Wall Street Poised To Open Lower Ahead Of Jobless Claims

The Labor Department’s Jobless Claims might get special attention on Thursday.

Geo-political developments also are on investors’ scanners. The Ukraine dam Nova Khakovka burst after probably an explosion on its walls. This incident was described across the world as an ‘ecocide’ and this incident might be a turning point in the Russian invasion of Ukraine.

Early trends on the U.S. Futures Index suggest that Wall Street might open lower.

As of 7.40 am ET, the Dow futures were down 36.00 points, the S&P 500 futures were declining 2.75 points and the Nasdaq 100 futures were sliding 13.25 points.

The U.S. major averages finished lower on Wednesday. The Nasdaq tumbled 171.52 points or 1.3 percent to 13,104.90 after ending Tuesday’s trading at its best closing level in well over a year. The S&P 500 also fell 16.33 points or 0.4 percent to 4,267.52, while the Dow rose 91.74 points or 0.3 percent to 33,665.02.

On the economic front, the Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The consensus is 235.5K, while it was up 232K in the prior week.

The Commerce Department’s Wholesale Inventories (Preliminary) for April is scheduled at 10.00 am ET. The consensus is for a decline of 0.2 percent, while it was $0.00 in the previous month.

The Energy Information Administration or EIA’s Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the gas stock was up 110 bcf.

Three-year, 10-year Treasury Note auctions will be held at 11.00 am ET.

Thirty-year Treasury Bond Auction will be held at 11.00 am ET.

The Fed Balance Sheet for the week will be published at 4.30 pm ET. In the prior week, the level was at $8.386 trillion.

Asian markets finished trading on a mixed note on Thursday. China’s Shanghai Composite Index gained 16 points or 0.49 percent to finish trading at 3213.59. The Shenzhen Component Index too added 14 points or 0.13 percent to close at 10,722.87.

The Japanese benchmark Nikkei 225 shed 272 points or 0.85 percent to end trading at 31,641.27.

The Hang Seng Index of the Hong Kong Stock Exchange added 47 points or 0.25 percent from the previous close to finish trading at 19,299.18.

Australia’s S&P/ASX200 closed trading at 7,099.70. The day’s trading range was between 7,093.50 and 7,132.00.

European shares are trading mostly higher. CAC 40 of France is gaining 24.50 points or 0.34 percent. DAX of Germany is adding 42.06 points or 0.26 percent. FTSE 100 of England is declining 2.58 points or 0.03 percent. The Swiss Market Index is up 11.05 points or 0.10 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.18 percent.

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