The Weekly Jobless Claims, the Philadelphia Fed Manufacturing Index for February, the Conference Board’s Leading Indicators for January, and Fed speeches might get attention on Thursday.
In the Asian trading session, gold reached a new record high, while oil prices fluctuated as investors weighed supply concerns.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
As of 7.55 am ET, the Dow futures were down 131.00 points, the S&P 500 futures were declining 16.50 points and the Nasdaq 100 futures were falling 51.75 points.
The U.S. major averages ended Wednesday modestly higher. The S&P 500 rose 14.57 points or 0.2 percent to 6,144.15, the Dow climbed 71.25 points or 0.2 percent to 44,627.59 and the Nasdaq inched up 14.99 points or 0.1 percent to 20,056.25.
On the economic front, the Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for an increase of 215K, while it was up 213 K in the prior week.
The Philadelphia Fed Manufacturing Index for February will be released at 8.30 am ET. The consensus is for an increase of 22.7, while it was up 44.3 in the previous month.
The Conference Board’s Leading Indicators for January will be issued at 10.00 am ET. The consensus is for an increase of 0.0 percent, while it was down 0.1 percent.
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 down 100 bcf.
30-year Treasury Inflation-Protected Securities or TIPS auction will be held at 1.00 pm ET.
The Fed Balance Sheet will be released at 4.30 pm ET. In the prior week, the Level was at $6.814 trillion.
Chicago Fed President Austan Goolsbee will participate in a question-and-answer session before the Chicagoland Chamber Mid-Market Chicago event at 9.35 am ET.
St. Louis Fed President Alberto Musalem will speak in a conversation on the U.S. economy and monetary policy before the Economic Club of New York at 12.05 pm ET.
Fed Vice Chair for Supervision Michael Barr will speak on ‘Supervision and Regulation’ at the Georgetown University Law Center at 2.30 pm ET.
Fed Governor Adriana Kugler is scheduled to speak on ‘Navigating Inflation Waves While Riding on the Phillips Curve’ before the 2025 Whittington Lecture event hosted by Georgetown University at 5.00 pm ET.
Asian stocks retreated on Thursday. China’s Shanghai Composite Index finished marginally lower at 3,350.78 after a choppy session. Hong Kong’s Hang Seng Index tumbled 1.6 percent to 22,576.98.
Japanese stocks fell sharply. The Nikkei 225 Index slumped 1.2 percent to 38,678. 04, while the broader Topix Index settled 1.2 percent lower at 2,734.60.
Australian markets ended lower. The benchmark S&P/ASX 200 Index dropped 1.2 percent to 8,322.80, dragged down by banking and mining stocks. The broader All Ordinaries Index closed down 1.1 percent at 8,601.70.
Business News
Wall Street Poised To Open In Negative Territory
2025-02-20 13:17:13
