The major U.S. index futures are pointing to a higher opening on Thursday, with sentiment reflecting nervousness following recent gains. In response to tempered risk appetite, crude oil has turned sharply lower and the dollar is up against the euro and commodity currencies. The jobless claims report showed a slightly bigger than expected increase in claims. Earnings news of the day has largely been positive. The domestic markets may now turn their focus on the results of a regional manufacturing survey. U.S. stocks rose for the second straight session amid bargain hunting on Wednesday, with oil's rally and stimulus hopes offering solid support. The major averages opened higher and advanced steadily throughout the session, ending notably higher. The Dow Industrials added 284.96 points or 1.64 percent before ending at 17,695, the S&P 500 Index ended up 34.68 points or 1.70 percent at 2,071 and the Nasdaq Composite closed 87.38 points or 1.86 percent higher at 4,779. Twenty-nine of the thirty Dow components closed higher for the session, with American Express (AXP), Nike (NKE), Boeing (BA), JP Morgan Chase (JPM) and Merck (MRK) rising sharply. Among the sectors, transportation, biotechnology, resource, financial, semiconductor, computer hardware, housing and retail stocks were among the best performers of the session. On the economic front, personal income rose slightly less than expected and consumer-spending growth was in line with expectations, according to a report released by the Commerce Department. Personal income increased 0.2 percent month-over-month in May following an upwardly revised 0.5 percent increase in April. Personal spending was up 0.4 percent, although slower than the revised 1.1 percent increase in the previous month. The core price consumption expenditure index rose 0.2 percent month-over-month and was up 1.6 percent year-over-year, the same rate as in the previous month. The National Association of Realtors reported that pending home sales fell 3.7 percent month-over-month in May compared to the 1 percent drop estimated by economists. This reversed the downwardly revised 3.9 percent increase in April. Annually, pending home sales were down 0.2 percent. Currency, Commodity Markets Crude oil futures for August delivery are slipping $1.05 to $48.83 a barrel after jumping $2.03 to $49.88 a barrel on Wednesday. The previous session's rally came amid the release of the weekly petroleum status report for the week ended June 24th, which showed that crude oil stockpiles fell by 4.1 million barrels to 526.60 million barrels. Despite the drop, stockpiles were at historically high levels for this time of year. Distillate inventories declined by 1.8 million barrels but were well above the upper limit of the average range for this time of the year. Meanwhile, gasoline inventories rose by 1.4 million barrel and were well above the upper limit of the average range. Refinery capacity utilization averaged 91.4 percent over the four weeks ended June 24th compared to 90.5 percent for the four weeks ended June 17th. Gold futures are currently trading at $1,320.60 an ounce, down $6.30 from the previous session's close of $1,326.90 an ounce. On Wednesday, gold slipped $2.50.
