Wall Street Aims To Open Broadly Lower

By RTTNews Staff Writer   ✉   | Published:

The weekly Jobless Claims and Consumer Price Inflation might get the special attention of investors. Fed speeches, especially that of Fed Chair Jerome Powell's speech on a policy panel, might have an influence on market sentiments on Thursday.
Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower.

Asian shares fell on the day and European shares are trading down.

As of 7.30 am ET, the Dow futures were down 191.00 points, the S&P 500 futures were sliding 13.25 points and the Nasdaq 100 futures were adding 12.50 points.

The U.S. major Indices were broadly positive on Wednesday. The Dow edged down 23.29 points or 0.1 percent to 29,397.63, the broader Nasdaq and S&P 500 both closed firmly in positive territory. The Nasdaq surged up 232.58 points or 2 percent to 11,786.43 and the S&P 500 climbed 27.13 points or 0.8 percent to 3,572.66.

On the Economic front, the Labor Department's Consumer Price Index for October will be issued at 8.30 am ET. The consensus is for an increase of 0.2 percent, while it was up 0.2 percent.

The Labor Department's Jobless Claims for the week will be released at 8.30 am ET. The consensus is for 737K, down from 751K in the previous week.

Atlanta Fed Business Inflation Expectations for November will be revealed at 10.00 am ET. In the prior month, the Expectations were up .18 percent.

Ten-year Treasury Inflation protected Securities or TIPS and 20-year Treasury bond will be issued at 11.00 am ET.

Federal Reserve Board of Governors Vice Chair for Supervision Randal Quarles will testify about "Supervision and Regulation" before the House Financial Services Committee at 9.30 am ET.

Chicago Federal Reserve Bank President Charles Evans will speak about current economic conditions and monetary at a virtual Detroit Community Forum on "Building a Strong and More Equitable Future" at 1.00 pm ET.

New York Federal Reserve Bank President John Williams will speak at a virtual conversation event held by the Economic Club of New York at 2.00 pm ET.

The Treasury Department's Treasury Statement for October will be published at 2.00 pm ET. The consensus is for a deficit of $199.5 billion. In the previous month, the deficit was $124.6 billion.

The Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was at $7.157 trillion.

The Fed Money Supply for the week will be revealed at 4.30 pm ET. In the previous week, the M2 Money Supply was 4.30 pm ET.

Federal Reserve Chairman Jerome Powell will speak on a policy panel at the European Central Bank Forum on Central Banking virtual event at 9.30 am ET.

Asian stocks fell broadly on Thursday. Chinese shares were down slightly. The benchmark Shanghai Composite index slipped 3.52 points, or 0.11 percent, to 3,338.68, while Hong Kong's Hang Seng index ended down 57.60 points, or 0.22 percent, at 26,169.38.

Japanese share rose notably to close near a 29-1/2-year high. The Nikkei average ended up 171.28 points, or 0.68 percent, at 25,520.88, after hitting as high as 25,587.96 earlier in the session.

Australian markets finished modestly lower. The benchmark S&P/ASX 200 index dropped 31.50 points, or 0.49 percent, to 6,418.20, while the broader All Ordinaries index ended down 31.70 points, or 0.48 percent, at 6,619.40.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 159.54 points or 3.37 percent. The German DAX is losing 128.93 points or 0.96 percent, the U.K. FTSE 100 Index is sliding 38.70 points or 0.61 percent.

The Swiss Market Index is declining 27.92 points or 0.27 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.82 percent.

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