Wall Street Aims To Open Lower

Early cues from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mostly higher, while European shares are trading down.

The European Central Bank’s policy decision was released this morning and the pandemic emergency purchase program was boosted by 600 billion euros to a total of 1,350 billion euros.

Weekly jobless claims, and the U.S. trade deficit report are the major highlights on Friday. The Labor Department’s monthly jobs report is expected on Friday.
The social unrest across the U.S. after the death of Floyd is calming down.

The U.S. major averages closed firmly positive on Wednesday. The Dow surged up 527.24 points or 2.1 percent to 26,269.89, the Nasdaq advanced 74.54 points or 0.8 percent to 9,682.91 and the S&P 500 jumped 42.05 points or 1.4 percent to 3,122.87.

On the economic front, the U.S. Department of Commerce’s International Trade for April will be issued at 8.30 am ET. The consensus is for a deficit of $42.0 billion, while the prior month deficit was $44.4 billion.

Jobless Claims for the week will be released at 8.30 am ET. The new claims are expected to be 1790K, while it was 2123k in the prior week.

The Labor Department’s Productivity and Costs for the first quarter will be issued at 8.30 am ET. The consensus s for a decline of 2.5 percent, in line with the last year.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be revealed at 10.30 am ET. In the prior week, the change was 109 bcf.

Three-year Treasury Note auction and the 30-year Bond announcement will be held at 11.00 am ET.

The Fed Balance sheet for the week will be announced at 4.30 pm ET. In the prior week, the level was $7.097 trillion.

The Fed Balance Sheet for the week will be released at 4.30 pm ET. In the prior week, the level was $7.097 trillion.

The Fed Money Supply for the week is scheduled at 4.30 pm ET. The M2 weekly change was $93.8 billion.

Asian stocks rose broadly on Thursday. Chinese shares finished slightly lower. The benchmark Shanghai Composite index slipped 4.12 points, or 0.14 percent, to 2,919.25, while Hong Kong’s Hang Seng index edged up 0.17 percent to 24,366.30.

Japanese shares rose for a fourth straight session. The Nikkei average edged up 81.98 points, or 0.36 percent, to 22,695.74, while the broader Topix index closed 0.30 percent higher at 1,603.82.

Australian markets gained ground after the announcement of the fourth stimulus package worth A$680 million or $471 million to repair an economy that is now in its first recession in 29 years. The benchmark S&P/ASX 200 gained 50.20 points, or 0.84 percent, to finish at 5,991.80, while the broader All Ordinaries index ended up 47.10 points, or 0.78 percent, at 6,112.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is declining 31.10 points or 0.22 percent. The German DAX is progressing 23.61 points or percent, the U.K. FTSE 100 Index is gaining 3.59 points or 0.06 percent.

The Swiss Market Index is down 55.12 points or 0.53 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.35 percent.

Source: Read Full Article