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Wall Street Set To Open Broadly Up

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Trading on Thursday may be impacted by reaction to the weekly jobless claims report. Federal Reserve Chair Jerome Powell's speech at 12.30 pm also might get special attention.

Asian shares finished broadly higher, while European shares are trading down.
Initial cues from the U.S. Futures Index suggest that Wall Street might open broadly higher.

As of 7.35 am ET, the Dow futures were adding 75.00 points, the S&P 500 futures were down 5.25 points and the Nasdaq 100 futures were down 3.75 points.

The U.S. Indices closed higher on Wednesday. The Nasdaq climbed 56.52 points or 0.4 percent to 13,128.95 and the S&P 500 rose 8.65 points or 0.2 percent to 3,809.84.
Meanwhile, the Dow spent the day lingering near the unchanged line before closing 8.22 points or less than a tenth of a percent at 13,128.95.

On the economic front, the Labor Department's Jobless Claims for the week will be released at 8.30 am ET. The consensus is for 790K, while it was up 787K in the prior week.

Import and Export Prices for December will be issued at 8.30 am ET. The consensus for Import Prices is for 0.6 percent, compared to 0.1 percent in the previous week. The consensus for export prices is 0.4 percent.

The Energy Information Administration or EIA's Natural Gas Report for the week will be revealed at 10.30 am ET. In the prior week, the Gas stock was down 130 bcf.

Ten-year Treasury Inflation-Protected Securities or TIPS and 20-year Treasury Bond will be announced at 11.00 am ET.

Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was at $7335 trillion.

The Money Supply for the week is expected at 4.30 pm ET. In the prior week, the M2 Money Supply was a deficit of $125.1 billion.

Boston Federal Reserve Bank President Eric Rosengren to speak before virtual Boston Business Journal "Recover Boston: The Road Ahead - Economic Issues in 2021," via Zoom at 9.00 am ET.

Atlanta Federal Reserve Bank President Raphael Bostic will moderate "Small Business Recovery" panel and gives closing remarks before the virtual Inclusive Recovery Series event at 11.00 am ET.

Federal Reserve Chairman Jerome Powell participates in conversation before virtual event hosted by the Princeton University Bendheim Center for Finance at 12.30 pm ET.

Dallas Federal Reserve Bank President Robert Kaplan to participate in a moderated question-and-answer session before virtual 2021 Texas McCombs Business Outlook Series hosted by the University of Texas at Austin at 1.00 pm ET.

Asian stocks ended mostly higher on Thursday as investors looked past the impeachment of U.S. President Donald Trump. Chinese shares fell on profit-taking. The benchmark Shanghai Composite index ended down 32.75 points, or 0.91 percent, at 3,565.90, while Hong Kong's Hang Seng index rose 0.93 percent, to 28,496.86.

Chinese exports grew 18.1 percent on a yearly basis in December, faster than the expected growth of 15.0 percent. Nonetheless, the rate of increase slowed from 21.1 percent posted in November.

Imports growth advanced to 6.5 percent from 4.5 percent a month ago. The trade surplus increased to $78.17 billion from $75.4 billion in the previous month. Economists had forecast the surplus to fall to $72.4 billion.

Japanese shares rose and closed at a fresh 30-year high. The Nikkei average inched up 241.67 points, or 0.85 percent, to 28,698.26, marking its highest closing level since Aug. 3, 1990. The broader Topix index closed 0.48 percent higher at 1,873.28.

Australian markets eked out modest gains ahead of U.S. stimulus unveiling. The benchmark S&P/ASX 200 index rose 28.70 points, or 0.43 percent, to 6,715.30, while the broader All Ordinaries index ended up 28.80 points, or 0.41 percent, at 6,982.70.

European shares are trading higher. Among the major indexes in the region, the German DAX is adding 25.06 points or 0.18 percent, the U.K. FTSE 100 Index is gaining 46.15 points or 0.68 percent.

The Swiss Market Index is declining 0.80 points or 0.01 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.33 percent.

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