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Wall Street To Open Moderately Lower

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Jobless Claims for the week, Philadelphia Fed Business Outlook Survey report, The Producer Price Index or PPI-FD for July are the major highlights on Thursday.

Initial signs from the U.S. Futures Index suggest that Wall Street might open lower.

Investors are keeping an eye on U.S.-China tariff trade tension.

Asian shares finished broadly higher, while European shares are trading in the red.

As of 7.45 am ET, the Dow futures were losing 24 points, the S&P 500 futures were down 1.00 points and the Nasdaq 100 futures were falling 8.50 points.

U.S. stocks closed lower on Wednesday. The Dow fell 115.78 points or 0.4 percent to 27,219.85, the Nasdaq dropped 37.59 points or 0.5 percent to 8,185.21 and the S&P 500 slid 19.62 points or 0.7 percent to 2,984.42.

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 209K in the previous week.

Philadelphia Fed Business Outlook Survey report for February will be released at 8.30 am ET. The consensus is for 4.5, up from 0.3 in the previous month.

The Producer Price Index or PPI-FD for July will be issued at 8.30 am ET. The consensus is for an increase of 14.0 percent, while grew 17.0 percent in the prior month.

The Conference Board's Leading Indicators for June will be published at 10.00 am ET. The consensus is for an increase of 0.1 percent, while it was unchanged in the prior month.

The Energy Information Administration or EIA's Natural Gas Report for the week will be released at 10.30 am ET. In the prior week, the change was a decline of 81 bcf.

EIA's Petroleum Status Report for the week will be revealed at 11.00 am ET. In the previous week, the crude oil inventories were up 3.6 million barrels and Gasoline were up 0.4 million barrels.

Two -year, five year and seven-year Treasury Note auction will be held at 11.00 am ET. The 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 $3.815 trillion.

The Fed Money Supply for the week is scheduled at 4.30 pm ET. The M2 weekly change was a deficit of $46 billion.

New York Federal Reserve Bank President John Williams will give the Keynote Address on Monetary Policy at the 2019 Annual Meeting of the Central Bank Research Association in New York, with audience Q&A at 2.15 pm ET.

Asian stocks fell on Thursday. Chinese shares fell on fears over slowing growth and the impact of the trade dispute with the United States. The benchmark Shanghai Composite index shed 30.52 points or 1.04 percent to 2,901.18 while Hong Kong's Hang Seng index ended down 0.46 percent at 28,461.66.
Japanese shares saw their worst single-day loss in nearly four months. The Nikkei average tumbled 422.94 points or 1.97 percent to 21,046.24. The broader Topix index closed 2.11 percent lower at 1,534.27.
Australian shares ended lower. The benchmark S&P/ASX 200 dropped 24.20 points or 0.36 percent to 6,649.10 while the broader All Ordinaries index ended down 28.60 points or 0.42 percent at 6,735.40.

European shares are trading broadly higher. France's CAC 40 is adding 6.06 points or 0.11 percent. Germany's DAX is down 60.83 points or 0.49 percent. FTSE 100 of U.K. is lowering by 31.00 points or 0.43 percent. Swiss Market Index is up 87.14 points or 0.88 percent.

Eurozone's leading Blue Chip index, Euro Stoxx 50, is declining 0.15 percent.

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