Personal Income and Outlays as well as the Labor Department’s Jobless Claims for the week are the major highlights on Thursday. The Asian shares closed down, while European shares are trading in the green pasture. Early signs from U.S. Futures Index suggest that Wall Street might be surging at the opening session.
As of 6.30 am ET, the Dow futures were gaining 91 points, the S&P 500 futures were adding 8.25 points and the Nasdaq 100 futures were increasing 20.75 points.
U.S. stocks closed mixed on Wednesday. The Dow climbed 103.97 points or 0.4 percent to 23,940.68, the Nasdaq plunged 88.02 points or 1.3 percent to 6,824.34 and the S&P 500 edged down 0.97 points or less than a tenth of a percent to 2,626.07.
On the economic front, the U.S. Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 240K, compared to 239K in the prior year.
Personal Income and Outlays for October will be published at 8.30 am ET. The growth consensus for Personal Income is 0.3 percent, compared to 0.4 percent in the prior month.
Cleveland Federal Reserve Bank President Loretta Mester to moderate a panel discussion on “Financial Innovation and Macroprudential Policy” at the 2017 Financial Stability and Fintech Conference in Washington at 8.30 am ET.
Chicago-area PMI for November will be revealed at 9.45 am ET. The Consensus is for 63.5, slightly down from 66.2 in the previous month.
Dallas Federal Reserve Bank President Robert Kaplan to take part in a moderated Q&A session at the Real Estate Council Speaking Series in Dallas, with audience and media Q&A at 1.00 pm ET.
In the corporate sector, Sears Holdings Corp. (SHLD) reported that its third-quarter net loss attributable to shareholders was $558 million or $5.19 loss per share, narrower than last year’s net loss of $748 million or $6.99 loss per share. Adjusted EBITDA improved $100 million to negative $275 million.
Total revenues of approximately $3.66 billion fell from revenues of $5.03 billion in the prior year, with store closures contributing to over half of the decline. Total comparable store sales declined 15.3 percent during the quarter. Kmart comparable store sales decreased 13.0 percent, while Sears comparable store sales declined 17.0 percent.
Asian stocks fell broadly on Thursday as weakness in tech stocks following the overnight pullback by the tech-heavy Nasdaq. Chinese stocks fell as investors booked some profits in recent outperformers. The benchmark Shanghai Composite…