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Wall Street Might Open Broadly Down; Earnings On Focus

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Earnings reports as well as economic announcements will be the highlights on Thursday. Early signs from the U.S. Futures Index suggest that Wall Street might open broadly down.

IBM Corp. (IBM), Netflix (NFLX) and Tesla (TSLA) have scheduled their quarterly results today after the bell.

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

As of 7.30 am ET, the Dow futures were up 36.00 points, the S&P 500 futures were declining 8.25 points and the Nasdaq 100 futures were sliding 115.00 points.

The U.S. major averages all closed in positive territory on Wednesday. The tech-heavy Nasdaq inched up just 4.38 points or less than a tenth of a percent to 14,358.02. The Dow climbed 109.28 points or 0.3 percent to 35,061.21 and the S&P 500 rose 10.74 points or 0.2 percent to 4,565.72.

On the economic front, the Philadelphia Fed Manufacturing Index for July will be issued at 8.30 am ET. The consensus is for a decline of 10.2, while it was down 13.7 in the prior month.

The Labor Department's Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is for 241K, while it was up 237K in the prior week.

The Existing Home Sales for June will be released at 10.00 am ET. The consensus is for 4.230 million, while it was up 4.30 million in May.

The Conference Board's Leading Indicators for June is scheduled at 10.00 am ET. The consensus is for a decline of 0.6 percent, while it was down 0.7 percent in the previous month.

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 49 bcf.

Two-year floating rate note or FRN, 5-year treasury note announcement and 7-year treasury note announcements will be held at 11.00 am ET.

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

The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the prior week, the level was up $8.297 trillion.

Asian markets finished lower. At the close, China's Shanghai Composite Index was down 0.92 percent at 3,169.52. The Hang Seng Index of the Hong Kong Stock Exchange closed trading at 18,924.06.

The Japanese benchmark Nikkei 225 shed 431 points or 1.31 percent to end trading at 32,465.00.

Australia's S&P/ASX200 closed at 7,325.00 edging up 0.02 percent. The day's trading range was between 7,322.90 and 7,383.30.

European shares are trading positive. CAC 40 of France is climbing 28.46 points or 0.39 percent. DAX of Germany is adding 37.49 points or 0.23 percent. FTSE 100 of England is progressing 47.48 points or 0.63 percent. The Swiss Market Index is up 26.21 points or 0.24 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.29 percent.

For comments and feedback contact: editorial@rttnews.com

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