Wall Street Poised To Open Broadly Down

Weekly Jobless Claims as well as Producer Price Inflation are the focus on Thursday. Earnings reports from major corporates such as Disney will also get attention today.

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

As of 7.30 am ET, the Dow futures were down 94.00 points, the S&P 500 futures were sliding 3.00 points and the Nasdaq 100 futures were progressing 11.50 points.

The U.S. major averages finished higher on Wednesday. The Nasdaq finished 126.89 points or 1.0 percent higher at 12,306.44. The S&P 500 was up 18.47 points or 0.5 percent to 4,137.64. Dow bucked the uptrend and edged down 30.48 points or 0.1 percent to 33,531.33.

On the economic front, the Labor Department’s Jobless Claims for the week will be released at 8.30 am ET. The consensus is 245K, while it was up 242K in the prior week.

The Labor Department’s Producer Price Index or PPI-Final Demand for April is scheduled at 8.30 am ET. The consensus is for growth of 0.3 percent, while it was down 0.5 percent.

The Energy Information Administration or EIA’s Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the gas stock was up 54 bcf.

Ten-year Treasury Inflation-Protected Securities or TIPS auction and Twenty-year Treasury Bond Auction will be held at 11.00 am ET.

Thirty-year Treasury Bond Auction will be held at 1.00 pm ET.

The Fed Balance Sheet for the week will be revealed at 4.30 pm ET. In the prior week, the Level was up $8.504 trillion.

Federal Reserve Board Governor Christopher Waller will speak on Financial Stability and Climate Change before the Current Challenges in Economics & Finance conference organized by the Federal Reserve Bank of St. Louis, Banco de Espana, and IE University.

Asian stocks finished mostly down on Thursday. China’s Shanghai Composite Index dropped 0.29 percent to 3,309.55. Hong Kong’s Hang Seng index finished marginally lower at 19,743.79.

Japanese shares ended mixed. The Nikkei average finished marginally higher at 29,126.72 while the broader Topix index closed 0.14 percent lower at 2,083.09 on the back of mixed earnings reports.

Australian markets ended a choppy session marginally lower.

European shares are trading broadly up. CAC 40 of France is gaining 24.62 points or 0.33 percent. DAX of Germany is declining 16.36 points or 0.11 percent. FTSE 100 of England is down 22.01 points or 0.28 percent. The Swiss Market Index is progressing 43.27 points or 0.38 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.23 percent.

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