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Wall Street Aims To Open In The Red


Jobless Claims for the week and New Home Sales for April will be the highlights on Thursday.

Asian shares finished lower, while European shares are trading lower.

Initial cues from the U.S. Futures point Wall Street to open in a negative territory. Analysts are closely watching the U.S.-China tariff scenario.

As of 8.05 am ET, the Dow futures were losing 225 points, the S&P 500 futures were down 24.25 points and the Nasdaq 100 futures were falling 86.50 points.

The U.S. major averages ended Wednesday's session in the red. The Dow slid 100.72 points or 0.4 percent to 25,776.61, the Nasdaq fell 34.88 points or 0.5 percent to 7,750.84 and the S&P 500 dipped 8.09 points or 0.3 percent to 2,856.27.

On the economic front, the Labor Department's Jobless Claims for the week will be issued at 8.30 am ET. The economists are looking for consensus of 215K while it was 212K in the previous week.

The flash Composite Purchasing Managers' Index or PMI for May will be published at 9.45 am ET. The consensus is for an increase of 52.4, versus 52.8 in the prior month.

U.S. Commerce Department and the U.S. Department of Housing and Urban Development's New Home Sales for April will be published at 10.00 am ET. The consensus is for 680K, down from 692K in the previous month.

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 change was up 106 bcf.

Dallas Federal Reserve Bank President Robert Kaplan will participate in a moderated Q&A with Tom Barkin, Raphael Bostic, and Mary Daly at the "Technology-Enabled Disruption: Implications for Business, Labor Markets and Monetary Policy" conference in Dallas, TX, with audience Q&A at 1.00 pm ET.

10-year Treasury inflation-indexed securities or TIPS auction will be held at 1.00 pm ET.

The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the previous week, the level was $3.865 trillion.

The Fed Money Supply for week is scheduled at 4.30 pm ET. The M2 weekly change was a deficit of $10.6 billion.

Asian stocks ended broadly lower on Thursday. China's Shanghai Composite index fell 39.19 points or 1.36 percent to 2,852.52 and Hong Kong's Hang Seng index fell as much as 1.58 percent to 27,267.13.

Japanese shares ended notably lower. The Nikkei average dropped 132.23 points or 0.62 percent to 21,151.14 while the broader Topix index closed 0.36 percent lower at 1,540.58.

Australian markets declined on fears of a protracted U.S.-China trade war. The benchmark S&P/ASX 200 dropped 18.90 points or 0.29 percent to 6,491.80 while the broader All Ordinaries ended down 13.80 points or 0.21 percent at 6,584.30.

European shares are trading lower. CAC 40 of France is down 81.81 points or 1.52 percent. DAX of Germany is lower by 183.91 points or 1.51 percent. FTSE 100 of England is losing 88.50 points or 1.21 percent. Swiss Market Index is down 47.67 points or 0.49 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.45 percent.

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