Futures Point To Positive Open For Wall Street

The Fed decision, second quarter GDP, Durable Goods Orders, Jobless claims as well as pending Home Sales reports are the highlights on Thursday.

Facebook parent Meta Platforms (META) shall publish their earnings reports today.

As of 7.45 am ET, the Dow futures were up 75.00 points, the S&P 500 futures were adding 30.50 points and the Nasdaq 100 futures were progressing 201.75 points.

Asian shares finished mostly up, while European shares are trading positive.

Early signs from the U.S. Futures Index suggest that Wall Street might open higher.
The U.S. major averages finished broadly down on Wednesday. The Dow rose 82.05 points or 0.2 percent to 35,520.12. The S&P 500 edged down 0.71 points to 4,566.75. The Nasdaq slipped 17.27 points or 0.1 percent at 14,127.28.

Durable Goods Orders for June will be published at 8.30 am ET. The consensus is 0.5 percent, while it was up 1.7 percent in the prior month.

The Gross Domestic Product or GDP for the second quarter is scheduled at 8.30 am ET. The consensus is for an increase of 1.5 percent, while it was up 2.0 percent in the prior quarter.

International Trade in Goods (advance) for June will be issued at 8.30 am ET. The consensus is for a deficit of $91.8 billion, while the deficit in the prior month was $91.1 billion.

The Labor Department’s Jobless Claims for the week will be revealed at 8.30 am ET. The consensus is 235K, while it was up 228K in the prior week.

Retail Inventories (advance) for June is expected at 8.30 am ET. In the prior month, the inventories were up 0.8 percent.

Pending Home Sales Index for June will be published at 10.00 am ET. The consensus is for an increase of 0.3 percent, while it was down 2.7 percent in May.

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 up 41 bcf.

The 7-year Treasury Note auction will be held at 1.00 pm ET.

The Fed Balance sheet for the week will be issued at 4.30 pm ET. In the prior week, the Level was at $8.275 trillion.

Asian stocks advanced on Thursday. Chinese shares ended slightly lower. The benchmark Shanghai Composite index slipped 0.20 percent to 3,216.67 while Hong Kong’s Hang Seng index rallied 1.41 percent to 19,639.11.

Japanese shares rose notably. The Nikkei average gained 0.68 percent to close at 32,891.16. The broader Topix index settled 0.53 percent higher at 2,295.14.

Australian markets climbed on Thursday. The benchmark S&P/ASX 200 rose 0.73 percent to 7,455.90. The broader All Ordinaries index closed up 0.72 percent at 7,672.60.

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