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Wall Street Poised To Open Lower

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The Labor Department reports, especially Jobless Claims and Producer Price Inflation reported might get special focus on Thursday.

Early cues from the U.S. Futures Index suggest that Wall Street might open lower at the open.

As of 7.35 am ET, the Dow futures were down 120.00 points, the S&P 500 futures were declining 23.75 points and the Nasdaq 100 futures were declining 129.25 points.

The U.S. major averages ended sharply lower on Thursday. The Dow slumped 326.63 points or 1 percent to 31,834.11, the Nasdaq plunged 373.44 points or 3.2 percent to 11,364.24 and the S&P 500 tumbled 65.87 points or 1.7 percent to 3,935.18.

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 190K, while it was up 200K in the prior week.

The Labor Department's Producer Price Index or PPI Final Demand for April will be published at 8.30 am ET. The PPI - FD consensus is for growth of 0.5 percent, while it was up 1.4 percent in the prior month.

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 77 bcf.

Ten-year Treasury Inflation-protected Securities or TIPS auction will be held at 11.00 am ET. Twenty-year Treasury bond auction will be held at 11.00 am ET.

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

The Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was $8.940 trillion.

San Francisco Federal Reserve Bank President Mary Daly will participate in a fireside chat moderated by former San Francisco Fed Seattle Branch Director Sophie Minich at 4.00 pm ET.

Asian stocks tumbled on Thursday. Chinese shares ended slightly lower. The benchmark Shanghai Composite index slid 0.12 percent to 3,054.99.

Hong Kong's Hang Seng index finished 2.24 percent lower at 19,380.34.

Japan's Nikkei index fell 1.77 percent to 25,748.72.

Australian markets hit a five-month low, hit by losses in the technology sector.

New Zealand's benchmark S&P/NZX 50 index dipped half a percent to 11,177.36.

European shares are trading lower. CAC 40 of France is down 147.00 points or 2.34 percent. DAX of Germany is declining 264.72 points or 1.19 percent. FTSE 100 of England is sliding 145.90 points or 1.99 percent. Swiss Market Index is losing 186.07 points or 1.61 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 2.05 percent.

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