Wall Street To Open Positive

Wall Street To Open Positive

U.S. International trade deficit report and Labor Department’s Jobless Claims might be the focus on Thursday. The market is positive as tension related to U.S. – China trade war is relieved. The investors are closely monitoring the geo-political developments across the globe.

Initial trends on U.S. Futures Index suggest that, Wall Street might open higher.

Asian shares closed mixed, while European shares are trading in a green territory.

As of 6.45 am ET, the Dow futures were climbing 39.00 points, the S&P 500 futures were adding 9.00 points and the Nasdaq 100 futures were gaining 39 points.

U.S. stocks closed sharply higher on Wednesday. The Dow jumped 230.94 points or 1 percent to 24,264.30, the Nasdaq soared 100.83 points or 1.5 percent to 7,042.11 and the S&P 500 surged up 30.24 points or 1.2 percent to 2,644.69.
On the economic front, Challenger Job-Cut Report for March is expected at 7.30 am ET. In the prior month, the announced layoffs were 35,369.

The Commerce Department’s International Trade report for February will be published at 8.30 am ET. The consensus is for a deficit of $56.7 billion in line with $56.6 billion in the prior month.

The Labor Department’s Jobless Claims for the week is scheduled at 8.30 am ET. The market analysts are looking for new claims consensus of 230K, up from 215K in the previous week.

The Energy Information Administration or EIA’s Natural Gas Report for the week will be revealed at 10.30 am ET. In the second week the gas report recorded a deficit of 63 bcf.

Atlanta Federal Reserve Bank President Raphael Bostic will speak at the Financial Literacy Day 2018 in Sarasota, Florida, with audience Q&A at 1.00 pm ET.
Three -year, ten-year Treasury Note auction and 30-year Bond auction will be held at 11.00 am ET.

In the corporate sector, AT&T Inc. announced the launch of Vrio Corp.’s initial public offering of 29,684,000 shares of its Class A common stock, all offered by Vrio in a primary offering. The initial public offering price is expected to be between $19.00 and $22.00 per share.

RPM International Inc. narrowed its fiscal 2018 earnings guidance upwards to a range of $3.05 to $3.10 per share from previous guidance of $3.00 to $3.10 per share, reflecting the company’s expectation of a continuation of solid top-line sales and double-digit EBIT growth.

Asian stocks finished mixed on Thursday. China and Hong Kong markets remained closed.

Japanese stocks saw relief rally as the yen weakened on improved risk appetite. The Nikkei average climbed 325.87 points or 1.53 percent to 21,645.42 while the broader Topix index closed 1.08 percent higher at 1,724.61.

Australian shares ended near day’s highs. The benchmark S&P/ASX 200 index rose 27.40 points or 0.48 percent to 5,788.80 while the broader All Ordinaries index ended up 24.30 points or 0.41 percent at 5,888.

Australia posted a merchandise trade balance of A$825 million in February, the Australian Bureau of Statistics said today. That exceeded expectations for a surplus of A$725 million and was down from A$1.055 billion in January.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 93.30 points or 1.81 percent, the German DAX is gaining 227.53 points or 1.90 percent, the U.K. FTSE 100 Index is progressing 90.65 points or 1.29 percent. The Swiss Market Index is up 115.27 points or 1.35 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.89 percent.

by RTTNews Staff Writer

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