Wall Street Targets To Open Slightly Up

wallstreet aug04 lt

Earnings reports of major corporates might be the highlight on Thursday.
Weekly jobless claims and the U.S. trade deficit also will get special attention.
Allstate, Clorox, eBay, Hostess Brands, and MetLife have scheduled their earnings reports on the day.

Asian shares were broadly up at the close, while European shares are trading higher.
As of 7.45 am ET, the Dow futures were up 20.00 points, the S&P 500 futures were adding 4.25 points and the Nasdaq 100 futures were progressing 22.50 points.

The U.S. major averages closed at strong gains on Wednesday. The Nasdaq spiked 319.40 points or 2.6 percent to 12,668.16, the S&P 500 surged 63.98 points or 1.6 percent to 4,155.17 and the Dow jumped 416.33 points or 1.3 percent to 32,812.50.

On the economic front, the Commerce Department's International Trade in Goods and Services for June will be published at 8.30 am ET. The consensus is for a deficit of $81.9 billion, while the prior month's deficit was $85.5 billion.

The Jobless Claims for the week will be released at 8.30 am ET. The consensus is 260K, while it was up 256K in the prior week.

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 15 bcf.

The Fed Balance Sheet for the week will be published at 4.30 am ET. In the prior week, the Level was at $8.890 trillion.

Cleveland Federal Reserve Bank President Loretta Mester will participate in a fireside chat conversation before the Economic Club of Pittsburgh at 12.00 pm ET.

Asian stocks ended mostly higher on Thursday. Chinese shares rose notably. The benchmark Shanghai Composite index climbed 0.80 percent to 3,189.04 while Hong Kong's Hang Seng index jumped 2.06 percent to settle at 20,174.04.

Japanese shares advanced on the day. The Nikkei average gained 0.69 percent to finish at 27,932.20 while the broader Topix index closed marginally lower at 1,930.73.
Australian markets ended on a flat note.

European shares are trading higher. CAC 40 of France is progressing 60.79 points or 0.95 percent. DAX of Germany is adding 157.62 points or 1.17 percent. FTSE 100 of England is progressing 34.26 points or 0.46 percent. Swiss Market Index is up 37.42 points or 0.33 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.94 percent.

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