Futures Point To Broadly Positive Open

Asian shares finished mixed on Thursday, while European shares are trading lower.
Early cues from the U.S. Futures Index suggest that Wall Street might open broadly positive.

Trading on Thursday might be impacted by reaction to the latest economic data, including reports on weekly jobless claims and producer price inflation.

As of 7.30 am ET, the Dow futures were sliding 92.00 points, the S&P 500 futures were adding 1.50 points and the Nasdaq 100 futures were gaining 67.25 points.

The U.S. major averages ended Wednesday just off their lows of the session. The Dow tumbled 681.50 points or 2 percent to 33,587.66, the Nasdaq plummeted 357.75 points or 2.7 percent to 13,031.68 and the S&P 500 plunged 89.06 points or 2.1 percent to 4,063.04.

On the economic front, the Labor Department’s Jobless Claims for the week will be published at 8.30 am ET. The consensus is for 475K, while it was 498K in the prior week.

The Labor Department’s Producer Price Index or PPI-Final Demand for April will be released at 8.30 am ET. The consensus is for 0.3 percent, while it was up 1.0 percent.

The Energy Information Administration or EIA for the week will be revealed at 10.30 am ET. In the prior week, the Gas stock was 60 bcf.

30-year Treasury Bond auction will be held at 1.00 pm ET.

The Fed Balance Sheet will be released at 4.30 pm ET. In the prior week, the level was at $7.810 trillion.

Richmond Federal Reserve Bank President Thomas Barkin will speak on the economy before virtual Central Maryland Chamber event at 10.00 am ET.

Federal Reserve Board Governor Christopher Waller to speak on the U.S. economic outlook and monetary policy before virtual Global Interdependence Center 39th Annual Monetary and Trade Conference 1.00 pm ET.

St. Louis Federal Reserve Bank President James Bullard will speak on the U.S. economy and monetary policy before Greater Memphis Chamber Chairman’s Circle Virtual Event at 4.00 pm ET.

Asian stocks finished mixed on Thursday. Chinese shares fell. The benchmark Shanghai Composite index ended down 33.22 points, or 0.96 percent, at 3,429.54 while Hong Kong’s Hang Seng index fell 512.37 points, or 1.81 percent, to 27,718.67.

Japanese shares hit a four-month low. The Nikkei average fell 699.50 points, or 2.49 percent, to 27,448.01, hitting its lowest level since early January. The broader Topix index closed 1.54 percent lower at 1,849.04, hitting a three-month low.

Australian markets fell notably, dragged down by technology stocks. The benchmark S&P/ASX 200 fell 62.20 points, or 0.88 percent, to 6,982.70 while the broader All Ordinaries index ended down 72.10 points, or 0.99 percent, at 7,209.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is losing 63.22 points or 1.00 percent. The German DAX is down 186.01 points or 1.23 percent, the U.K. FTSE 100 Index is declining 142.89 points or 2.04 percent.

The Swiss Market Index is sliding 16.50 points or 0.15 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.22 percent.

Business News