Plus   Neg

Wall Street Might Open Higher

wallstreet oct17 lt

Jobless Claims, Housing Starts and Industrial production reports might be impacting investors' sentiments on Thursday. Earnings reports and geopolitical changes are also closely monitored.

Asian shares closed mixed, while European shares are trading higher.

Initial cues from the U.S. Futures point Wall Street to open in positive territory.

As of 7.50 am ET, the Dow futures were gaining 98.00 points, the S&P 500 futures were adding 12.00 points and the Nasdaq 100 futures were up 37.00 points.

The U.S. major averages finished modestly lower on Wednesday. The Dow edged down 22.82 points or 0.1 percent to 27,001.98, the Nasdaq dipped 24.52 points or 0.3 percent to 8,124.18 and the S&P 500 slipped 5.99 points or 0.2 percent to 2,989.69.

On the economic front, the Housing Starts data for September will be issued at 8.30 am ET. The Starts consensus is for an increase of 1.300 million, while it was up 1.364 million in the prior month. Permits are projected to up by 1.335 million, lower than 1.419 million recorded in the prior month.

The Labor Department's Jobless Claims for the week will be revealed at 8.30 am ET. In the prior week, new claims were 210K.

Philadelphia Fed Business Outlook Survey report for October will be released at 8.30 am ET. The consensus for general business condition index is 7.1, down from 12.0 in the previous month.

Fed's Industrial Production report for September will be released at 9.15 am ET. The consensus is for a decline of 0.2 percent, while it climbed 0.6 percent in the prior 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 98 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 2.9 million barrels and Gasoline were down 1.2 million barrels.

Two -year, five-year and seven-year Treasury Note auction will be held at 11.00 am ET. The five-year Treasury inflation-indexed securities or TIPS auction will be held at 1.00 pm ET.

Federal Reserve Member of the Board of Governors Michelle Bowman will speak at the FedListens conference on "Monetary Policy's Impact on Workers and Their Communities" in Chicago, Illinois at 2.00 pm ET.

Chicago Federal Reserve Bank President Charles Evans will speak at the "Fed Listens: Monetary Policy's Impact on Workers and Their Communities" event in Chicago, Illinois at 2.00 pm ET.

New York Federal Reserve Bank President John Williams will deliver the keynote address and participate in a moderated discussion at Managed Funds Association Outlook 2019 Conference in New York, NY, with media Q&A 4.20 pm ET.

The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the previous week, the level was $3.950 trillion.

The Fed Money Supply for week is scheduled at 4.30 pm ET. The M2 weekly change was a deficit of $49.9 billion.

In the corporate sector, Morgan Stanley reported third-quarter earnings $2.06 billion, or $1.27 per share, up from $2.02 billion, or $1.17 per share, in the prior year. Revenue for the quarter rose 1.6 percent to $10.03 billion from $9.87 billion last year.

Asian stocks closed mixed on Thursday. Chinese shares ended on a flat note. The benchmark Shanghai Composite index edged down 31.38 points to 2,977.33 while Hong Kong's Hang Seng index gained 0.69 percent to end at 26,848.49.

Japanese shares fell from ten-month highs. The Nikkei average finished marginally lower at 22,451.86 while the broader Topix index closed 0.45 percent lower at 1,624.16.

Australian markets ended lower. The benchmark S&P ASX 200 dropped 51.80 points, or 0.77 percent, to 6,684.70 while the broader All Ordinaries index ended down 51.70 points, or 0.76 percent, at 6,791.50.

European shares are trading higher. CAC 40 of France is adding 3.57 points or 0.06 percent. DAX of Germany is progressing 39.43 points or 0.31 percent. FTSE 100 of England is up 35.06 points or 0.49 percent. Swiss Market Index is progressing 16.28 points or 0.16 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.14 percent.

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