Futures Suggests Wall Street To Open Lower
Trading on Thursday might be impacted by reaction to a new batch of U.S. economic data, including reports on retail sales and weekly jobless claims.
The recent report that booster vaccine doses might be safe and effective might make the booster doses inevitable. The vaccination drive across the globe is progressing.
Asian shares finished mixed, while European shares are trading positive.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
As of 7.25 am ET, the Dow futures were down 11.00 points, the S&P 500 futures were declining 4.75 points and the Nasdaq 100 futures were sliding 31.00 points.
The U.S. major averages finished Wednesday’s session near their best levels. The Dow climbed 236.82 points or 0.7 percent to 34,814.39, the Nasdaq advanced 123.77 points or 0.8 percent to 15,161.53 and the S&P 500 jumped 37.56 points or 0.9 percent to 4,480.70.
On the economic front, the Labor Department’s Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is 315K, while it was up 310K in the previous week.
Philadelphia Fed Manufacturing Index for September will be published at 8.30 am ET. The Consensus is 19.2, while it was up 19.4 in August.
The Department of Commerce’s Retail Sales report for August will be issued by 8.30 am ET. The Consensus is for a decline of 0.8 percent, while it was down 1.1 percent in the previous month.
The Commerce Department’s Business Inventories for July will be revealed at 10.00 am ET. The Consensus is for an increase of 0.5 percent, while in June it was up 0. 8 percent.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be published at 10.30 am ET. In the previous week, the gas stock was up 52 bcf.
Two-year Treasury Note auction will be held at 11.00 am ET. Ten-year Treasury Inflation Protected Securities or TIPS announcement is scheduled at 11.00 am ET.
Fed Balance Sheet for the week is expected at 4.30 pm ET. In the prior week, the level was at $8.357 trillion.
Asian stocks ended broadly lower on Thursday. China’s Shanghai Composite index fell 49.13 points, or 1.34 percent, to 3,607.09.
Hong Kong’s Hang Seng index fell 365.36 points, or 1.46 percent, to 24,667.85.
Japanese shares ended lower on Thursday. The Nikkei average fell 188.37 points, or 0.62 percent, to 30,323.34, after having hit a 31-year high on Monday. The broader Topix index closed 0.30 percent lower at 2,090.16.
Australian markets rose notably as higher oil prices helped lift energy stocks. The benchmark S&P/ASX 200 rose 43.20 points, or 0.58 percent, to 7,460.20 even as data showed employment in the country fell sharply in August.
The broader All Ordinaries index gained 36.60 points, or 0.47 percent, to finish at 7,759.80.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is adding 68.64 points or 1.04 percent. The German DAX is progressing 78.03 points or 0.50 percent, the U.K. FTSE 100 Index is up 31.09 points or 0.45 percent.
The Swiss Market Index is gaining 68.15 points or 0.57 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.81 percent.
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