Wall Street Might Open Broadly Up Ahead Of Jobless Claims
Jobless Claims, Existing Home Sales, and Leading Economic Indicators are the major economic announcements on Thursday. Earnings reports also will get attention today.
Early signs from the U.S. Futures Index suggest that Wall Street might open broadly higher.
Asian shares finished down, while European shares are trading mostly up.
As of 7.40 am ET, the Dow futures were up 95.00 points, the S&P 500 futures were adding 3.50 points and the Nasdaq 100 futures were declining 22.25 points.
The U.S. major averages climbed well off their worst levels late in the session on Wednesday but closed in the red. The Dow dipped 99.99 points or 0.3 percent to 30,423.81, the Nasdaq slid 91.89 points or 0.9 percent to 10,680.51 and the S&P 500 fell 24.82 points or 0.7 percent to 3,695.16.
On the economic front, the Labor Department’s Jobless Claims for the week will be released at 8.30 am ET. The consensus is 235K, while it was up 228K in the prior week.
Federal Reserve Bank of Philadelphia’s Manufacturing Index for October will be released at 8.30 am ET. The consensus is negative 5.0, while it was down 9.9 in September.
National Association of Realtors Existing Home Sales for September will be published at 10.00 am ET. The consensus is 4.695 million, while it was up 4.8 million in the prior month.
The Conference Board’s Leading Indicators for September is scheduled at 10.00 am ET. The consensus is for a decline of 0.3 percent, while it was down 0.3 percent in the previous month.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be revealed at 10.30 am ET. In the prior week, the gas stock was 125 bcf.
Five-year Treasury Inflation-Protected Securities or TIPS is expected at 1.00 pm ET.
Fed Balance Sheet for the week will be published at 4.30 pm ET. In the prior week, the level was at $8.759 trillion.
Asian stocks finished mostly lower on Thursday. China’s Shanghai Composite Index dropped 9 points or 0.31 percent to finish at 3,035.05. The Shenzhen Component Index also lost 0.56 percent to close at 10,965.33.
The Hang Seng Index of the Hong Kong Stock Exchange shed 231 points or 1.40 percent from the previous close to finish trading at 16,280.22.
The Japanese benchmark Nikkei 225 erased 250 points or 0.92 percent to end trading at 27,006.96.
Australia’s S&P/ASX200 closed trading at 6,730.70 after losing 69 points or 1.02 percent.
European shares are trading mostly higher. CAC 40 of France is gaining 22.90 points or 0.37 percent. DAX of Germany is declining 48.54 points or 0.38 percent. FTSE 100 of England is progressing 1.10 points or 0.02 percent. Swiss Market Index is declining 17.38 points or 0.17 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.14 percent.
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