Wall Street Poised To Open In Negative Territory

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Earnings might be the focus on Thursday. Data on producer price inflation as well as the weekly jobless claims report also will get special attention on the day.

Asian shares finished mixed, while European shares are declining.

As of 7.35 am ET, the Dow futures were declining 436.00 points, the S&P 500 futures were sliding 52.25 points and the Nasdaq 100 futures were losing 116.00 points.

Wednesday, the U.S. major averages finished in negative territory. The Dow slid 208.54 points or 0.7 percent to 30,772.79, the Nasdaq edged down 17.15 points or 0.2 percent to 11,247.58 and the S&P 500 fell 17.02 points or 0.5 percent to 3,801.78.

On the economic front, the Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 234K, while it was up 235K in the previous week.

The Producer Price Index or PPI of the Bureau of Labor Statistics for June is scheduled at 8.30 am ET. The consensus is for a growth of 0.8 percent, while it was up 0.8 percent in the previous month.

The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the prior week, the level was at $8.892 trillion.

Twenty-year Treasury Bond Auction will be held at 11.00 am ET.

Ten-year Treasury Inflation-Protected Securities or TIPS auction will be held at 11.00 am ET.

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 60 bcf.

Asian stocks ended mixed on Thursday. Chinese stocks finished marginally lower. Hong Kong’s Hang Seng index lost 0.22 percent to 20,751.21.

Japanese markets were gaining and were higher at the close. The Nikkei average climbed 0.62 percent to 26,643.39 while the broader Topix index closed 0.23 percent higher at 1,893.13.

Australian markets eked out modest gains.

The benchmark S&P/ASX 200 rose 0.44 percent to 6,650.60 while the broader All Ordinaries index ended 0.60 percent higher at 6,848.60.

European shares are on a decline. CAC 40 of France is down 60.98 points or 1.02 percent. DAX of Germany is declining 136.88 points or 1.07 percent. FTSE 100 of England is sliding 53.35 points or 0.76 percent. Swiss Market Index is up 74.13 points or 0.68 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.20 percent.

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