Futures Suggest Flat Opening For Wall Street

The market might be reacting to the reduction in U.K. economic growth forecast and commodity pricing cues. The traders are looking ahead to the Jobless claims, the ISM non-manufacturing report and other major economic announcements on Thursday. Initial trading on the U.S. Futures Index suggest that Wall Street might open mixed. Asian shares finished lower, while European shares are broadly higher.

As of 6.45 am ET, the Dow futures were unchanged, the S&P 500 futures were shedding 0.25 points and the Nasdaq 100 futures were slipping 5.75 points.

U.S. stocks closed mixed on Wednesday. Dow Jones Industrial Average closed up $52.32 points or 0.24 percent up after breaking the 22,000 milestone. While S&P 500 Index finished 1.22 points or 0.05 percent higher, while the Nasdaq Composite closed little changed with a negative bias.

On the economic front, Challenger Job-Cut Report for July will be issued at 7.30 am ET. The prior month layoffs were 31,105.

The Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The economists are looking for consensus of 244K, unchanged from the previous week.

The Gallup Good Jobs Rate for July will be published at 8.30 am ET. The level in the previous month was 46.3.

U.S. Services Purchasing Managers’ Index for July will be revealed t 9.45 am ET. Teh consensus is for 54.2, unchanged from June.

The Commerce Department’s Factory Orders for June will be issued at 10.00 am ET. The forecasters are looking for growth consensus of 2.7 percent, while it declined 0.8 percent a month ago.

ISM Non-Manufacturing Index for July is expected at 10.00 am ET. The consensus is for 56.9, compared to 57.4 in June.

The Energy Information Administration or EIA’s Natural Gas Report, that provides weekly information on natural gas stocks in underground storage for the U.S. and three regions of the country, will be published at 10.30 am ET. The weekly change in the prior week was 17 bcf.

The Fed’s balance sheet for the week is expected at 4.30 pm ET. The previous level was $4.465 trillion.

The Fed’s Money Supply for the week will be revealed at 4.30 pm ET. The M2 weekly change was $6.0 billion.

In the corporate sector, Health insurer Aetna (AET) reported a surge in second quarter net income to $1.2 billion or $3.60 per share. Adjusted earnings were $1.12 billion, or $3.42 per share. Total revenues, meanwhile, declined 3 percent to $15.52 billion. The company lifted earnings forecast for fiscal 2017, based on strong second quarter…

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