The initial market trends on U.S. Futures Index points to a lower opening for Wall Street. The market might react to the Jobless claims that would provide a clear impact of the recent hurricanes. Forecasters are looking for a sharp increase in claims to 303,000. Asian shares closed lower, while European shares are in trading in the red.
As of 7.15 am ET, the Dow futures were slipping 10 points, the S&P 500 futures were shedding 1.50 points and the Nasdaq 100 futures were slipping 4.75 points.
U.S. stocks closed mixed on Wednesday. The Dow and the S&P 500 rising to new record closing highs. The Nasdaq edged down 5.28 points or 0.1 percent to 6,456.04, the Dow rose 41.79 points or 0.2 percent to 22,412.59 and the S&P 500 inched up 1.59 points or 0.1 percent to 2,508.24.
On the economic front, the Labor Department’s Jobless Claims for the week will be published at 8.30 am ET. The economists are looking for consensus of 303K, up from 284K in the prior week.
The Philadelphia Fed Business Outlook survey for September will be released at 8.30 am ET. The consensus is for 18.00 compared to 18.9 in the prior week.
The Federal Housing Finance Agency’s House Price Index for July is expected at 9.00 am ET. The forecasters are looking for growth of 0.4 percent, while it grew 0.1 percent in the previous month.
The Conference Board’s Leading Indicators for August will be revealed at 10.00 am ET. The consensus is for a growth of 0.2 percent, down from 0.3 percent in the prior week.
The Energy Information Administration’s Natural Gas report that provides weekly information on natural gas stocks in underground storage for the U.S. and five regions of the country is expected at 10.30 am ET. The change in the previous week was 91 bcf.
Two year and five year Treasury Note auctions will be held at 11.00 am ET. Treasuries ten-year inflation-indexed securities or TIPS will be auctioned at 1.00 pm ET.
The Fed’s Balance Sheet for the week will be published at 4.30 pm ET. The prior week level was $4.471 trillion.
The Fed’s Money Supply for the week will be released at 4.30 pm ET. The M2 weekly change was a deficit of $7.2 billion.
In the corporate sector, Toshiba Corp.’s board agreed to sell its flash memory chip unit to a group led by Bain Capital for 2 trillion yen or $18 billion. The companies have been engaged in a bidding process that has stretched over eight months. Toshiba aims to close the transaction by the end of March 2018.
Alphabet Inc.’s (GOOGL, GOOG) Google and…