logo
Plus   Neg
Share
Email

Wall Street Aims To Open Lower

wallstreet may21 lt

Weekly jobless claims report, the Conference Board's Leading Indicators for April, Existing Home Sales report and the Fed weekly reports are the highlights on Thursday.
In the early signs of the U.S. Futures Index point to a lower opening.

Asian shares finished mostly lower, while European shares are trading down.
Total COVID-19 infections are more than 5.11 million, while the total death toll is 330,338. In the U.S. deaths due to the pandemic disease is nearly 95,000, with total infections of 1.59 million.

As of 8.10 am ET, the Dow futures were down 117.00 points, the S&P 500 futures were declining 15.00 points and the Nasdaq 100 futures were losing 38.25 points.

The U.S. major averages finished sharply higher on Wednesday. The Dow jumped 369.04 points or 1.5 percent to 24,575.90, the Nasdaq spiked 190.67 points or 2.1 percent to 9,375.78 and the S&P 500 surged up 48.67 points or 1.7 percent to 2,971.61.

On the economic front, Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 2375K, lower than 2981K recorded in the prior week.

Philadelphia Fed Business Outlook Survey for May will be released at 8.30 am ET. The consensus is for a decline of 41.0, while it declined 56.6 in the prior month.
The flash Composite Purchasing Managers' Index or PMI index for May will be published at 9.45 am ET. The consensus is for 30.2, higher than 27.4 reported in April.

National Association of Realtors' Existing-Home Sales for April will be issued at 10.00 am ET. The consensus is for 4.325 million, while it was 5.270 million in the previous month.

The Conference Board's Leading Indicators for April will be revealed at 10.00 am ET. The consensus is for a decline of 5.9 percent, lower than 6.7 percent 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 103 bcf.
Ten-year Treasury Inflation-Protected Securities or TIPS auction will be held at 1.00 pm ET.

Fed Balance Sheet for the week will be released at 4.30 pm ET. In the prior week, the level was $6.934 trillion.
Fed's Money Supply for the week is scheduled at 4.30 pm ET. The M2 Weekly change was $198.6 billion.


Asian stocks fell broadly on Thursday. China's Shanghai Composite index fell 15.81 points, or 0.55 percent, to 2,867.92 ahead of the country's postponed annual session of its parliament starting the next day. Hong Kong's Hang Seng index dropped 0.49 percent to 24,280.03.

Japanese shares declined after four days of gains. The Nikkei average slid 42.84 points, or 0.21 percent, to 20,552.31, while the broader Topix index closed 0.23 percent lower at 1,491.21.

Australian markets ended lower. The benchmark S&P/ASX 200 index dropped 22.60 points, or 0.41 percent, to 5,550.40, while the broader All Ordinaries index ended down 19.20 points, or 0.34 percent, at 5,660.90.

European shares are trading mostly down. Among the major indexes in the region, the CAC 40 Index of France is falling 43.09 points or 0.96 percent. The German DAX is losing 143.42 points or 1.27 percent, the U.K. FTSE 100 Index is declining 36.35 points or 0.60 percent.

The Swiss Market Index is adding 26.62 points or 0.27 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.10 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT