Wall Street Set To Open Lower Ahead Of Jobless Claims

The Weekly Jobless Claims might be the focus on Thursday. The monthly Jobs report is scheduled on Friday.

Early cues from the U.S. Futures Index suggest that Wall Street might open lower.

Asian shares finished broadly up, while European shares are trading mostly higher.

As of 7.35 am ET, the Dow futures were declining 6.00 points, the S&P 500 futures were sliding 2.00 points and the Nasdaq 100 futures were down 9.00 points.

The U.S. major averages finished higher on Wednesday. The tech-heavy Nasdaq jumped by 254.21 points or 1.3 percent to 19,735.16. The Dow advanced 308.51 points or 0.7 percent to 45,014.04, while the S&P 500 climbed 36.61 points or 0.6 percent to 6,086.49.

On the economic front, the International Trade in Goods and Services for October will be issued at 8.30 am ET. The consensus is for a deficit of $75.4 billion, while the deficit in the prior month was $84.4 billion.

The Labor Department’s Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is 215K, while it was up 213K in the prior week.

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 down 2 bcf.

Three-year, ten-year Treasury Note auction and 30-year Treasury Bond auction will be held at 11.00 am ET.

Fed Balance Sheet for the week is expected at 4.30 pm ET. In the prior week, the Level was at $6.906 trillion.

Richmond Fed President Thomas Barkin will speak before in-person Charlotte Regional Business Alliance 2024 Economic Outlook event at 12.15 pm ET.

Asian stocks ended mixed on Thursday. Chinese shares ended on a firm note. The benchmark Shanghai Composite index rose 0.12 percent to 3,368.86 while Hong Kong’s Hang Seng index fell 0.92 percent to 19,560.44.

Japanese stocks rose modestly. The Nikkei average ended the session up 0.30 percent at 339,395.60. The broader Topix index settled marginally higher at 2,742.24.

Australian markets advanced. The benchmark S&P/ASX 200 edged up by 0.15 percent to 8,474.90 while the broader All Ordinaries index settled 0.18 percent higher at 8,744.50.

European shares are trading mostly higher. CAC 40 of France is progressing 11.44 points or 0.16 percent. DAX of Germany is adding 79.08 points or 0.39 percent. FTSE 100 of England is down 7.65 points or 0.09 percent. The Swiss Market Index is declining 11.76 points or 0.10 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.49 percent.

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