On the currency front, the U.S. dollar is trading at 102.67 yen compared to the 102.83 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1108 compared to yesterday's $1.1125. Asia Most Asian markets advanced yet again, with China the lone decliner. Traders continued to seek bargains amid strengthening hopes that additional stimulus could be on the way. The Japanese market managed to end just above the unchanged line, retracing most of its early gains. The Nikkei 225 Index opened higher but declined steadily in the morning. After moving sideways till late afternoon trading, the index pulled back sharply, closing up merely 9.09 points or 0.06 percent at 15,576. Most export and financial stocks ended higher, but pharma, chemical and food stocks came under selling pressure. Australia's All Ordinaries Index hovered in positive territory throughout the session before ending 89.40 points or 1.71 percent higher at 5,310. Energy, healthcare, industrial and utility stocks moved notably to the upside. Hong Kong's Hang Seng Index closed at 20,794, up 358.25 points or 1.75 percent, but China's Shanghai Composite Index lost 1.99 points or 0.07 percent before ending at 2,930. On the economic front, a preliminary report released by Japan's Ministry of Economy, Trade and Industry showed that industrial production in Japan fell 2.3 percent month-over-month in May. Economists expected a 0.2 percent increase. Annually, industrial output fell 0.1 percent, belying expectations for a 1.9 percent increase. Private sector credit in Australia rose 0.4 percent month-over-month in May, according to data released by the Reserve Bank of Australia. Economists expected a 0.5 percent increase. Annually, credit rose a less than expected 6.5 percent. Europe European stocks look jaded after the 2-day run up that followed the post-Brexit sell-off. After opening higher, the major averages have turned mixed. In major corporate news, Anheuser-Busch InBev announced that the Competition Tribunal of South Africa has approved its proposed combination with SABMiller. With this, the company has now obtained approval in 16 jurisdictions. On the economic front, a flash estimate released by Eurostat showed that annual HICP inflation in the eurozone was at 0.1 percent compared to expectations for 0 percent. Core inflation was at 0.9 percent compared to expectations for 0.8 percent. The German Federal Statistical Office reported that retail sales rose for the first time in three months in May, rising 0.9 percent month-over-month following a 0.3 percent drop in April. Economists expected a 0.6 percent increase. A report released by the German Federal Labor Agency showed that the number of unemployed individuals fell more than expected in June. The metric fell by 6,000, while economists expected a more modest 5,000-drop. The jobless rate held steady at 6.1 percent, the lowest since German reunification. A separate report released by the German Federal Statistical Office showed that the jobless rate for Germany fell to 4.2 percent in May from 4.3 percent in April. The number of unemployed people eased slightly. Revised estimates released by the U.K. Office for National Statistics confirmed first quarter sequential growth by the U.K. economy at 0.4 percent. In the fourth quarter of 2015, the economy expanded 0.7 percent. Annually, GDP was up 2 percent. U.S. Economic Reports Reflecting a rebound from a nearly two-month low, the Labor Department released a report showing that first-time claims for U.S. unemployment benefits rose by a little more than expected in the week ended June 25th. The report said initial jobless claims rose to 268,000, an increase of 10,000 from the previous week's revised level of 258,000. Economists had expected jobless claims to edge up to 266,000 from the 259,000 originally reported for the previous week. At 9:45 am ET, MNI Indicators is scheduled to release the results of its Chicago business survey. The consensus estimate calls for an increase by the business barometer to 50.5 in June from 49.3 in May. The Chicago business barometer fell to 49.3 in May from 50.4 in April, while economists expected a reading of 50.7. New orders, order backlogs, production and inventories were all in contraction. St. Louis Federal Reserve Bank President James Bullard is set to speak to the Society of Business Economists annual dinner in London at 2 pm ET. Stocks in Focus
ConAgra (CAG) reported in line fourth quarter adjusted earnings per share from continuing operations and net sales were shy of estimates.The company plans to separate into two independent pure play companies, Conagra Brands and Lamb Weston.
Darden Restaurants' (DRI) fourth quarter adjusted earnings per share were above-consensus estimates but its revenues missed estimates. The company also raised its dividend. Pier 1 Imports (PIR) reported a wider than expected loss for its first quarter. The company's second quarter and full year guidance was also weak. The Federal Reserve's bank stress test results revealed that 31 of the 33 big institutions cleared the tests, paving the way for them to boost dividends and buybacks. The U.S. units of Banco Santander and Deutsche Bank failed, as the Fed was concerned about their ability to measure risks. Standard & Poor's announced that Alliant Energy (LNT) will join the S&P 500 Index, replacing AGL Resources (GAS). S&P SmallCap 600 constituent Southwest Gas (SWX) will replace Alliant Energy in the S&P MidCap 400 Index, and Shutterstock (SSTK) will replace Southwest Gas in the S&P SmallCap 600 Index. All the changes are effective June 30th. S&P 100 and 500 constituent Southern Company (SO) is set to acquire AGL Resources.
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December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.