Wall Street Aims To Open Positive

Consumer Price Inflation report, Jobless Claims and a couple of Fed speeches might of interest on Thursday.

Initial trends on the U.S. Futures Index suggest that Wall Street might open positive.

Asian shares were lower at the close, while European shares are trading down.

As of 7.10 am ET, the Dow futures were up 65.00 points, the S&P 500 futures were adding 11.00 points and the Nasdaq 100 futures were progressing 53.75 points.

The U.S. major averages finished Wednesday’s session lower. The Dow tumbled 646.89 points or 2.0 percent to 32,513.94, the Nasdaq plunged 263.02 points or 2.5 percent to 10,353.17 and the S&P 500 dove by 79.54 points or 2.1 percent to 3,748.57.

On the economic front, the Labor Department’s Consumer Price Index or CPI for October will be released at 8.30 am ET. The consensus is an increase of 0.7 percent, while it was up 0.4 percent in the prior month.

The Labor Department’s Jobless Claims for the week will be published at 8.30 am ET. The consensus is 221K, while it was up 217K in the prior week.

The Energy Information Administration or EIA’s Natural Gas Report for the week will be issued at 10.30 am ET. In the prior week, the gas stock was up 107 bcf.

Ten-year Treasury Inflation-Protected Securities or TIPS will be announced at 11.00 am ET. Twenty-year Treasury announcement will be held at 11.00 am ET, while the 30-year Bond auction will be held at 1.00 pm ET.

The U.S. Treasury Statement for October will be revealed at 2.00 pm ET. In the prior month, the balance was a deficit of $429.7 billion.

The Fed Balance Sheet for the week will be published at 4.30 pm ET. In the prior week, the level was at $8.677 trillion.

Philadelphia Federal Reserve Bank President Patrick Harker will speak on the economic outlook before the Risk Management Association, Philadelphia Chapter at 9.00 am ET.

Dallas Federal Reserve Bank President Lorie Logan will speak before the Energy and the Economy: The New Energy Landscape conference at 9.35 am ET. Kansas City Federal Reserve Bank President Esther George will speak at the New Energy Landscape conference at 1.30 pm ET.

New York Federal Reserve Bank President John Williams to give honoree remarks before the Pace Celebrates Downtown Changemakers event organized by Pace University.

Asian stocks tumbled on Thursday. China’s Shanghai Composite index slipped 0.39 percent to 3,036.16. Hong Kong’s Hang Seng index ended down 1.70 percent at 16,081.04.

Japanese shares fell today. The Nikkei average fell 0.98 percent to 27,446.10 while the broader Topix index closed 0.66 percent lower at 1,936.66.
Australian markets snapped a four-session winning streak. The benchmark S&P/ASX 200 dropped half a percent to 6,964 while the broader All Ordinaries index slid 0.58 percent to 7,145.70.

European shares are trading lower. CAC 40 of France is down 30.49 points or 0.47 percent. DAX of Germany is declining 1.40 points or 0.01 percent. FTSE 100 of England is sliding 6.64 points or 0.10 percent. Swiss Market Index is down 10.46 points or 0.10 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.10 percent.

Source: Read Full Article