Economic announcements will be the focus on Thursday. Inflation data might be influencing the market sentiments today. The GDP for the first quarter, the Jobless Claims for the week, the International Trade in Goods (Advance) for May, the Corporate profits for the first quarter, as well as the Durable Goods Orders for May will get special attention of the investors.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower. Asian shares finished mostly down, while European shares are trading broadly in the negative side.
is expected at 8.30 am ET. In the prior quarter, the profits were up 10.9 percent.
In the Asian trading session, gold edged up slightly to trade above $2,300 per ounce after a two-day decline, while oil prices were marginally lower in Asian trading after data showed a large build in U.S. stockpiles.
As of 8.00 am ET, the Dow futures were down 88.00 points, the S&P 500 futures were declining 9.25 points and the Nasdaq 100 futures were sliding 36.75 points.
The U.S. major averages closed on the positive note on Wednesday. The Nasdaq was up by 87.5o points or 0.49 percent, to 17,805.16. The Dow ended up by 15.64 points or 0.04 percent at 39,127.80, while the S&P 500 settled at 5,477.60, gaining 8.60 points or 0.16 percent.
On the economic front, the Durable Goods Orders for May will be issued at 8.30 am ET. The consensus is for 0.0 percent, while it was up 0.7 percent in the prior month.
The GDP for the first quarter will be released at 8.30 am ET. The consensus is for an increase of 1.4 percent, while it was up 1.3 percent in the prior quarter.
The International Trade in Goods (Advance) for May will be published at 8.30 am ET. The consensus is for a deficit of $95.6 billion, while the deficit in the prior month was $99.4 billion.
The Jobless Claims for the week will be revealed at 8.30 am ET. The consensus is 236K, while it was up 238K in the prior week.
The Corporate profits for the first quarter is expected at 8.30 am ET. In the prior quarter, the profits were up 10.9 percent.
The Pending Home Sales Index for May is scheduled at 10.00 am ET. The consensus is up 1.9 percent, while it was down 7.7 percent in April.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be issued at 10.30 am ET. In the prior week, the gas stock was up 71 bcf.
The Fed Balance sheet for the week is expected at 4.30 pm ET. In the prior week, the level was at $7.253 trillion.
Asian stocks declined on Thursday. China’s Shanghai Composite Index fell 0.9 percent to 2,945.85. Hong Kong’s Hang Seng Index tumbled 2.1 percent to 17,716.47.
Japanese markets drifted lower. The Nikkei 225 Index slid 0.8 percent to 39,341.54, while the broader Topix Index settled 0.3 percent lower at 2,793.70.
Australian markets ended lower. The benchmark S&P/ASX 200 Index dropped 0.3 percent to 7,759.60, with banks and real estate stocks leading losses. The broader All Ordinaries Index ended 0.3 percent lower at 8,002.80.
Business News
Wall Street Sees Red
2024-06-27 12:29:45
