Futures Point To Slightly Higher Open For Wall Street
On Thursday, reaction to the Fed announcement is continuing. Earnings reports and geopolitical reports are influencing market sentiments.
Weekly jobless claims, service sector activity, labor productivity as well as factory orders are the major economic announcements on the day.
As of 6.00 am ET, the Dow futures were up 2.00 points, the S&P 500 futures were adding 3.50 points and the Nasdaq 100 futures were progressing 23.00 points.
The U.S. major averages were sharply down at the close of trading on Wednesday.
The Dow slumped 505.44 points or 1.6 percent to 32,147.76, the Nasdaq plunged 366.05 points or 3.4 percent to 10,524.80 and the S&P 500 tumbled 96.41 points or 2.5 percent to 3,759.69.
On the economic front, the Commerce Department’s International Trade in Goods and Services for September will be revealed at 8.30 am ET. The consensus is for a deficit of $71.1 billion, while it was down $67.4 billion in August.
The Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The consensus is 222K, while it was up $217K in the previous week.
The Labor Department’s Productivity and Costs for the third quarter will be published at 8.30 am ET. The consensus for the non-farm productivity annual rate is for an increase of 0.5 percent, while it was down 4.1 percent in the previous quarter.
IHS Markit’s Purchasing Managers’ Index or PMI will be released at 9.45 am ET.
The Commerce Department’s Factory Orders for September will be revealed at 10.00 am ET. The consensus is for an increase of 0.3 percent, while it was 0.0 percent.
The Institute for Supply Management’s Services Index for October will be issued at 10.00 am ET. The consensus is 55.4, while it was up 56.7.
The Energy Information Administration or EIA’s Natural Gas Report for the week is scheduled at 10.30 am ET. In the prior week, the gas stock was 52 bcf.
The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the prior week, the level was at $8.723 trillion.
Asian stocks finished lower on Thursday. China’s Shanghai Composite index slipped 0.19 percent to 2,997.81.
Hong Kong’s Hang Seng index slumped 3.08 percent to 15,339.49.
Japanese markets were closed on account of the Culture Day holiday.
Australian markets were down. The benchmark S&P/ASX 200 fell 128.80 points, or 1.84 percent, to 6,857.90 while the broader All Ordinaries index dropped 1.77 percent to 7,050.60.
European shares are trading lower. CAC 40 of France is down 49.26 points or 0.78 percent. DAX of Germany is declining 143.41 points or 1.08 percent. FTSE 100 of England is sliding 49.24 points or 0.69 percent. Swiss Market Index is tumbling 119.80 points or 1.11 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.05 percent.
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