Wall Street Might Open In Negative Zone
The Weekly Jobless Claims, Existing Home data, and Leading Economic Indicators might be of interest to investors on Thursday.
Earnings reports will also get attention today. In the pre-market session, AT&T Inc. (T) reported a decline in first-quarter earnings to $4.18 billion or $0.58 per share, down from $4.76 billion or $0.66 per share last year. On an adjusted basis, earnings were $0.60 per share. Revenue for the quarter increased to $30.14 billion from $29.71 billion in the previous year.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower. Asian shares finished mixed, while European shares are trading in negative territory.
As of 7.15 am ET, the Dow futures were declining 130.00 points, the S&P 500 futures were down 26.25 points, and the Nasdaq 100 futures were declining 118.50 points.
The U.S. major averages eventually closed little changed. The Nasdaq crept up 3.81 points or less than a tenth of a percent to 12,157.23, the S&P 500 edged down 0.35 points or less than a tenth of a percent to 4,154.52 and the Dow dipped 79.62 points or 0.2 percent to33,897.01.
On the economic front, the Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The consensus is 242K, while it was up 239K in the prior week.
The Philadelphia Fed Manufacturing Index for April will be released at 8.30 am ET. The consensus is for negative 19.4, while it was down 23.2 in the previous month.
The National Association of Realtors’ Existing Home Sales for March will be published at 10.00 am ET. The consensus is 4.50 million, while it was up 4.580 million in February.
The Conference Board’s Leading Indicators for March is scheduled at 10.00 am ET. The consensus is for a decline of 0.4 percent, while it was down 0.3 percent in the prior month.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be revealed at 10.30 am ET. In the prior week, the gas stock was up 25 bcf.
The five-year Treasury Inflation-Protected Securities or TIPS auction will be held at 1.00 pm ET.
The Fed Balance Sheet for the week will be issued at 4.30 am pm ET. In the prior week, the level was up $8.615 trillion.
In the corporate sector, Cathay Bancorp, First Financial, PPG Industries, and W.R. Berkley will be published after the bell today.
Asian stocks ended Thursday’s session lower. China’s Shanghai Composite index finished marginally lower at 3,367.03.
Hong Kong’s Hang Seng index edged up 0.14 percent to 20,396.97.
Australian markets ended flat with a negative bias. Australia ASX All Ordinaries finished at 7,555.40, down 5.90 points or 0.08 percent.
Japan’s Nikkei 225 finished at 28,657.57, up 50.81 points or 0.18 percent.
European shares are trading lower. CAC 40 of France is down 30.65 points or 0.41 percent. DAX of Germany is declining 117.68 points or 0.74 percent. FTSE 100 of England is down 10.93 points or 0.14 percent. The Swiss Market Index is sliding 22.12 points or 0.19 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.41 percent.
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