Wall Street Targets To Open On Negative Territory

wallstreet sep09 lt

The weekly jobless claims reports, as well as Fed speeches, might be the focus on Thursday.

In the pre-market hours, the early cues from the U.S. Futures Index suggest that Wall Street might open lower.

Asian shares finished mixed, while European shares are trading lower.

As of 7.50 am ET, the Dow futures were down 34.00 points, the S&P 500 futures were declining 4.75 points and the Nasdaq 100 futures were down 4.00 points.

The U.S. major averages all finished Wednesday in negative territory. The Dow dipped 68.93 points or 0.2 percent to 35,031.07, the Nasdaq slid 87.69 points or 0.6 percent to 15,286.64 and the S&P 500 edged down 5.96 points or 0.1 percent to 4,514.07.

On the economic front, the Labor Department's Jobless Claims for the week will be published at 8.30 am ET. The consensus is for 344K, while it was up 340K in the prior week.

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 gas stock was up 20 bcf. EIA's Petroleum Status report for the week is scheduled at 11.00 pm ET. In the previous week, the Crude oil inventories were down 7.2 million barrels, and the Gasoline inventories were up 1.3 million barrels.

30-year Treasury Bond auction will be held at 1.00 pm ET.

The Fed Balance Sheet for the week will be issued at 4.30 pm ET. In the prior week, the level was at $8.349 trillion.

The Chicago Federal Reserve Bank President Charles Evans will give welcome remarks before the virtual "Exploring Career Pathways in Economic and Related Fields" event presented by the Federal Reserve Bank of Chicago and the Sadie Collective at 11.05 am ET.

San Francisco Federal Reserve Bank President Mary Daly to present paper in "The Economic Gains From Equity" discussion before virtual Brookings Institution Papers on Economic Activity Fall 2021 Conference at 11.05 am ET.

Dallas Federal Reserve Bank President Robert Kaplan will participate in the virtual moderated question-and-answer session, "Next Phase: The Economic Outlook" hosted by Prairie View A&M University College of Business at 12.00 am ET.

Federal Reserve Board Governor Michelle Bowman will speak on "Community Bank Access to Innovation" before virtual American Bankers Association Fall Government Relations Council Meeting at 1.00 pm ET.

Asian stocks fell broadly Thursday. Chinese shares advanced. The benchmark Shanghai Composite index rose 17.94 points, or 0.49 percent, to 3,693.13.

Hong Kong's Hang Seng index plummeted 2.3 percent to 25,716.

Japanese shares ended lower to snap an eight-day winning streak. The Nikkei average retreated from a near six-month high to end down 173.02 points, or 0.57 percent, at 30,008.19. The broader Topix index closed 0.71 percent lower at 2,064.93 after reaching a three-decade closing high of 2,079.61 on Wednesday.

Australian markets tumbled amid mounting worries around growth and inflation. The benchmark S&P/ASX 200 fell 142.50 points, or 1.90 percent, to 7,369.50 as daily infections lingered near-record levels in New South Wales. The broader All Ordinaries index dropped 148.60 points, or 1.90 percent, to finish at 7,658.90.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 19.04 points or 0.29 percent. The German DAX is losing 57.12 points or 0.37 percent, the U.K. FTSE 100 Index is sliding 84.82 points or 1.20 percent.

The Swiss Market Index is losing 81.49 points or 0.68 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.50 percent.

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