Wall Street Targets To Open Positive

Investors are keen on the weekly jobless claims, Philadelphia-area manufacturing activity to be published on Thursday as well as the Fed talks on the day.

On the earnings front, Cisco Systems (CSCO), Nvidia (NVDA), Bath & Body Works (BBWI), and Victoria’s Secret (VSCO) are among the companies releasing their quarterly results after the close of today’s trading.

Early signs from the U.S. Futures Index suggest that Wall Street might open higher.
As of 7.10 am ET, the Dow futures were up 46.00 points, the S&P 500 futures were adding 12.75 points and the Nasdaq 100 futures were progressing 86.50 points.

The U.S. major averages fluctuated over the course of the session but closed in negative territory on Wednesday. The Dow slid 211.17 points or 0.6 percent to 35,931.05, the Nasdaq fell 52.28 points or 0.3 percent to 15,921.57 and the S&P 500 dipped 12.23 points or 0.3 percent to 4,688.67.

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 261K, while it was up 267K in the prior week.

Federal Reserve Bank of Philadelphia’s Manufacturing Index for November will be published at 8.30 am ET. The consensus is for 21.4, while it was up 23.8.
E-Commerce Retail Sales for the third quarter will be issued at 10.00 am ET. In the prior quarter the sales were up 3.3 percent.

The Energy Information Administration or EIA’s Natural Gas Report for the week will be revealed at 10.30 am ET. In the prior week the gas stock was 7 bcf.

The Fed Balance Sheet for the week will be published at 4.30 pm ET. In the prior week, the level was at $8.663 trillion.

Ten-year Treasury Inflation Protected Securities or TIPS is expected at 1.00 pm ET.

New York Federal Reserve Bank President John Williams to participate in Fireside Chat: The New Federal Reserve and ECB Strategies Implications for Monetary Policy before virtual Transatlantic Economic Policy Responses to the Pandemic and the Road to Recovery event at 9.30 am ET.

San Francisco Federal Reserve Bank President Mary Daly to participate in virtual Fed Listens 2021: Pandemic Recovery and the role of Care Work event at 3.30 pm ET.

Chicago Federal Reserve Bank President Charles Evans to discuss current economic conditions and monetary policy in a moderated Q&A with the 2021 BKD Financial Services Symposium at 2.00 pm ET.

Asian stocks retreated on Thursday. China’s Shanghai Composite index dropped 16.66 points, or 0.47 percent, to 3,520.71.

Hong Kong’s Hang Seng index tumbled 330.36 points, or 1.29 percent, to 25,319.72.

Japanese shares slipped but ended off their day’s lows. The Nikkei average ended down 89.67 points, or 0.30 percent, at 29,598.66 while the broader Topix index dipped 0.14 percent to settle at 2,035.52.

Australian markets ended a choppy session slightly higher, snapping a two-day losing streak. The benchmark S&P/ASX200 index edged up 9.30 points, or 0.13 percent, to 7,379.20, while the broader All Ordinaries index ended up 9.20 points, or 0.12 percent, at 7,713.20.

European shares are trading mixed. Among the major indexes in the region, the CAC 40 Index of France is progressing 5.72 points or 0.08 percent. The German DAX is adding 12.27 points or 0.08 percent, the U.K. FTSE 100 Index is declining 12.40 points or 0.17 percent.

The Swiss Market Index is down 4.94 points or 0.04 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.013 percent.

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