Earnings as well as third-quarter gross domestic product will get special attention on Thursday. Weekly Jobless Claims, and Durable Goods Orders are the important economic announcements today.
After the close of Thursday’s trading, Facebook parent Meta Platforms, Apple, Amazon, and Ford are the major corporates releasing their quarterly results.
Early signs from the U.S. Futures Index suggest that Wall Street might open broadly down.
As of 7.45 am ET, the Dow futures were up 196.00 points, the S&P 500 futures were declining 2.75 points and the Nasdaq 100 futures were down 65.50 points.
The tech-heavy Nasdaq showed wild swings after an early sell-off before eventually ending the session down 228.12 points or 2.0 percent to 10,970.99.
The S&P 500 also slid 28.51 points or 0.7 percent to 3,830.60, while the narrower Dow inched up 2.37 points or less than a tenth of a percent to a new one-month closing high of 31,839.11.
On the economic front, Durable Goods Orders for September will be issued at 8.30 am ET. The consensus is 0.6 percent, while it was down 0.2 percent in the prior month.
Gross Domestic Product or GDP for the third quarter is scheduled at 8.30 am ET. The consensus is 2.3 percent, while it was down 0.6 percent in the previous month.
The Labor Department’s Jobless Claims for the week will be published at 8.30 am ET. The projection for the next week is 223K, while it was up 214K in the previous month.
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 up 111 bcf.
Kansas City Fed Manufacturing Index for October will be issued at 11.00 am ET. The consensus is up 3, while it was up 1 in the prior month.
Seven-year Treasury Note auction will be held at 1.00 pm ET.
The Fed Balance Sheet for the week will be revealed at 4.30 pm ET. In the prior week, the level was at $8.744 trillion.
In the corporate sector, Apple and Amazon will be reporting their quarterly corporate results today after the bell.
Asian shares finished mixed on Thursday. China’s Shanghai Composite index slipped 0.55 percent to 2,982.90.
Hong Kong’s Hang Seng index climbed 0.72 percent to 15,427.94.
Japanese shares were down at the close. The Nikkei average eased 0.32 percent to settle at 27,345.24 while the broader Topix index closed 0.66 percent lower at 1,905.56.
Australian shares rose to their highest levels in over a month. The resources-heavy S&P/ASX 200 rose half a percent to 6,845.10. The broader All Ordinaries index gained 0.53 percent to close at 7,042.30.
European shares are trading mostly down. CAC 40 of France is declining 61.30 points or 0.98 percent. DAX of Germany is sliding 120.10 points or 0.91 percent. FTSE 100 of England is progressing 4.45 points or 0.06 percent. The Swiss Market Index is losing 88.96 points or 0.82 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.86 percent.
Business News
Ahead Of GDP, Futures Point To Broadly Lower Open For Wall Street
2022-10-27 12:14:59
