Futures Suggests Wall Street To Open In Negative

wallstreet sept12 18may22 lt

Reaction to reports on initial jobless claims, existing home sales, and leading economic indicators might get special attention on Thursday.

Early trends on the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares were down broadly at the close, while European shares are declining.

As of 7.45 am ET, the Dow futures were down 275.00 points, the S&P 500 futures were declining 35.00 points and the Nasdaq 100 futures were tumbling 114.25 points.

The U.S. major averages finished near their worst levels on Wednesday. The Dow plunged 1,164.52 points or 3.6 percent to 31,490.07, the Nasdaq plummeted 566.37 points or 4.7 percent to 11,418.15 and the S&P 500 tumbled 165.17 points or 4 percent to 3,923.68.

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 197K, while it was up 203K in the prior week.

The Philadelphia Fed Manufacturing Index for May will be published at 8.30 am ET.

National Association of Realtors' Existing Home Sales for April is scheduled at 10.00 am ET. The consensus is 5.66 million, while it was up 5.77 million last 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 up at 10.30 am ET.
Fed Balance Sheet for the week will be published at 4.30 pm ET. In the prior week, the level was up $8.942 trillion.

Ten-year Treasury Inflation Protected Securities or TIPS auction will be held at 1.00 pm ET.

Asian stocks were lower at closing on Thursday. Chinese were slightly up. The benchmark Shanghai Composite index rose 0.36 percent to 3,096.96. Hong Kong's Hang Seng index plunged 2.54 percent to 20,120.68.

Japanese shares were declining at the end of the session. The Nikkei average fell 1.89 percent to 26,402.84.

Australian markets gave up the last three days of gains. The benchmark S&P/ASX 200 index fell 1.65 percent to 7,064.50 while the broader All Ordinaries index closed 1.66 percent lower at 7,303.30.

European shares are trading lower. CAC 40 of France is losing 107.33 points or 1.69 percent. DAX of Germany is down 225.43 points or 1.62 percent. FTSE 100 of England is declining 158.17 points or 2.12 percent. Swiss Market Index is sliding 301.93 points or 2.58 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.94 percent.

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