Early signs from the U.S. Futures Index suggest that Wall Street might open positive on Thursday. The weekly U.S. initial jobless claims report and Fed speeches might get special attention today. Geopolitical developments, especially around Iran, is closely watched by investors.
Asian shares finished mixed, while European shares are trading mostly up.
In the Asian trading session, gold drifted lower while the dollar held gains. Oil prices fell for the first time in six days.
As of 7.25 am ET, the Dow futures were gaining 127.00 points, the S&P 500 futures were up 22.75 points and the Nasdaq 100 futures were adding 196.25 points.
The U.S. major averages ended Wednesday in negative territory. The tech-heavy Nasdaq declined 238.12 points or 1.0 percent to 23,471.75. The S&P 500 also fell 37.14 points or 0.5 percent to 6,926.60, while the Dow edged down 42.36 points or 0.1 percent to 49,149.63.
On the economic front, the Jobless Claims for the week will be released at 8.30 am ET. The consensus is 212K, while it was up 208K in the prior week.
The Retails Sales for December will be issued at 8.30 am ET. The consensus is for an increase of 0.5 percent, while it was up 0.6 percent in November.
The Philadelphia Fed Manufacturing Index for January will be published at 8.30 am ET. The consensus is for negative 3.5, while down 10.2.
The Empire State Manufacturing Index for January will be revealed at 8.30 am ET. The consensus is 1.0, while it was down 3.9 in the prior month.
The Import and Export Prices for November will be issued at 8.30 am ET. The consensus is for an increase of 0.1 percent, while it was at 0.0 percent.
The Business Inventories for November is expected at 10.00 am ET. In the prior month, the inventories were up 0.3 percent. The Flash wholesale inventories were up 0.2 percent.
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 down 119 bcf.
Ten-year Treasury Inflation Protected Securities or TIPS announcement will be at 11.00 am ET.
Twenty-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 $6.574 trillion.
Atlanta Fed President Raphael Bostic will speak on the economic outlook before the Metro Atlanta Chamber Board of Directors meeting at 8.35 am ET.
Fed Governor Michael Barr will participate in ‘Stablecoins’ panel before the Wharton School of the University of Pennsylvania Conference: Future of Finance Forum at 9.15 am ET.
Richmond Fed President Tom Barkin will speak at the Virginia Bankers Association/Virginia Chamber Financial Forecast at 12.40 pm ET.
Kansas City Fed President Jeffrey Schmid will speak on monetary policy and the economic outlook before the Economic Club of Kansas City at 1.30 pm ET.
Asian stocks ended mixed on Thursday. China’s Shanghai Composite index dipped 0.33 percent to 4,112.60 and Hong Kong’s Hang Seng index slid 0.28 percent to 26,923.62.
Japanese markets closed lower. The Nikkei average dropped 0.42 percent to 54,110.50. The broader Topix index settled 0.68 percent higher at 3,668.98.
Australian markets closed at a two-month high. The benchmark S&P/ASX 200 edged up by 0.47 percent to 8,861.70. The broader All Ordinaries index gained 0.35 percent to close at 9,184.20.
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