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Wall Street Aims For A Rebound At Open

wallstreet aug15 lt

A slew of economic reports, including Jobless Claims, Industrial Production are scheduled on Thursday.

Early signs from the the U.S. Futures Index suggest that Wall Street might be opening positive.

Asian shares finished mixed, while European shares are trading mostly in the red.

As of 8.05 am ET, the Dow futures were adding 144 points, the S&P 500 futures were gaining 17.50 points and the Nasdaq 100 futures were up 42.00 points.

U.S. stocks closed lower on Wednesday. The Dow plummeted 800.49 points or 3.1 percent to 25,479.42, the Nasdaq plummeted 242.42 points or 3 percent to 7,773.94 and the S&P 500 tumbled 85.72 points or 2.9 percent to 2,840.60

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 208K while it was 209K in the previous week.

Philadelphia Fed Business Outlook Survey report for August will be released at 8.30 am ET. The consensus is for 11.1, down from 21.8 in the previous month.

The Commerce Department's Retail Sales for July will be published at 8.30 am ET. The consensus is for an increase of 0.3 percent, while it grew 0.4 percent in the prior month.

The Empire State Manufacturing Survey report for August will be released at 8.30 am ET. The consensus is for increase of 2.5, lower than 4.3 in the previous month.

The Labor Department's Productivity and Costs report for the second quarter will be issued at 8.30 am ET. The consensus for 1.5 percent growth while it grew 3.4 percent in the prior quarter.

Fed's Industrial Production report for July will be released at 9.15 am ET. The consensus is for an increase of 0.1 percent, while it remained unchanged in the prior month.

Business Inventories report for June will be revealed at 10.00 am ET. The consensus is for a rise of 0.1 percent, while in May it grew 0.3 percent.

National Association of Home Builders/Wells Fargo's Housing Market Index for August will be published at 10.00 am ET. The consensus is for 66, while it was 65 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 55 bcf.

Treasury International Capital Data for June will be issued at 4.00 pm ET. In the prior month, the Foreign Demand for Long-Term U.S. Securities were $3.5 billion.

The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the previous week, the level was $3.782 trillion.

The Fed Money Supply for week is scheduled at 4.30 pm ET. The M2 weekly change was $35.7 billion.

Asian stocks ended mixed on Thursday. Chinese shares reversed early losses to close higher. The benchmark Shanghai Composite index inched up 6.88 points or 0.25 percent to 2,815.80 while Hong Kong's Hang Seng index jumped 0.76 percent to close at 25,495.46.

Japanese shares closed lower. The Nikkei average ended down 249.48 points or 1.21 percent at 20,405.65 after hitting as low as 20,184.85, its lowest level since Aug. 6, earlier in the day. The broader Topix index closed 1.04 percent lower at 1,483.85.

Australian shares plunged. The benchmark S&P/ASX 200 index tumbled 187.80 points or 2.85 percent to 6,408.10 amid broad-based selloff. The broader All Ordinaries index ended down 186.70 points or 2.80 percent at 6,490.80.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is climbing 13.09 points or 0.25 percent. The German DAX is giving up 50.51 points or 0.45 percent, the U.K. FTSE 100 Index is losing 78.16 points or 1.09 percent and the Swiss Market Index is declining 14.73 points or 0.14 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.32 percent.

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