Wall Street To Open Lower Ahead Of Jobless Claims

The Labor Department’s Jobless Claims and Labor Productivity report might be the focus on Thursday. Earnings reports also might special attention.

Early trends on the U.S. Futures Index point to a lower open for Wall Street.
Asian shares finished mostly higher, while European shares are trading higher.

As of 7.40 am ET, the Dow futures were losing 154.00 points, the S&P 500 futures were down 27.50 points and the Nasdaq 100 futures were declining 111.25 points.

The U.S. major averages finished Wednesday’s session higher. The Dow jumped 932.27 points or 2.8 percent to 34,061.06, the Nasdaq surged 401.10 points or 3.2 percent to 12,964.86 and the S&P 500 spiked 124.69 points or 3 percent at 4,300.17.

On the economic front, the Labor Department’s Jobless Claims for the week will be published at 8.30 am ET. The consensus is for 178k, while it was up 180k in the previous week.

The Labor Department’s Productivity and Costs for the first quarter will be released at 8.30 am ET. The consensus for non-farm productivity is negative 2.5 percent, while it was positive 6.6 percent in the prior quarter. The Annual Unit Labor Costs is expected to increase 6.8 percent.

The Energy Information Administration or EIA’s Natural Gas Report for the week is expected at 10.30 am ET. In the prior week, the gas stock was up 40 bcf.

The Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was at $8.939 trillion.

Asian stocks finished broadly higher on Thursday. China’s Shanghai Composite index rose 0.68 percent to 3,067.76.

Japan market was closed for a public holiday.

Hong Kong’s Hang Seng index ended 0.36 percent lower at 20,793.40.

Australia’s ASX 200 climbed 0.82 percent to 7,364.70.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is gaining 116.04 points or 1.81 percent. The German DAX is progressing 208.08 points or 1.51 percent, the U.K. FTSE 100 Index is up 95.60 points or 1.28 percent.

The Swiss Market Index is gaining 108.14 points or 0.91 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.55 percent.

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