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Wall Street Might Open Slightly Positive

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The market awaits the weekly Jobless claims and International Trade Report to be released on Thursday. A slew of Federal Executive speeches are also scheduled for the day. The initial trading on the U.S. Futures Index points to a slightly higher opening for Wall Street. Asian shares closed mostly higher, while European shares are trading on a negative note.

As of 7 am ET, the Dow futures were adding 5.00 points, the S&P 500 futures were up 0.50 points and the Nasdaq 100 futures were improving 5.00 points.

U.S. stocks closed modestly higher on Wednesday. The Dow edged up 19.97 points or 0.1 percent to 22,661.64, the Nasdaq crept up 2.91 points or less than a tenth of a percent to 6,534.63 and the S&P 500 inched up 3.16 points or 0.1 percent to 2,537.74

On the economic front, the Challenger Job-Cut Report for September will be released at 7.30 am ET. In the prior month, the announced layoffs were 33,825.

The Commerce Department's monthly International Trade Report for August will be published at 8.30 am ET. The economists are looking for consensus of a deficit of $42.5 billion, compared to a deficit of $43.7 billion in July.

The Labor Department's weekly Jobless Claims is expected at 8.30 am ET. The consensus is for 265K, slightly down from 272K in the prior week.

Federal Reserve Governor Jerome Powell will speak on Treasury Markets and the TMPG at TMPG Best Practices: A Look Back and a Look Ahead in New York, with audience Q&A at 9.10 am ET.

San Francisco Federal Reserve Bank President John Williams will deliver the morning keynote address at the Community Banking in he 21st Century Conference in St. Louis at 9.15 am ET.

Philadelphia Federal Reserve Bank President Patrick Harker is scheduled to speak at Investing in America's Workforce Capstone Conference in Austin, with audience Q&A at 9.30 am ET.

Kansas City Federal Reserve Bank President Esther George will speak at Investing in America's Workforce Capstone Conference in Austin at 4.30 pm ET.

The Commerce Department's Factory Orders for August will be published at 10.00 am ET. The forecasters are looking for a growth of 1 Percent, while it declined 3.3 percent in the prior month.

The Energy Information Administration's Natural Gas Report for the week is expected at 10.30 am ET. In the previous week the natural gas stock were 58 bcf.

The 52-week, 3-year and 10-year Treasury Note auctions will be held at 11.00 am ET. The 30-year Bond auctions also will be held at 11.00 am ET.

The Treasury's Separate Trading of Registered Interest and Principal of Securities or STRIPS report will be published at 3.00 am ET.

The Fed Balance Sheet report for the week will be revealed at 4.30 pm ET. In the prior week, the level was at $4.456 trillion.

The Fed's Money Supply for the week for the released at 4.30 pm ET. The M2 weekly change was a deficity of $13.8 billion.

In the corporate sector, Deutz AG announced the company has acquired its long-standing Italian dealer IML Motori. The subsidiary IML Service and the Romanian sales and service company IML Motoare also form part of the acquisition. The company is to trade in Italy under the name DEUTZ Italy.

Asian stocks closed mostly up on Thursday. China's Shanghai composite Index edged up 0.70 points or 0.01 percent to close at 5720.30. Hang Seng of Hong Kong closed 205.97 points or 0.73 percent at 28,379.18.

Japanese shares ended little changed near two-year highs. The Nikkei average closed marginally higher at 20,628.56 while the broader Topix index slid 2 points to finish at 1,682.49.

Australian shares gave up early gains to end on a flat note. The benchmark S&P/ASX 200 index and the broader All Ordinaries index closed narrowly mixed as banking energy stocks succumbed to selling pressure, offsetting gains in the mining sector.

European shares are trading mostly lower. CAC 40 of France is down 3.19 points or 0.06 percent. DAX of Germany is declining 29.58 points or 0.23 percent. FTSE 100 of England is climbing 12.32 points or 0.17 percent. Swiss Market Index is dropping 31.37 points or 0.34 percent. Euro Stoxx Index 50, that provides a Blue-chip representation of supersector leaders in the Eurozone is progressing 0.02 percent.

by RTT Staff Writer

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