Futures Points To Broadly Positive Open For Wall Street

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(RTTNews) – Reports on Weekly Jobless Claims and the U.S. trade deficit might get special attention on Thursday. More closely watched monthly jobs reports are expected on Friday.

Early cues on the U.S. Futures Index suggest that Wall Street might open broadly higher.

As of 7.05 am ET, the Dow futures were down 18.00 points, the S&P 500 futures were adding 1.00 points and the Nasdaq 100 futures were progressing 22.50 points.

The U.S. major averages finished higher on Wednesday. The Nasdaq surged 330.86 points or 2.0 percent to 17,187.90 and the S&P 500 jumped 62.69 points or 1.2 percent to 5,354.03, while the narrower Dow posted a more modest gain, rising 96.04 points or 0.3 percent to 38,807.33.

On the economic front, the Labor Department’s Productivity and Costs for the first quarter will be issued at 8.30 am ET. The consensus for non-farm productivity is 0.2 percent, while it was up 0.3 percent in the prior quarter.

The International Trade in Goods and Services for April is scheduled at 8.30 am ET. The consensus is for a deficit of $75.2 billion, while the deficit in the prior month was $69.4 billion.

The Labor Department’s Jobless Claims for the week is expected at 8.30 am ET. The consensus is 216K, while it was up 219K in the prior week.

Asian stock markets finished mostly higher on Thursday. The Shanghai markets were lower by 0.54 percent at 3,048.79 at the close. Hang Seng of Hong Kong gained 51.84 points or 0.28 percent to 18,476.80.

The Japanese market is sharply higher on Thursday. The benchmark Nikkei 225 Index closed the morning session at 38,703.51, up 213.34 points or 0.55 percent.

The Australian market is significantly higher on Thursday, adding to the gains in the previous session, following the broadly positive cues from global markets overnight. The benchmark S&P/ASX 200 reached 7,821.80, up 0.68 %. The broader All Ordinaries Index was up 53.10 points or 0.66 percent to 8,075.30.

European shares are trading higher. CAC 40 of France is progressing 43.60 points or 0.54 percent. DAX of Germany is gaining 133.75 points or 0.72 percent. FTSE 100 of England is progressing 34.36 points or 0.42 percent. The Swiss Market Index is up 82.81 points or 0.68 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.74 percent.