Thursday, attention may turn to the Weekly Jobless Claims and Existing Home Sales data. Early signs from the U.S. Futures Index suggest that Wall Street might open positive.
Asian shares closed trading mostly lower, while European shares are trading in negative territory.
In Asian trade, gold rebounded from the lowest level in a month, while oil prices fell on demand concerns.
As of 7.55 am ET, the Dow futures were up 306.00 points, the S&P 500 futures were adding 50.25 points and the Nasdaq 100 futures were progressing 176.50 points.
The U.S. major averages finished Wednesday near their lows of the session. The Dow plummeted 1,123.03 points or 2.6 percent to 42,326.87, the Nasdaq dove 716.37 points or 3.6 percent to 19,392.69 and the S&P 500 plunged 178.45 points or 3.0 percent to 5,872.16.
On the economic front, the Gross Domestic Product or GDP for the third quarter will be released at 8.30 am ET. The consensus is up 2.8 percent, while it was up 2.8 percent in the prior quarter.
The Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for an increase of 230K, while it was up 242K in the prior week.
The Philadelphia Fed Manufacturing Index is scheduled at 8.30 am ET. The consensus is for an increase of 2.5, while it was down 5.5 in the prior month.
The Corporate profits for the third quarter are expected at 8.30 am ET. In the prior quarter, the after-tax corporate profits were up 5.0 percent.
The Existing Home Sales for November will be published at 10.00 am ET. The consensus is for an increase of 4.05 million, while it was up 3.96 million in October.
The Conference Board’s Leading Indicators for November will be revealed at 10.00 am ET. The consensus is for a decline of 0.1 percent, while it was down 0.4 percent in the prior month.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be issued at 10.30 am ET. In the prior week, the gas stock was down 190 bcf.
Two-year Floating Rate Note or FRN, Two-year Treasury Note auction, five-year Treasury Note auction, and seven-year Treasury Note auction are scheduled at 11.00 am ET.
The Kansas City Fe Manufacturing Index for December is scheduled at 11.00 am ET. In the prior month, the Level was down 2.
Five-year Treasury Inflation-Protected Securities or TIPS auction is expected at 1.00 pm ET.
The Treasury International Capital for October will be revealed at 4.00 pm ET. In the prior month, the Net long-term securities transactins were $216.1 billion.
The Fed Balance Sheet for the week will be issued at 4.30 p ET. In the prior week, the Level was at $6.898 trillion.
Asian stocks declined on Thursday. China’s Shanghai Composite index dropped 0.36 percent to 3,370.03. Hong Kong’s Hang Seng index finished 0.56 percent higher at 19,752.51.
Japanese markets ended lower. The Nikkei average ended down 0.69 percent at 38,813.58 while the broader Topix index settled 0.22 percent lower at $2,713.83.
Australian markets fell sharply. The benchmark S&P/ASX 200 fell 1.70 percent to 8,168.20 while the broader All Ordinaries index closed 1.68 percent lower at 8,415.
Business News
Wall Street Aims To Bounce Back
2024-12-19 13:17:15
