Wall Street Might Slip At Open

(RTTNews) - The weekly jobless claims as well as Fed reports might attract the attention of investors.

The spiking of COVID-19 cases across the globe continues to be a concern for the market sentiments.

Initial cues from the U.S. Futures Index suggest that Wall Street might open slightly lower.

Asian shares finished mixed, while European shares are trading mostly down.

Adtran (ADTN), Etsy (ETSY), Hostess Brands (TWNK), Marathon Oil (MRO), MetLife (MET), Rent-A-Center (RCII) and Western Digital (WDC) are the major corporate to release their quarterly results today after the bell.

As of 7.55 am ET, the Dow futures were down 59.00 points, the S&P 500 futures were sliding 8.00 points and the Nasdaq 100 futures were declining 18.75 points.

The U.S. major indices finished higher on Wednesday. The Dow closed 373.05 points or 1.4 percent up at 27,201.52. The Nasdaq climbed 57.23 points or 0.5 percent to 10,998.40 and the S&P 500 advanced 21.26 points or 0.6 percent to a five-month closing high of 3,327.77.

On the economic front, the Labor Department's Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 1442K, while it was 1434K in the prior week.

The Energy Information Administration or EIA's Natural Gas Report for the week will be released at 10.300 am ET. In the prior week, the change was 26 bcf.

The Fed Balance Sheet for the week will be released at 4.30 pm ET. In the previous week, the level was $6.949 trillion.

The Money Supply for the week is scheduled at 4.30 pm ET. In the prior week, the M2 weekly change was down $70.2 billion.

52-week Treasury bill announcement will be at 11.30 am ET.

In the corporate sector Bristol Myers Squibb reported net loss attributable to BMS of $85 million, compared to profit of $3.835 billion in the prior year. On a per-share basis, loss was $0.04, while the earnings in the prior year was $1.67. Provision for income tax was $1.707 billion, much higher than $337 million a year ago.

Revenue for the quarter surged to $10.13 billion from $6.27 billion in the prior year. Total expenses for the quarter doubled to $8.50 billion from $4.497 billion in the previous year.

Asian stocks finished mixed on Thursday. China's Shanghai Composite index edged up 0.26 percent to 3,386.46. Hong Kong's Hang Seng index declined 0.69 percent to 24,930.58.

Japanese shares ended lower. The Nikkei average dropped 96.70 points, or 0.43 percent, to 22,418.15, while the broader Topix index closed 0.31 percent lower at 1,549.88.

Australian markets finished modestly higher. The benchmark S&P/ASX 200 rose 40.90 points, or 0.68 percent, to 6,042.20, while the All Ordinaries index ended up 44.40 points, or 0.72 percent, at 6,180.30.

European shares are trading mostly lower. CAC 40 of France is down52.74 points or 1.07 percent. DAX of Germany is declining 94.41 points or 0.75 percent. FTSE 100 of England is sliding 118.12 points or 1.93 percent. Swiss Market Index is trading down49.29 points or 0.49 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.07 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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