The reports on durable goods orders, jobless claims and second quarter GDP might get attention on Thursday. Major Corporates such as Ford (F) and IBM Corp. (IBM) will be releasing their quarterly results.
In the Asian session, gold fell more than 1 percent on profit taking, oil prices declined on concerns.
Asian shares finished mostly down, while European shares are trading in a negative territory.
Early trends on the U.S. Futures Index suggest that Wall Street might open lower.
As of 8.00 am ET, the Dow futures were down 27.00 points, the S&P 500 futures were declining 14.00 points and the Nasdaq 100 futures were tumbling 69.25 points.
The major U.S. major averages closed near their worst levels on Wednesday. The Nasdaq plunged 654.94 points or 3.6 percent to 17,342.41, the S&P 500 dove 128.61 points or 2.3 percent to 5,427.13 and the Dow slumped 504.22 points or 1.3 percent to 39,853.87
On the economic front, the Durable Goods Orders for June will be published at 8.30 am ET. The consensus is for growth of 0.3 percent, while it was up 0.1 percent in the previous month.
The Gross Domestic Product or GDP for Q2 will be issued at 8.30 am ET. The consensus is for an increase of 2.0 percent, while it was up 1.4 percent in the previous month.
International Trade in Goods (Advance) for June will be revealed at 8.30 am ET. The consensus is for a deficit of $98 billion, while the prior revised deficit was $99.4 billion.
The Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The consensus is 238K, while it was 243K in the previous week.
The Retail Inventories (Advance) for June is scheduled at 8.30 am ET. In May, the inventories were up 0.7 percent.
The Energy Information Administration or EIA’s Natural Gas Report for the week is expected at 10.30 am ET. In the prior week, the gas stock was 10 bcf.
The Fed Balance Sheet for the week will be released at 4.30 pm ET. In the prior week, the level was at $7.208 trillion.
Seven-year Treasury Note auction will be held at 1.00 pm ET.
Asian stocks plunged on Thursday. China’s Shanghai Composite index dipped 0.52 percent to 2,886.74.
Hong Kong’s Hang Seng index tumbled 1.77 percent to 17,004.97.
Japanese markets led regional losses. The Nikkei average tumbled 3.28 percent to 37,869.51, hitting a three-month low. The broader Topix index settled 2.98 percent lower at 2,709.86.
Australian markets fell sharply to hit a two-week low, dragged down by tech stocks. The benchmark S&P/ASX 200 dropped 1.29 percent to 7,861.20 while the broader All Ordinaries index finished down 1.36 percent at 8,094.30.
European shares are trading lower. CAC 40 of France is losing 151.69 points or 2.02 percent. DAX of Germany is down 224.57 points or 1.22 percent. FTSE 100 of England is declining 48.08 points or 0.59 percent. The Swiss Market Index is sliding 170.97 points or 1.40 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.71 percent.
Business News
Wall Street Might Open Lower
2024-07-25 12:21:40
