Investors are concerned about weaker global economic growth, and the pace of future interest rate hikes by the US Federal Reserve.
Events in Washington have added new fuel to those worries.
The United States appears to be headed for a government shutdown because of a political fight over money for a border wall.
Funding will expire for several key US government agencies at midnight on Friday. If the deadline is not extended, those agencies will shutter just days before Christmas.
The resignation of Defense Secretary James Mattis on Thursday has thrown the capital into further disarray.
3. Carlos Ghosn may spend Christmas in jail: Former Nissan Chairman Carlos Ghosn was rearrested Friday by Japanese authorities over additional allegations of breach of trust.
Ghosn, who has been jailed for more than a month, scored a small legal victory on Thursday when a Tokyo court rejected a request to extend his detention on allegations of under-reporting his income. That raised the possibility that the auto industry legend could be released on bail before Christmas.
The new arrest means he can be held for at least another two days. With court approval, they can extend the detention by a further 10 to 20 days.
That included a 26% increase in China, thanks to sales from Singles Day and demand for sneakers like Air Jordan.
The US Bureau of Economic Analysis will release two key pieces of data at 8:30 a.m. ET: a report on personal income in November, and a third estimate of third-quarter GDP.
Investors will be watching for any signs of weakness in the US economy. The second GDP estimate, released at the end of November, was a rate of 3.5% annualized growth. That was slower than the 4.2% rate in the second quarter, because of a deceleration in business investment.
Canada’s latest GDP figures will also be released at 8:30 a.m. ET.
Friday — Carmax (KMX) earnings; GDP third estimate
Source : CNN