Futures Suggests Wall Street To Open Lower

The Labor Department’s Jobless Claims for the week, the Good and Services Trade for July as well as US Services Purchasing Managers’ Index for August are the major economic announcements on Thursday.

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

As of 8.00 am ET, the Dow futures were losing 23.00 points, the S&P 500 futures were down 14.50 points and the Nasdaq 100 futures were down 137.75 points.

The U.S. major averages recorded strong gains on Wednesday. The Dow spiked 454.84 points or 1.6 percent to 29,100.50, the Nasdaq jumped 116.78 points or 1 percent to 12,056.44 and the S&P 500 surged up 54.19 points or 1.5 percent to 3,580.84.

On the economic front, the Good and Services Trade for July will be published at 8.30 am ET. The consensus is for a decline of $58.5 billion, while it was down $50.7 billion in the previous month.

The Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 958K, down from 1006K in the prior week.

The Labor Department’s Productivity and Costs for the second quarter will be released at 8.30 am ET. The consensus is for growth of 7.4 percent, while it was up 7.3 percent in the previous quarter.

US Services Purchasing Managers’ Index or PMI for August will be revealed at 9.45 am ET. In the previous month, the Composite Index were up 50.3.

The Energy Information Administration or EIA’s Natural Gas Report is scheduled at 10.30 am ET. In the prior week, the gas stock was up 45 bcf.

Three-year, Ten-year Treasury Note auction and 30-year Treasury Bond auction will be held at 11.00 am ET.

The Fed’s balance sheet for the week will be published at 4.30 am ET. In the prior week, the level was at $6.990 trillion.

The Fed Money Supply for the week will be issued at 4.30 pm ET. In the prior week, the M2 weekly change was up $46.6 billion.

Asian stocks finished mixed on Thursday. China’s Shanghai Composite index fell 19.82 points, or 0.58 percent, to 3,384.98.

Hong Kong’s Hang Seng index dropped 0.45 percent to 25,007.60.

Japanese shares hit a six-month high. The Nikkei average climbed 218.38 points, or 0.94 percent, to 23,465.53 its highest close since Feb. 21. The broader Topix index closed 0.48 percent higher at 1,631.24.

Australian markets closed higher. The benchmark S&P/ASX 200 index inched up 49.40 points, or 0.81 percent, to 6,112.60, extending gains for a second straight session. The broader All Ordinaries index ended up 49.20 points, or 0.79 percent, at 6,301.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is gaining 75.93 points or 1.51 percent. The German DAX is progressing 119.78 points or 0.69 percent, the U.K. FTSE 100 Index is up 24.49 points or 0.41 percent.

The Swiss Market Index is gaining 70.54 points or 0.67 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is adding 1.02 percent.

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