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Wall Street Pointing To Lower Opening


Jobless claims for the week is projected to be slightly up from the prior week and the details will be announced on Thursday morning. Federal Balance Sheet and EIA's natural gas report are the other important announcements for the day.

Morning trends from the U.S. Futures Index suggest that Wall Street might open mostly lower. Asians shares finished mixed, while European shares are trading in the red.

As of 6.30 am ET, the Dow futures were slipping 63 points, the S&P 500 futures were shedding 6.75 points and the Nasdaq 100 futures were adding 0.50 points.

U.S. stocks closed lower on Wednesday. The Dow slid 0.1 percent, the S&P 500 dropped half a percent and the tech-heavy Nasdaq Composite shed 0.9 percent.

On the economic front, the Labor Department's Jobless Claims for the week is expected at 8.30 am ET. The economic analysts are looking for consensus of 235K, up from 230K in the previous week.

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 report recorded a deficit of 99 bcf.

Federal Balance Sheet for the week is expected at 4.30 pm ET. The prior week level was $4.419 trillion.

The Fed's Money supply for the week is scheduled at 4.30 pm ET. The M2 weekly change was $10.9 billion.

The 30-year Bond auction will be held at 4.30 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker will speak at the National Association of College and University Business Officers 2018 Endowment and Debt Management Forum in New York, with audience and media Q&A at 8.00 am ET.

Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a moderated Q&A session in Pierre, South Dakota, with audience Q&A at 9.00 am ET.

Kansas City Federal Reserve Bank President Esther George to discuss the economic outlook at the "Wichita Independent Business Association 2018 Annual Meeting" in Wichita, Kansas, with audience Q&A at 9.00 pm ET.

In the corporate sector, T-Mobile US Inc. (TMUS) revealed earnings for its fourth quarter that climbed compared to the same period last year. The bottom line rose to $2.71 billion, or $3.11 per share, up from $390 million, or $0.45 per share, in last year's fourth quarter. Revenue for the quarter rose 5.2 percent to $10.76 billion, compared to $10.23 billion a year ago.

The company said it expects postpaid net customer additions between 2.0 and 3.0 million. Adjusted EBITDA for the year is expected to be between $11.3 billion and $11.7 billion. Adjusted EBITDA target includes leasing revenues of $0.6 billion to $0.7 billion.

Sanofi SA announced that it commenced a tender offer on Wednesday to acquire all of the outstanding shares of common stock of Bioverativ, Inc. for $105 per share in cash, without interest thereon and net of any required tax withholding.

Asian stocks closed mostly higher on Thursday. Chinese shares fell for a third day. China's Shanghai Composite index tumbled 47.21 points or 1.43 percent to 3,262.05 while Hong Kong's Hang Seng index closed up 128.07 points or 0.42 percent at 30,451.27.

Japanese shares rose sharply. The Nikkei average rallied 245.49 points or 1.13 percent to finish at 21,890.86 while the broader Topix index closed 0.90 percent higher at 1,765.69.

Australian shares ended modestly higher. The benchmark S&P ASX 200 rose 13.90 points or 0.24 percent to 5,890.70 while the broader All Ordinaries index ended up 13.70 points or 0.23 percent at 5,995.20.

European shares are trading lower. The CAC 40 of France is down 46.49 points or 0.88 percent. DAX of Germany is declining 150.37 points or 1.19 percent. FTSE 100 of England is down 61.71 points or 0.86 percent. Swiss Market Index is slipping 59.21 points or 0.66 percent.

Euro Stoxx 50, that provides a Blue-chip representation of supersector leaders in the Eurozone, is currently down 1.14 percent.

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