Wall Street To Bounce Back

wallstreet nov01 08feb23 lt

Reaction to the Labor Department's Weekly Jobless Claims and Fed Balance Sheet will be keenly observed by the investors on Thursday.

Earnings also will be a major highlight today.

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

Asian shares finished mostly up, while European shares are trading higher.

As of 7.10 am ET, the Dow futures were up 206.00 points, the S&P 500 futures were adding 29.25 points and the Nasdaq 100 futures were progressing 133.75 points.

The U.S. major averages finished Wednesday's session near their worst levels of the day. The Nasdaq tumbled 203.27 points or 1.7 percent to 11,910.52, the S&P 500 slumped 46.14 points or 1.1 percent to 4,117.86 and the Dow slid 207.68 points or 0.6 percent to 33,939.01.

On the economic front, the Jobless Claims for the week will be released at 8.30 am ET. The consensus is 192k, while it was up 183K in the prior week.

The Energy Information Administration or EIA's Natural Gas Report for the week will be issued at 10.30 am ET. In the prior week, the gas stock was down 151 bcf.

Twenty-year Treasury bond auction will be held at 11.00 am ET. 30-year Treasury Inflation-Protected Securities or TIPS announcement 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 will be held at 4.30 pm ET. In the prior week, the level was at $8.434 trillion.

In the corporate sector, Motorola Solutions, News Corp, and Paypal are expected to report their quarterly results after the bell.

Asian stocks ended on a muted note Thursday. Chinese and Hong Kong markets posted strong gains. China's Shanghai Composite index jumped 1.18 percent to 3,270.38 while Hong Kong's Hang Seng index gained 1.60 percent to settle at 21,624.36, snapping a two-day slide.

Japanese shares finished on a flat note. The Nikkei average ended marginally lower at 27,584.35 while the broader Topix index closed with a positive bias at 1,985.

Australian markets declined. The benchmark S&P/ASX 200 dropped 0.53 percent to 7,490.30 while the broader All Ordinaries index closed 0.58 percent lower at 7,695.80.

European shares are trading higher. CAC 40 of France is gaining 89.94 points or 1.26 percent. DAX of Germany is adding 195.68 points or 1.17 percent. FTSE 100 of England is progressing 58.19 points or 0.74 percent. The Swiss Market Index is up 35.20 points or 0.31 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.35 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT