Wall Street Aims Positive

Early signs from the U.S. Futures Index suggest that Wall Street will open higher on Thursday.

The promising results from a Covid-19 vaccine trial and encouraging data from top two economies the United States and China boosting sentiment.

Investors also looked ahead to major economic announcements on the day.

Asian shares finished higher, while European shares are trading positive.

As of 8.25 am ET, the Dow futures were up 383.00 points, the S&P 500 futures were adding 35.25 points and the Nasdaq 100 futures were progressing 89.00 points.

The U.S. major indices closed mostly higher on Wednesday. The Dow moved to the downside going into the close, ending the session down 77.91 points or 0.3 percent to 25,734.97. Meanwhile, the Nasdaq jumped 95.86 points or 1 percent to 10,154.63 and the S&P 500 climbed 15.57 points or 0.5 percent to 3,115.86.

On the economic front, the Employment Situation report for June will be published at 8.30 am ET. The consensus for non-farm payrolls is 3,000,000, while it was at 2,509,000 in the prior month. Consensus for unemployment rate is 12.4 percent, while it was up 13.3 percent in May.

International Trade for May will be issued at 8.30 am ET. The consensus is for a deficit of $53.0 billion.
Jobless Claims for the week is expected at 8.30 am ET. The consensus is for 1400K, while it was 1480K in the previous week.

Factory Orders May will be revealed at 10.00 am ET. The consensus is for an increase of 8.7 percent, while it was down 13.0 percent.

The Energy Information Administration or EIA for the week will be published at 10.30 am ET. In the prior week, the change was 120 bcf.

Asian stocks rose on Thursday. Chinese shares soared on signs the economy is gradually emerging from a sharp contraction in the first quarter. The sentiment was also bolstered by hopes of more government spending after the finance ministry said it will sell more special treasury bonds to fund public health-related infrastructure facilities.

The benchmark Shanghai Composite index jumped 64.59 points, or 2.13 percent, to 3,090.57, while Hong Kong’s Hang Seng index rose by 2.85 percent to 25,124.19.
Japanese shares finished marginally higher. The Nikkei average ended up 24.23 points, or 0.11 percent, at 22,145.96. The broader Topix index closed 0.27 percent higher at 1,542.76.

Australian markets advanced. The benchmark S&P/ASX 200 index rallied 98.30 points, or 1.66 percent, to 6,032.70, while the broader All Ordinaries index ended up 101.30 points, or 1.68 percent, at 6,142 30.

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