The Labor Department’s Jobless Claims and Producer Price Inflation will be the highlight on Thursday.
Asian shares finished positive, while European shares are trading up.
Initial trends on the U.S. Futures Index suggest that Wall Street might open higher.
In the corporate sector, PepsiCo, Inc. (PEP) Thursday announced an increase in second-quarter profit, that beat estimates. Second quarter earnings were $2.75 billion, or $1.99 per share compared with $1.43 billion, or $1.03 per share, a year ago.
Quarterly revenues were 10.3 percent higher at $20.23 billion.
As of 7.45 am ET, the Dow futures were up 75.00 points, the S&P 500 futures were adding 15.50 points and the Nasdaq 100 futures were progressing 104.00 points.
On Wednesday, the tech-heavy Nasdaq jumped 158.26 points or 1.2 percent to 13,918.96. The S&P 500 finished up 32.90 points or 0.7 percent at 4,472.16. The Dow closed up 86.01 points or 0.3 percent at 34,347.43.
On the economic front, the Labor Department’s Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is for 249K, while it was up 248K in the prior week.
The PPI-Final Demand for June will be released at 8.30 am ET. The consensus is for growth of 0.2 percent, while it was down 0.3 percent in May.
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 at 72 bcf.
10-year Treasury Inflation-Protected Securities or TIPS announcement will be held at 11.00 am ET.
30-year Treasury Bond auction will be held at 1.00 pm ET.
The Treasury Statement for June will be issued at 2.00 pm ET. The consensus is for a deficit of $169 billion, while the deficit in the prior month was $240 billion.
Fed Balance Sheet for the week will be revealed at 4.30 pm ET. In the prior week, the level was up $8.29 trillion.
Asian stocks followed Wall Street higher on Thursday.
Chinese shares rallied. The benchmark Shanghai Composite index climbed 1.26 percent to 3,236.48 and Hong Kong’s Hang Seng index jumped 2.60 percent to 19,350.62.
Japanese shares climbed higher. The Nikkei average jumped 1.49 percent to 32,419.33. The broader Topix index settled 0.97 percent higher at 2,242.99.
Australia’s benchmark S&P/ASX 200 rallied 1.56 percent to 7,246.90. The broader All Ordinaries index gained 1.55 percent to finish at 7,455.40.
Business News
Wall Street Set To Open Higher
2023-07-13 12:12:42
