Futures Point To Broadly Lower Open

Fed Chairman Jerome Powell's remarks on Thursday might be important on the day. The European Central Bank's monetary policy decision as well as the report on weekly jobless claims also will get special attention.

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

Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower.

As of 7.45 am ET, the Dow futures were up 7.00 points, the S&P 500 futures were declining 1.50 points and the Nasdaq 100 futures were sliding 15.75 points.

The U.S. major averages finished higher on Wednesday's session. The Dow jumped 435.98 points or 1.4 percent to 31,581.28, the Nasdaq soared 246.99 points or 2.1 percent to 11,791.90 and the S&P 500 surged 71.68 points or 1.8 percent to 3,979.87.

On the economic front, the Labor Department's Jobless Claims for the week will be released at 8.30 am ET. The consensus is 240K, while it was up 232K in the previous week.

The Census Bureau's Quarterly Services Survey for the second quarter will be published at 10.00 am ET. In the prior quarter selected services revenue were up 2.2 percent.

The Energy Information Administration or EIA's Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the gas stock was up 61 bcf. EIA's Petroleum Status Report for the week will be released at 11.00 am ET. In the previous week, the crude oil inventories were down 3.3 million barrels. Gasoline inventories were down 1.2 million barrels.

The Fed's Consumer Credit for July will be revealed at 3.00 pm ET. The consensus is $33.0 billion, while it was up $40.1 billion.

The Fed Balance Sheet for the week is issued at 4.30 pm ET. In the prior week, the level was at $8.826 trillion.

Federal Reserve Chairman Jerome Powell will participate in a discussion before the virtual Cato Institute 40th Annual Monetary Conference: The State of Monetary Policy After 40 Years at 9.10 am ET.

Chicago Federal Reserve Bank President Charles Evans to speak on current economic conditions or monetary policy before the College of DuPage Economic Forum at 12.00 pm ET.

Asian stocks finished mixed on Thursday. Chinese and Hong Kong stocks ended lower.
China's Shanghai Composite index slipped 0.33 percent to 3,235.59. Hong Kong's Hang Seng index ended 1 percent lower at 18,854.62.

Japanese shares ended at a one-week high. The Nikkei average soared 2.31 percent to 28,065.28, marking its biggest single-day gain in four weeks and the highest closing level since Aug. 31. The broader Topix index closed 2.19 percent higher at 1,957.62, snapping a six-session losing streak.

Australian markets rose the most in 10 weeks. The benchmark S&P/ASX 200 index climbed 1.77 percent to 6,848.70. The broader All Ordinaries index ended 1.81 percent higher at 7,085.30.

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