As the markets prepare for Friday's trading session, US equity futures have exhibited a downward trend. The Dow Jones Industrial Average futures have dipped by 0.3%, while S&P 500 and Nasdaq futures follow closely behind with declines of 0.5%. This downturn comes as traders analyze the latest data regarding the housing market in the US, which has shown signs of slowing growth. In the energy sector, oil prices are also witnessing a downward shift.
The latest figures indicate that North Sea Brent crude, a global benchmark, has fallen nearly 2%, currently priced at $79.46 per barrel. In parallel, US West Texas Intermediate crude has recorded a decrease of 2.2%, now trading at $75.32 per barrel. The housing data released at 8:30 am ET reveals a decrease in US housing starts, dropping to an annual rate of 1.238 million in July, a decline from June's rate of 1.329 million.
This was contrary to the expectations gathered by Bloomberg, which anticipated an increase to 1.33 million. In a separate report, building permits also showed a decline, falling to 1.396 million from a prior figure of 1.454 million, signaling less construction activity than previously thought and versus estimates predicting a slight drop to 1.43 million. Consumer sentiment data, scheduled for release at 10 am ET, is projected to show a slight increase to 66.7 in August, compared to July's figure of 66.4.
This data will be closely monitored by investors as it can indicate potential shifts in consumer spending and economic confidence. International markets are reflecting varied performance. Japan's Nikkei has closed impressively 3.6% higher, showcasing strong investor confidence. Meanwhile, Hong Kong's Hang Seng Index ended the day up by 1.9%, and China's Shanghai Composite gained a modest 0.07%.
On the flip side, the UK's FTSE 100 saw a decline of 0.6%, whereas Germany's DAX 30 index managed a slight gain of 0.4%, and France's CAC 40 registered an increase of 0.06% in the early afternoon trading session in Europe. In the equities market, several stocks are making headlines. Shares of H&R Block, represented as ($HRB), are up nearly 9% in pre-bell trading after the company delivered fiscal Q4 results that surpassed analyst expectations.
Similarly, Greenland Technologies, denoted by ($GTEC), has seen impressive growth, with shares rising by 29% following the announcement of higher profits in Q2. Conversely, not all stocks have fared well. Shimmick, indicated as ($SHIM), suffered a significant drop of 28% after posting weaker-than-expected fiscal Q2 results.
Furthermore, Sonida Senior Living, identified as ($SNDA), experienced a 15% decline after the firm announced a public offering of 4.3 million common shares priced at $27 each. These market movements signal a cautious yet dynamic trading environment as investors navigate economic indicators and corporate earnings..