Wall Street Set To Open Modestly Higher

Investors might continue to react to the Fed’s decision. Weekly jobless Claims and New Home Sales will be the highlights on Thursday.

Early cues from the U.S. Futures Index suggest that Wall Street might open modestly up.

Asian shares finished mixed, while European shares are trading down.

As of 8.10 am ET, the Dow futures were up 43.00 points, the S&P 500 futures were adding 16.75 points and the Nasdaq 100 futures were progressing 103.50 points.

The U.S. major averages finished Wednesday’s session lower. The Dow plunged 530.49 points or 1.6 percent to 32,030.11, the Nasdaq tumbled 190.15 points or 1.6 percent to 11,669.96, and the S&P 500 dove 65.90 points or 1.7 percent to 3,936.97.

On the economic front, the Labor Department’s Jobless Claims for the week will be released at 8.30 am ET. The consensus is 195K, while it was up 192K in the prior week.

The Chicago Fed National Activity Index for February will be issued at 8.30 am ET. The consensus is 0.18, while it was up 0.23 in January.

The Commerce Department’s Current Account for the fourth quarter will be published at 8.30 am ET. The consensus is for a deficit of $213.2 billion, while the deficit was $217.1 billion in the previous quarter.

The Commerce and the Housing and Urban Development Department’s New Home Sales announcement for February is scheduled at 10.00 am ET. The consensus is 645K, while it was up 670K in the prior month.

The Energy Information Administration or EIA’s Natural Gas Report for the week is expected at 10.30 am ET. In the prior week, the gas stock was down 58 bcf.

Two-year Floating Rate Notes or FRN, two-year Treasury Note auctions, five-year Treasury Note, and announcements will be held at 11.00 am ET.

Kansas City Fed Manufacturing Index for March will be issued at 11.00 am ET.
Ten-year Treasury Inflation-Protected Securities or TIPS will be published at 1.00 pm ET.

The Fed Balance Sheet for the week will be issued at 4.30 pm ET. In the prior week, the level was up $8.639 trillion.

Asian stocks turned in a mixed performance on Thursday. The Chinese markets ended higher.

Shanghai’s Composite Index climbed 0.64 percent to 3,286.65, and the Shenzhen Component Index gained 0.94 percent to settle at 11,605.29.

Hong Kong’s Hang Seng Index was up 433.57 points or 2.21 percent to 20,025.00.
The Japanese market ended marginally down with the Nikkei 225 dropping 47 points or 0.17 percent to 27,419.61.

The Australian market closed weak. The benchmark S&P/ASX 200 ended down 47 points or 0.67 percent at 6,968.60, and the broader All Ordinaries Index settled lower by 52.10 points or 0.72 percent at 7,148.60.

European shares are trading down. CAC 40 of France is declining 30.92 points or 0.43 percent. DAX of Germany is sliding 81.44 points or 0.54 percent. FTSE 100 of England is falling 68.92 points or 0.91 percent. Swiss Market Index lost 98.07 points or 0.91 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.33 percent.

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