U.S. futures are pointing to a higher open on Thursday, with Wall Street expected to start the day on a positive note. As of 7:40 AM ET, the Dow futures gained 63 points, the S&P 500 futures added 7.75 points, and the Nasdaq 100 futures saw a decline of 14.25 points.
On Wednesday, the U.S. major indices reached new highs. The Dow gained 317.24 points, or 0.7%, closing at 44,873.28. The S&P 500 rose 23.60 points, or 0.4%, to 6,061.48, while the Nasdaq climbed 38.31 points, or 0.2%, to 19,692.33.
Key Economic Data
The weekly jobless claims report will be a key focus on Thursday. The consensus forecast is for claims to rise to 215,000, up from 207,000 the previous week. The report will be released at 8:30 AM ET.
In addition, the Productivity and Costs report for Q4 is expected to show a 1.8% increase, down from 2.2% in the prior quarter.
The Energy Information Administration (EIA) will also release its Natural Gas Report for the week at 10:30 AM ET. Last week, gas stocks were down by 321 billion cubic feet (bcf).
Later in the day, the Federal Reserve’s Balance Sheet data will be released at 4:30 PM ET. The previous week, the Fed’s balance sheet stood at $6.818 trillion.
Global Market Overview
Asian markets were broadly higher on Thursday. The Shanghai Composite in China surged 1.27%, closing at 3,270.66. Hong Kong’s Hang Seng index rose 1.43% to 20,891.62, while Japan’s Nikkei index gained 0.61% to 39,066.53, and the Topix index increased by 0.25% to 2,752.20. Australian markets also saw sharp gains, with the S&P/ASX 200 rising 1.23% to 8,520.70, and the All Ordinaries index closing up 1.17% at 8,785.10.
European stocks are also trading higher. France’s CAC 40 added 78.67 points, or 1.00%, while Germany’s DAX gained 193.46 points, or 0.90%. The FTSE 100 in the UK saw a decline of 198 points, or 3.49%. The Swiss Market Index climbed 27.70 points, or 0.22%. The Euro Stoxx 50, a key benchmark for blue-chip stocks in the Eurozone, was up 0.81%.
