(MENAFN- ProactiveInvestors)Wall Street shares are set for a lower open according to futures trading. after stocks were buoyed yesterday as the oil price rose. It came after data showing US crude inventories had not risen last week as much as some had expected. The benchmark Dow Jones closed Wednesday 53 points higher at 16484 while the S&P500 added eight to 1929. The tech heavy Nasdaq composite index gained 39 to finish at 4542. Today futures in S&P500 are down one point and the Nasdaq are down three while Dow futures are six points lower. It comes after a further tumble in China where the benchmark Shanghai Composite index plummeted over 6.4% on Thursday extinguishing the recent rally. The Chinese gov't has ousted the head of its stock market regulator and investors have been pulling billions of dollars out of the country. The oil price is also down with US crude down 0.56% to just under US$32 a barrel at the time of writing. In London FTSE100 is ahead by 118 points to 5984 at the time of writing but still below the key 6000 level. In corporate news shares in Japanese electric firm Sharp (TYO: SHCAY) dropped by 14% after the company said it had agreed to be bought by Taiwan's Foxconn. Both groups supply behemoth Apple (NASDAQ:AAPL) whose shares were around 2% lower in pre-market
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