Wall Street Poised To Open In Negative Territory

A slew of economic announcements and Fed speeches might get the attention of investors on Thursday.

Weekly Jobless Claims, Housing Starts, and Philadelphia-area Manufacturing Activity are the major announcements today.

Earnings reports from major corporates are also in focus today.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished down, while European shares are trading lower.

As of 7.15 am ET, the Dow futures were down 241.00 points, the S&P 500 futures were declining 29.50 points and the Nasdaq 100 futures were sliding 92.75 points.

The U.S. major averages finished lower on Wednesday. The Dow plunged 613.89 points or 01.8 percent to 33,296.96, the Nasdaq slumped 138.10 points or 1.2 percent to 10,957.01 and the S&P 500 tumbled 62.11 points or 1.6 percent to 3,928.86.

On the economic front, the Commerce and Housing & Urban Development department’s Housing starts and Permits for December will be issued at 8.30 am ET. The consensus for housing starts is up 1.362 million, while it was up 1.427 million in the prior month. The permits rate is expected to increase 1.380 million, while it was up 1.342 million in the previous month.

The Labor Department’s Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is 215K, while it was up $205K in the prior week.

The Philadelphia Fed Manufacturing Index for January will be released at 8.30 am ET. The consensus is down 10.3, while it was down 13.8 in December.

The Energy Information Administration or EIA’s Natural Gas Report for the week is scheduled at 10.30 am ET. In the prior week, the gas stock was up 11 bcf.

Two Year Treasury Floating Rate Note or FRN auction will be held at 11.00 am ET. Two-year, Five-year, and Seven-year Treasury Note auctions will be held at 11.00 am ET.

The Fed Balance Sheet for the week will be scheduled at 4.30 pm ET. In the prior week, the level was at $8.509 trillion.

Boston Federal Reserve Bank President Susan Collins will give opening remarks before the Housing, Place, and Flexible Work: The Future of the New England Economy conference at the Federal Reserve Bank of Boston at 9.00 am ET.

Federal Reserve Vice Chair Lael Brainard will speak on the economic outlook before an event hosted by the University of Chicago Booth School of Business Speech at 1.15 pm ET.

New York Federal Reserve Bank President John Williams to participate in a conversation in a hybrid event hosted by Fixed Income Analysts Society, Inc. at 6.35 pm ET.

Asian stocks ended mixed on Thursday. China’s Shanghai Composite index rose 0.49 percent to 3,240.28. Hong Kong’s Hang Seng index dipped 0.12 percent to 21,650.98.

Japanese shares dropped from one-month highs. The Nikkei average fell 1.44 percent to 26,405.23. The broader Topix index closed 1 percent lower at 1,915.62.

Australian stocks ended notably higher. The benchmark S&P/ASX 200 gained 0.57 percent to close at 7,435.30 while the broader All Ordinaries index settled 0.51 percent higher at 7,648.40.

European shares are trading lower. CAC 40 of France is down 114.64 points or 1.62 percent. DAX of Germany is declining 243.85 points or 1.60 percent. FTSE 100 of England is down 84.07 points or 1.07 percent. The Swiss Market Index is sliding 68.25 points or 0.60 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.64 percent.

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