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Wall Street Aims To Open Moderately Higher

Jobless Claims, Personal Income and Spending, a slew of Fed speeches are the important announcements on Thursday.

Early signs from the U.S. Futures Index suggest that Wall Street might open moderately positive.

Asian shares finished closed broadly higher, while European shares are trading positive.

As of 8.05 am ET, the Dow futures were adding 215.00 points, the S&P 500 futures were gaining 29.75 points and the Nasdaq 100 futures were up 147.75 points.

The U.S. major averages all finished Wednesday firmly in positive territory. The Dow jumped 329.04 points or 1.2 percent to 27,781.70, the Nasdaq climbed 82.26 points or 0.7 percent to 11,167.51 and the S&P 500 advanced 27.53 points or 0.8 percent to 3,363.00.

On the economic front, Jobless Claims for the week will be published at 8.30 am ET. The consensus is for 850K, while it was 870K in the prior week.

Personal Income and Outlays for August will be issued at 8.30 am ET. The consensus is for a decline of 2.5 percent, while it was up 0.4 percent in the prior month.

Markit Economics’ Purchasing Managers’ Manufacturing Index or PMI for September is scheduled at 9.45 am ET. The consensus is for 53.5, slightly up from 53.1 in the prior year.

Institute for Supply Management’s Manufacturing Index for September will be released at 10.00 am ET. The Consensus is for 56.3, while it was up 56.0 in August.

The Commerce Department’s Construction Spending for August will be revealed at 10.00 am ET. The consensus is for a growth of 0.7 percent, compared to increase of 0.1 percent in July.

The Energy Information Administration or EIA’s Natural Gas report for the week will be published at 10.30 am ET. In the prior week, the change was up 66 bcf.
The Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was at $7.093 trillion.

The Fed Money Supply for the week will be issued at 4.30 pm ET. In the prior week, the M2 weekly change was up $123.9 billion.

New York Federal Reserve Bank President John Williams will moderate a discussion with Merck CEO Kenneth Frazier at a live-streamed webinar event held by the Economic Club of New York at 11.00 am ET.

Federal Reserve Board of Governors Member Michelle Bowman will speak at the “Virtual Roundtable Discussion: Opportunities and Challenges for Home Ownership” hosted by the Montana State University Jake Jabs College of Business & Entrepreneurship at 3.00 pm ET.

In the corporate sector, PepsiCo Inc. reported 16 percent growth in profit for the third quarter on revenue growth.

Asian stocks finished mostly higher on Thursday.

Chines stock markets are closed for the mid-autumn festival today.

Japanese markets were lower, and Nikkei 225 finished 0.19 points at 23,184.93.

Australian markets rose sharply to snap a three-day losing streak. The benchmark S&P/ASX 200 index rose 57 points, or 0.98 percent, to 5,872.90, while the broader All Ordinaries index ended up 60.10 points, or 1 percent, at 6,069.40.

European shares are trading higher. Among the major indexes in the region, the German DAX is gaining 30.13 points or 1.45 percent, the U.K. FTSE 100 Index is progressing 39.07 points or 0.67 percent.

The Swiss Market Index is adding 111.67 points or 1.10 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.49 percent.

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