Futures Suggests Wall Street To Open Broadly Up Ahead Of Weekly Jobless Claims

Traders might be focusing on the weekly jobless claims on Thursday. Investor sentiments will be highly influenced by the reports from war-torn Ukraine and the move for wider sanctions.

Asian shares finished lower, while European shares are trading mostly up.
Early signs from the U.S. Futures Index suggest that Wall Street might open broadly up.

As of 7.45 am ET, the Dow futures were down 1.00 points, the S&P 500 futures were adding 5.75 points and the Nasdaq 100 futures were progressing 36.75 points.

On Wednesday, stocks moved mostly lower with the tech-heavy Nasdaq recording a deep slide.

The Nasdaq plunged 315.35 points or 2.2 percent to 13,888.82. The S&P 500 also slumped 43.97 points or 1 percent to 4,481.15. The Dow fell 144.67 points or 0.4 percent to 34,496.51.

On the economic front, the Labor Department’s Jobless Claims for the week will be released at 8.30 am ET. The consensus is for an increase of 202K, while it was up 202K 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 26 bcf.

Three year and ten-year Treasury note auctions will be held at 11.00 am ET. 30-year Treasury Bond auction will be held at 11.00 am ET.

The Fed Consumer Credit report for February will be published at 3.00 pm ET. The consensus is for $16.6 billion, while it was up 6.8 billion in the prior month.

The Fed Balance Sheet for the week will be revealed at 4.30 pm ET. In the prior week, the level was up $8.937 trillion.

St. Louis Federal Reserve Bank President James Bullard to give a presentation on the U.S. economy and monetary policy at an event hosted by the University of Missouri at 9.00 am ET.

New York Federal Reserve Bank President John Williams to give closing remarks at the event organized by the Federal Reserve Bank of New York and the Roberts Enterprise Development Fund at 4.05 pm ET.

Chicago Federal Reserve Bank President Charles Evans and Federal Reserve Bank of Atlanta President Raphael Bostic (from Atlanta) to participate in the virtual conversation at 2.00 pm ET.

Asian stocks were down at Thursday’s closing. Chinese shares were down. The benchmark Shanghai Composite index fell 1.42 percent to 3,236.70 while Hong Kong’s Hang Seng index ended down 1.23 percent at 21,808.98.

Japanese shares finished lower. The Nikkei average slumped 1.69 percent to 26,888.57.
Australian markets ended lower. The benchmark S&P ASX 200 dropped 0.63 percent to 7,442.80.

European shares finished mostly higher. CAC 40 of France is adding 43.12 points or 0.66 percent. DAX of Germany is gaining 71.12 points or 0.50 percent. FTSE 100 of England is sliding 5.43 points or 0.07 percent. Swiss Market Index is up 78.97 points or 0.64 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.69 percent.

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