Markets

US Futures Rise Ahead of Data, US and China Resume Trade Talks

US stock futures pointed to moderate gains on Thursday following news that the US and China are pursuing trade talks and ahead of a raft of readings on the US economy.

Oil prices were trading from flat to moderate gains with global benchmark Brent Crude up 0.70%, while US crude West Texas Intermediate was up 0.3% as Russia curtailed its production during the first two weeks of November.

At 8:30 am, data are expected to show new unemployment claims steady at 214,000 in the Nov. 10 week. Forecasters see the Philadelphia Fed general business conditions index slightly easing to 20.0 in November following a stronger-than-expected 22.2 in the October report. Retail sales are seen rising a solid 0.5% for October. The Empire State manufacturing survey is seen coming in at 20.0 for the month vs October's 21.1. Both import and export prices are seen inching 0.1% higher in October, according to data compiled by Econoday.

At 10 am, forecasters see a moderate 0.3% rise in business inventories for September.

Federal Reserve Chair Jerome Powell is scheduled to speak in Houston.

In equities, shares of uniQure ( QURE ) were 31% higher pre-bell after the biopharmaceutical company reported that all patients in its phase 2b trial of AMT-061 in hemophilia B achieved and sustained therapeutic Factor IX activity at six weeks.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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