Markets

Wall Street Aims To Open Lower

(RTTNews) - Jobless Claims, Producer Price Index are getting much attention on Thursday. Investors are following the latest developments in U.S.-China trade deals.

Asian shares finished in the red, while European shares are trading lower.

Initial cues from the U.S. Futures point Wall Street to open in a negative territory.

As of 7.30 am ET, the Dow futures were losing 25 points, the S&P 500 futures were down 2.75 points and the Nasdaq 100 futures were falling 12.00 points.

The U.S. major stocks finished lower on Tuesday. The Nasdaq slid 43.93 points or 0.5 percent to 8,526.73, while the Dow fell 112.93 points or 0.4 percent to 27,821.09 and the S&P 500 dropped 11.72 points or 0.4 percent to 3,108.46.

The Labor Department's Jobless Claims for the week will be issued at 8.30 am ET. The economists are looking for consensus of 225K while it was 239K in the previous week.

Philadelphia Fed Business Outlook Survey report for November will be released at 8.30 am ET. The consensus is for 7.00, up from 5.6 in the in the previous month.

Cleveland Federal Reserve Bank President Loretta Mester will speak at the "2019 Financial Stability Conference: Risks, Resilience, and Policy" event in Cleveland, Ohio, with audience and media Q&A at 8.30 am ET.

The National Association of Realtors' Existing Home Sales Data for October will be published at 10.00 am ET. The consensus is for 5.040 million, up from 4.990 million in December, 2018.

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 change was up 3 bcf.

Two -year FRN, two year treasury Note auction, five year and seven year treasury Note auction will be held at 11.00 am ET.

Ten year Treasury Inflation-Protected securities 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 previous week, the level was $4.048 trillion.

The Fed Money Supply for week is scheduled at 4.30 pm ET. The M2 weekly change was up $25.0 billion.

Asian stocks finished lower on Thursday. Chinese stocks fell to extend losses for the second day.

The benchmark Shanghai Composite index dropped 7.42 points, or 0.25 percent, to 2,903.64 while Hong Kong's Hang Seng index fell 1.57 percent to 26,466.88.

Japanese shares hit three-week low. The Nikkei average slid 109.99 points, or 0.48 percent, to 23,038.58 points, its lowest level since Nov. 1. The broader Topix index closed 0.1 percent lower at 1.689.38.

Australian markets fell notably. The benchmark S&P/ASX 200 index dropped 49.50 points, or 0.74 percent, to 6,672.90 while the broader All Ordinaries index ended down 50.60 points, or 0.74 percent, at 6,777.70.

European shares are trading broadly lower. CAC 40 of France is down 12.47 points or 0.09 percent. DAX of Germany is losing 12.16 points or 0.09 percent. FTSE 100 of England is down 54.54 points or 0.75 percent. Swiss Market Index is declining 33.42 points or 0.32 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.18 percent.

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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