The Weekly Jobless Claims, New Home Sales and other economic announcements will be the highlight on Thursday. Earnings reports as well as the Middle East tensions will be influencing the investor sentiments.
In the Asian trading session, gold drifted, oil prices were up more than 1 percent. Asian shares ended broadly lower, while European shares were trading higher.
Initial trends on U.S. Futures Index suggest that Wall Street might open mostly up.
As of 8.15 am ET, the Dow futures were down 63.00 points, the S&P 500 futures were adding 27.25 points and the Nasdaq 100 futures were progressing 180.00 points.
The U.S. major averages remained firmly negative on Wednesday. The Dow slumped 409.94 points or 1.0 percent to 42,514.95, the Nasdaq tumbled 296.47 points or 1.6 percent to 18,276.65 and the S&P 500 slid 53.78 points or 0.9 percent to 5,797.42.
On the economic front, the Jobless Claims for the week will be released at 8.30 am ET. The consensus is for an increase of 247K, while it was up 241K in the prior week.
The Chicago Fed National Activity Index for September is scheduled at 8.30 am ET. In August, the Index was up 0.12.
The PMI Composite Flash Index for October will be issued at 9.45 am ET. The consensus for manufacturing Index is 47.6, while it was up 47.0 in the prior month.
The New Home Sales for September will be published at 10.00 am ET. The consensus is for an increase of 718K, while it was up 716K in the prior month.
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 up 76 bcf.
Five-year Treasury Inflation-Protected Securities or TIPS will be issued at 1.00 pm ET.
The Fed Balance Sheet for the week will be released at 4.30 pm ET. In the prior week, the Level was up $7.039 trillion.
Asian stocks ended mostly lower on Thursday. China’s Shanghai Composite Index dropped 0.7 percent to 3,280.26. Hong Kong’s Hang Seng Index tumbled 1.3 percent to 20,489.62.
Japanese markets reversed early losses. The Nikkei 225 Index edged up 0.1 percent to 38,143.29, while the broader Topix Index settled marginally lower at 2,635.57.
Australian markets ended slightly lower. The benchmark S&P/ASX 200 Index slipped 0.1 percent to 8,206.30 while the broader All Ordinaries Index closed 0.3 percent lower at 8,453.90.
Business News
Wall Street Might Open Broadly Higher
2024-10-24 12:43:38
