February 8, 2023

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Futures Point To Positive Open For Wall Street

2 min read

Initial Jobless Claims and Factory Orders might be the highlights on Thursday. Private Sector Employment also will be of importance for the investors. The Monthly Jobs Report is scheduled for Friday.

Asian stocks finished mostly lower, while European shares are trading positive.

Early signs from the U.S. Futures Index suggest that Wall Street might open higher on Thursday.

As of 7.40 am ET, the Dow futures were up 142.00 points, the S&P 500 futures were adding 22.00 points and the Nasdaq 100 futures were progressing 84.75 points.

After much fluctuation in Wednesday’s session, the U.S. major stock finished lower. The Dow fell 176.89 points or 0.5 percent to 32,813.23, the Nasdaq declined 86.93 points or 0.7 percent to 11,994.46 and the S&P 500 slid 30.92 points or 0.8 percent to 4,101.23.

On the economic front, the ADP Employment Report for May will be published at 8.15 am ET. The consensus is for a growth of 240,000, while it was up 247,000 in the prior month.

The Labor Department’s Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is 210K, while it was at 210K in the previous week.

The Labor Department’s Productivity Costs for the first quarter is expected at 8.30 am ET. The consensus is for a decline of 7.5 percent, while it was down 7.5 percent in the prior quarter.

Factory Orders for April is scheduled at 10.00 am ET. The consensus is for an increase of 0.8 percent, while it was up 2.2 percent in March 2022.

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 gas stock was 80 bcf. The Petroleum Status Report for the week will be released at 11.00 am ET. In the prior week, the Crude Oil Inventories were down 1.0 million barrels, and the Gasoline Inventories were down 0.5 million barrels.

Fed Balance Sheet for the week is expected at 4.30 pm ET. In the prior week, the level was at $8.914 trillion.

Three-year and five-year Treasury Note auctions will be held at…

2022-06-02 08:04:06

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