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Wall Street Targets To Open Markedly Positive

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The Producer Price Inflation in the month of September and the weekly jobless claims report might get special focus on Thursday. A slew of Fed talks also might get special investor attention.

Asian shares finished broadly up, while European shares are trading mostly positive.

Early signs from the U.S. Futures Index suggest that Wall Street might open significantly higher.

As of 7.00 am ET, the Dow futures were up 200.00 points, the S&P 500 futures were adding 28.25 points and the Nasdaq 100 futures were progressing 108.25 points.

The U.S. major averages on Wednesday ended mostly higher. The Dow edged down 0.53 points or less than a tenth of a percent to 34,377.81, the Nasdaq climbed 105.71 points or 0.7 percent to 14,571.64 and the S&P 500 rose 13.15 points or 0.3 percent to 4,363.80. The Nasdaq and the S&P 500 snapped three-session losing streaks.

On the economic front, the Labor Department's Jobless Claims for the week will be revealed at 8.30 am ET. The consensus is for an increase of 320K, while it was up 326K in the previous week.

The Labor Department's Producer Price Index or PPI - Final demand for September will be issued at 8.30 am ET. The consensus is for an increase of 0.5 percent, while it was up 0.7 percent in the previous month.

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 118 bcf.

EIA's Petroleum status report for the week is expected at 11.00 am ET. In the prior week, the crude oil inventories were up 2.3 million barrels, and gasoline inventories were up 3.3 million barrels.

A five-year Treasury Inflation-Protected Securities or TIPS auction will be held at 11.00 am ET, twenty-year Treasury bond announcement will be held at 11.00 am ET.

The Fed's weekly Balance sheet will be issued at 4.30 pm. In the prior week, the level was up $8.464 trillion.

St. Louis Federal Reserve Bank President James Bullard to participate in the introductory exchange of views on the post-COVID monetary and financial environment before Euro 50 Group Webinar: Coping with the Legacy of the COVID-19 Crisis at 8.35 am ET.

Atlanta Federal Reserve Bank President Raphael Bostic to speak and participates in moderated question-and-answer session before virtual Candid Conversations event hosted by the National Black MBA Association at 9.00 am ET. He will also participate in Rebuilding for All panel before the 2021 Global Inclusive Growth Summit presented by the Mastercard Center for Inclusive Growth and the Aspen Institute at 10.00 am ET.

New York Federal Reserve Bank President John Williams to moderate discussion before "Women in the Workforce" event hosted by the Economic Club of New York at 1.00 pm ET.

Richmond Federal Reserve Bank President Thomas Barkin to speak on Talking About Outcomes before the Forecasters Club of New York at 1.00 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker to speak virtually at the Prosperity Caucus at 6.00 pm ET.

Asian stocks rose broadly on Thursday. Chinese shares ended little changed with a negative bias. Hong Kong market was closed on account of National Day.

Japanese shares rose sharply, led by gains in technology stocks. The Nikkei average climbed 410.65 points, or 1.46 percent, to 28,550.93 while the broader Topix index closed 0.67 percent higher at 1,986.97.

Australian markets advanced, driven by gains in the mining and tech sectors. The benchmark S&P/ASX 200 index rose 39.20 points, or 0.54 percent, to 7,311.70 while the broader All Ordinaries index ended up 48.30 points, or 0.64 percent, at 7,620.20.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 61.15 points or 0.93 percent. The German DAX is adding 133.06 points or 0.87 percent, the U.K. FTSE 100 Index is gaining 53.51 points or 0.75 percent.

The Swiss Market Index is declining 13.28 points or 0.10 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.14 percent.

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