. petroleum industry runs into weaker global economic growth. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); Crude prices slid 7.7% Friday, their largest one-day drop since July 2015, and are now down by nearly a third since the start of October. The U.S. benchmark, West Texas Intermediate futures, closed at $50.42 a barrel—its lowest level in over a year.

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