Wall Street Poised To Open In Negative Territory

The weekly jobless claims, manufacturing activity, and construction spending might get special attention from investors on Thursday.

Earnings reports as well as geopolitical developments might also influence the market sentiments.

Early signs in the U.S. Futures Index suggest that Wall Street might open lower on the day.

Asian shares finished in negative territory, while European shares finished lower.

As of 7.44 am ET, the Dow futures were declining 88.00 points, the S&P 500 futures were down 11.50 points, and the Nasdaq 100 futures were tumbling 60.25 points.

The U.S. major averages ended Wednesday’s session lower. The Dow slid 280.44 points or 0.9 percent to 31,510.43, the Nasdaq fell 66.93 points or 0.6 percent to 11,816.20 and the S&P 500 dropped 31.16 points or 0.8 percent to 3,955.00.

On the economic front, the Labor Department’s Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is for 246K, while it was up 243K in the prior week. The Productivity and Costs for the second quarter will be released at 8.30 am ET. The consensus is for a decline of 4.4 percent, while it was down 4.6 percent in the prior quarter.

The Purchasing Managers’ Manufacturing Index or PMI Manufacturing Final for August will be released at 9.45 am ET. The consensus is 51.3.

The Institute for Supply Management’s Manufacturing Index for August will be issued at 10.00 am ET. The consensus is 52.0, while it was up 52.8 in the prior month.

The Commerce Department’s Construction Spending for July will be revealed at 10.00 am ET. The consensus is 0.0 percent, while it was down 1.1 percent in the prior month.

The Energy Information Administration or EIA’s Natural Gas Report for the week is expected at 10.30 am ET. In the prior week, the gas stock was 60 bcf.

The Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was at 48.851 trillion.

Asian stocks declined on Thursday. China’s Shanghai Composite index dropped 0.54 percent to 3,184.98. Hong Kong’s Hang Seng index plunged 1.79 percent to 19,597.31.

Japanese shares tumbled on the day. The Nikkei average plummeted 1.53 percent to 27,661.47 while the broader Topix index ended 1.41 percent lower at 1,935.49.

Australian markets closed lower. The benchmark S&P/ASX 200 fell 2.02 percent to 6,845.60 while the broader All Ordinaries index ended 2.02 percent lower at 7,079.90.

European shares are trading lower. CAC 40 of France is down 74.49 points or 1.22 percent. DAX of Germany is declining 143.17 points or 1.12 percent. FTSE 100 of England is sliding 92.84 points or 1.27 percent. Swiss Market Index is losing 109.69 points or 1.01 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.13 percent.

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