Reports on Weekly Jobless Claims, Existing Home Sales, and other major economic announcements are the highlights on Thursday.
Asian shares finished mixed, while European shares are trading mostly lower.
Early trends on the U.S. Futures Index suggest that Wall Street might open lower.
As of 8.10 am ET, the Dow futures were declining 150.00 points, the S&P 500 futures were down 22.50 points and the Nasdaq 100 futures were falling 105.75 points.
The U.S. major averages remained sharply higher on Wednesday’s close. The Nasdaq surged 246.67 points or 1.4 percent to 17,750.79, the S&P 500 jumped 60.63 points or 1.1 percent to 5,675.29 and the Dow climbed 383.32 points or 0.9 percent to 41,964.63.
On the economic front, the Labor Department’s Jobless claims for the week is scheduled at 8.30 am ET. The consensus is for an increase of 225K, while it was up 220K in the prior week.
The Philadelphia Fed Manufacturing Index for March will be released at 8.30 am ET. The consensus is for an increase of 11.5, while it was up 18.1 in the previous month.
The Commerce Department’s Current Account for the fourth quarter will be issued at 8.30 am ET. The consensus is for a deficit of $330 billion, while the deficit was $310.9 billion in the prior quarter.
National Association of Realtors’ Existing Home Sales for February is expected at 10.00 am ET. The consensus is for an increase of 3.950 million, while it was up 4.08 million in the prior month.
The Leading Indicators for February will be revealed at 10.00 am ET. The consensus is for a decline of 0.2 percent, while it was down 0.3 percent in January.
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 10.30 am ET.
Two-year Floating Rate Note or FRN, 2-year, 5-year, 7-year Treasury Note auction is expected at 11.00 am ET.
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 published at 4.30 pm ET. In the prior week, the Level was $6.760 trillion.
Asian stocks ended mixed on Thursday, while Chinese and Hong Kong markets fell.
China’s Shanghai Composite Index dropped 0.5 percent to 3,408.95. Hong Kong’s Hang Seng Index tumbled 2.2 percent to 24,219.95.
Japanese markets were closed for a holiday.
Australian markets rallied. The benchmark S&P/ASX 200 Index jumped 1.2 percent to 7,918.90. The broader All Ordinaries Index settled 1.2 percent higher at 8,148.90.
European shares are trading mostly negative. CAC 40 of France is down 91.16 points or 1.12 percent. DAX of Germany is falling 333.77 points or 1.43 percent.
FTSE 100 of England is declining 23.85 points or 0.27 percent. The Swiss Market Index is up 14.13 points or 0.11 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.13 percent.
Business News
Wall Street Poised To Open In Negative Territory
2025-03-20 12:31:13
