Reports on Weekly Jobless Claims, Existing Home Sales, other economic announcements as well as Fed talks might be the focus on Thursday. The war situations in Ukraine and Russia are closely monitored by investors.
Early signs from the U.S. Futures Index suggest that Wall Street might open positive.
As of 7.35 am ET, the Dow futures were up 151.00 points, the S&P 500 futures were adding 14.00 points and the Nasdaq 100 futures were progressing 24.25 points.
The U.S. major averages finished mixed on Wednesday. The Dow ended the day up 139.53 points or 0.3 percent at 43,408.47, while the S&P 500 closed little changed, up just 0.13 points at 5,917.11.
The tech-heavy Nasdaq closed down 21.32 points or 0.1 percent at 18,966.14 but staged a notable recovery attempt after tumbling by as much as 1.4 percent.
On the Economic front, the Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 219K, while it was 217K in the prior week.
The Philadelphia Fed Manufacturing Index for November is scheduled at 8.30 am ET. The consensus 7.0, while it was up 10.3 in the prior month.
The Existing Home Sales for October is expected at 10.00 am ET. The consensus is for an increase of 3.9 million, while it was up 3.84 million in September.
The Conference Board’s Leading Indicators for October will be released at 10.00 am ET. The consensus is for a decline of 0.3 percent, while it was down 0.5 percent in the prior month.
The Quarterly Services Survey for the third quarter will be issued at 10.00 am ET. In the prior quarter, the Selected Services Revenue was up 1.5 percent.
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 42 bcf.
Two-year Floating Rate Note or FRN, Two-year Treasury Note auction, Five-year Treasury Note auction and Seven-year Treasury Note auction will be published at 11.00 am ET.
Kansas City Fed Manufacturing Index for November will be issued at 11.00 am ET. In the prior month the Level was down 4.
Ten-year Treasury Inflation-Protected Securities or TIPS auction will be held at 1.00 pm ET.
The Fed Balance sheet for the week will be announced at 4.30 pm ET.
Cleveland Fed President Beth Hammack will give welcome remarks before the 2024 Financial Stability Conference: Emerging Risks in a Time of Interconnectedness and Innovation, hosted by the Cleveland Fed and the Office of Financial Research at 8.45 am ET. Hammack will also speak at the conference at 12.30 am ET.
Kansas City Fed President Jeffrey Schmid will speak on Longer-term Considerations for Growth and Monetary Policy at a luncheon hosted by the Fairfax Industrial Association in Kansas City at 12.30 pm ET.
Fed Reserve Vice Chair for Supervision Michael Barr will participate in a discussion before the 2024 FinRegLab AI Symposium at 4.40 pm ET.
Asian markets were down on Thursday closing. China’s Shanghai Composite Index edged up 0.07 percent to finish trading at 3,370.40. The Hang Seng Index of the Hong Kong Stock Exchange dropped 104 points or 0.53 percent from the previous close to finish trading at 19,601.11. The Shenzhen Component Index edged down 0.07 percent to close at 10,819.88.
The Japanese benchmark Nikkei 225 slipped 326 points or 0.85 percent to close at 38,026.17.
Australia’s S&P/ASX200 closed trading at 8,323.00, edging down 3 points or 0.04 percent.
Business News
Wall Street Aims To Open Higher
2024-11-21 12:57:55
