The initial trend on the U.S. Futures Index suggests that Wall Street might open broadly positive on Thursday. Investors might be focusing on earnings as well as geopolitical developments.
Washington is said to be planning tighter curbs on exports of advanced semiconductor technology to China.
In the Asian trading session, gold edged higher, while oil extended gains.
Asian shares ended mixed, while European shares were trading broadly higher.
As of 8.10 am ET, the Dow futures were declining 71.00 points, the S&P 500 futures were adding 10.75 points and the Nasdaq 100 futures were progressing 101.75 points.
The U.S. major averages finished mostly down on Wednesday. The Dow ended with a gain of 243.60 points or 0.59 percent at 41,198.08. The S&P 500 settled with a loss of 78.93 points or 1.39 percent at 5,588.27, while the Nasdaq dropped 512.42 points or 2.77% to 17,996.92.
On the economic front, the Leading Indicators for June will be published at 10.00 am ET. The consensus is for a decline of 0.3 percent, while it was down 0.5 percent in May.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be released at 10.30 am ET. In the prior week, the gas stock was 65 bcf.
The 10-year Treasury Inflation-Protected Securities or TIPS auction will be held at 1.00 am ET.
Treasury International Capital for May will be released at 4.00 pm ET. In the prior month, the net long-term securities transactions was $123.1 billion.
The Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was at $7.224 trillion.
San Francisco Fed President Mary Daly will participate in fireside chat before the ‘Exploring Conventional Bank Funding Regimes in an Unconventional World’ conference co-sponsored by the Federal Reserve Bank of Dallas and Federal Reserve Bank of Atlanta at 6.05 pm ET.
Fed Governor Michelle Bowman will speak before the ‘Exploring Conventional Bank Funding Regimes in an Unconventional World’ conference co-sponsored by the Federal Reserve Bank of Dallas and Federal Reserve Bank of Atlanta at 7.30 am ET.
Asian stocks fell broadly on Thursday. China’s Shanghai Composite index rose 0.48 percent to 2,977.13 and Hong Kong’s Hang Seng index edged up 0.22 percent to 17,778.41.
Japanese markets tumbled. The Nikkei average slumped 2.36 percent to 40,126.35 while the broader Topix index fell 1.60 percent to 2,868.63.
Australian markets fell from a record high. The benchmark S&P/ASX 200 dropped 0.27 percent to 8,036.50. The broader All Ordinaries index settled 0.37 percent lower at 8,272.70.
Business News
Wall Street Poised To Open Broadly Higher
2024-07-18 12:38:03
