Wall Street Poised For Mixed Opening

The European Central Bank’s monetary policy announcement and the Jobless Claims report are much awaited by the market. Early signs from the U.S. Futures Index points to broadly higher opening for Wall Street. Asian shares closed mixed, while European shares are trading up.

As of 7.15 am ET, the Dow futures were slipping 1 point, the S&P 500 futures were gaining 1 point and the Nasdaq 100 futures were up 6.50 points.

U.S. stocks closed mostly higher on Wednesday. The Dow climbed 54.33 points or 0.3 percent to 21,807.64, the Nasdaq rose by 17.74 points or 0.3 percent to 6,393.31 and the S&P 500 advanced 7.69 points or 0.3 percent to 2,465.54.

On the economic front, Jobless Claims for the week will be published at 8.30 am ET. The economists are looking for new claims consensus of 241K, up from the 236K in the previous week.

The Labor Department’s Productivity and costs report for the second quarter will be issued at 8.30 am ET. The growth consensus for non-farm productivity is 1.3 percent, compared to 0.9 percent in the previous quarter. Unit labor cost is expected to increase 0.3 percent, while it grew 0.6 percent in the previous period.

Quarterly Services Survey for the second quarter will be released at 10.00 am ET. In the prior quarter, the index was up 1.5 percent.

The Energy Information Administration or EIA, that provides weekly information on natural gas stocks in underground storage for the U.S. and five regions of the country will be revealed at 10.30 am ET. In the previous week the change was 30 bcf.

3-year, 10-year Treasury Note and 30 year Bond announcement will be issued at 11.00 am ET.

A report on the Separate Trading of Registered Interest and Principal of Securities or STRIPES will be published at 3.00 pm ET.

Cleveland Federal Reserve Bank President Loretta Mester will speak about economic outlook and monetary policy at an event held by the Economic Club of Pittsburgh, World Affairs Council of Pittsburgh, CFA Society Pittsburgh, and Pittsburgh Association for Financial Professionals in Pittsburgh, with audience and media Q&A at 12.15 pm ET.

Kansas City Federal Reserve Bank President Esther George will discuss the U.S. economic outlook at the Omaha Economic Forum in Omaha at 8.15 pm ET.

In the corporate sector, Barnes Group Inc. (B) reaffirmed its 2017 outlook. Total revenue is expected to increase 14 to 15 percent over the prior year period; organic revenue to be up 9 to 10 percent. Adjusted earnings per share for the fiscal is projected in a…

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