The Jobless Claims for the week might be the focus on Thursday. The Philadelphia Business Outlook Survey as well as a slew of Fed speeches also attract investors attention.
The initial signs from the U.S. Futures index is pointing to a lower opening for Wall Street. Asian shares finished mostly higher, while majority of European stocks index are trading positive.
As of 7.00 am ET, the Dow futures were down 19.00 points, the S&P 500 futures were losing 3.50 points and the Nasdaq 100 futures were declining 9.50 points.
U.S. stocks closed mixed on Wednesday. The Dow dipped 38.56 points or 0.2 percent to 24.748.07, While the Nasdaq rose 14.14 points or 0.2 percent to 7,295.24 and the S&P 500 inched up 2.25 points or 0.1 percent to 2,708.64.
On the economic front, the U.S. labor department’s Jobless Claims for the week will be published by 8.30 am ET. The consensus for new claims is 230 K, compared to 233K in the prior week.
Federal Reserve Bank of Philadelphia’s Business Outlook Survey for February is scheduled at 8.30 am ET. The consensus is for 20.1 down from 22.3 in March.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be published at 10.30 am ET. The prior week’s change was a decline of 19 bcf.
The Fed Balance sheet for the week will be published at 4.30 pm ET. The prior week level was $4.384 trillion.
The Fed Money Supply for the week is expected at 4.30 pm ET. The M2 weekly change was up $4.5 billion.
Federal Reserve Governor Lael Brainard will speak at the 2018 Global Finance Forum in Washington, with audience Q&A at 8.00 am ET.
Federal Reserve Vice Chairman for Supervision Governor Randal Quarles will provide semi-annual testimony before the Senate Banking Committee at 9.30 am ET.
Cleveland Federal Reserve Bank President Loretta Mester will speak about outlook and policy at an event sponsored by the University of Pittsburg Joseph M. Katz Graduate School of Business and Deloitte LLP in Pittsburgh, with audience and media Q&A at 6.45 pm.
2-year, 5-year, 7-year Treasury Note auction will be held at 11.00 am ET. The 5-year TIPS auction will be held at 1.00 pm ET.
In the corporate sector, Danaher Corp. said it expects adjusted net earnings per share to be in the range of $4.38 to $4.45 versus previous guidance of $4.25 to $4.35. For the second quarter 2018, the company anticipates adjusted net earnings per share to be in the range of $1.07 to $1.10. For the first-quarter, adjusted net earnings per share were $0.99, a 16.5 percent increase over the comparable 2017 period. For the first quarter 2018, revenues increased 11.5 percent year-over-year to $4.7 billion, with non-GAAP core revenue growth of 5.5 percent.
The Bank of New York Mellon Corp. reported first quarter earnings of $1.14 billion, or $1.10 per share, up from $880 million, or $0.83 per share last year. Revenue for the quarter rose 8.9 percent to $4.18 billion from $3.84 billion last year.
Asian stocks roared back on Thursday to finish higher. China’s Shanghai Composite index closed up 25.98 points or 0.84 percent at 3,117.38. Hong Kong’s Hang Seng index ended 424.19 points or 1.30 percent higher at 30,708.44.
Japanese shares hit a seven-week high after Prime Minister Shinzo Abe and U.S. President Donald Trump said they had agreed to intensify consultations for expanding investment and trade. The Nikkei average inched up 32.98 points or 0.15 percent to 22,191.18 while the broader Topix index closed marginally higher at 1,750.18.
Australian shares extended gains for the fifth straight session. Investors shrugged off the jobs report showing that the Australian economy added 4.900 jobs last month. The benchmark S&P/ASX 200 rose 19.60 points or 0.33 percent to 5,881 while the broader All Ordinaries index ended up 20.10 points or 0.34 percent at 5,976.40.
European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 8.29 points or 0.15 percent, the German DAX is losing 13.55 points or 0.11 percent, the U.K. FTSE 100 Index is progressing 15.43 points or 0.21 percent. The Swiss Market Index is declining 15.07 points or 0.17 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.03 percent.
by RTTNews Staff Writer
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