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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | The major U.S. index futures are pointing to a higher opening on Thursday, with stocks poised to add to the modest gains posted in the previous session.
So-called window dressing may contribute to early strength on Wall Street, as investors look to polish their portfolios going into the end of the year.
Nonetheless, many traders are likely to remain away from their desks ahead of the New Year?s weekend, leading to another light trading day.
After ending Tuesday?s session modestly lower, stocks turned in another lackluster performance during trading on Wednesday. The major averages fluctuated over the course of the trading session before closing slightly higher.
The major averages closed in positive territory but off their best levels of the day. The Dow ticked up 28.09 points or 0.1 percent to 24,774.30, the Nasdaq inched up 3.09 points or less than a tenth of a percent to 6,939.34 and the S&P 500 edged up 2.12 points or 0.1 percent to 2,682.62.
The choppy trading on Wall Street came as overall activity was light once again, as many traders remained away from their desks following Christmas and ahead of the holiday on New Year's Day.
Traders largely shrugged off a mixed batch of economic data, as pending home sales unexpectedly edged higher but consumer confidence pulled back more than expected.
The National Association of Realtors released a report showing its pending home sales index inched up by 0.2 percent to 109.5 in November after surging up by 3.5 percent to 109.3 in October. Economists had expected pending home sales to dip by 0.5 percent.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
With the unexpected uptick, the pending home sales index reached its highest level since hitting 110.0 in June. The index is also up by 0.8 percent year-over-year.
Meanwhile, a separate report from the Conference Board showed its consumer confidence index slumped to 122.1 in December from a downwardly revised 128.6 in November.
Economists had expected the consumer confidence index to edge down to 128.0 from the 129.5 originally reported for the previous month.
The bigger than expected decrease by the consumer confidence index came after it reached its highest level in seventeen years in November.
Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets.
Computer hardware, railroad, and tobacco stocks saw some strength on the day, while weakness was visible among natural gas and airline stocks.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
First-time claims for U.S. unemployment benefits unexpectedly came in unchanged in the week ended December 23rd, according to a report released by the Labor Department.
The report said initial jobless claims came in at 245,000, unchanged from the previous week?s unrevised level. Economists had expected jobless claims to dip to 240,000.
At 11 am ET, the Energy Information Administration is scheduled to release its report on oil inventories in the week ended December 22nd.
Crude oil inventories are expected to drop by 3.9 million barrels after tumbling by 6.5 million barrels in the previous week.
The Treasury Department is due to announce the results of its auction of $28 billion worth of seven-year notes at 1 pm ET.
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| | Stocks in Focus |
Shares of J.B. Hunt Transport Services (JBHT) are moving to the downside in pre-market trading after the trucking and transportation company forecast fourth quarter earnings below analyst estimates.
Blockchain-related companies such as Riot Blockchain (RIOT), Longfin (LFIN), Nova Lifestyle (NVFY) may also come under pressure after South Korea imposed new restrictions on cryptocurrency trading.
Shares of MoneyGram (MGI) may be in focus after the money transfer and payment services company announced CEO W. Alexander Holmes has been appointed to the additional role of Chairman. |
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| | Europe |
European stocks are turning in a lackluster performance on the day, with traders not showing much interest in picking up stocks due to an absence of fresh triggers.
Thanks to rising commodity prices, miners and energy stocks are doing fairly well, but the overall mood in the market is rather subdued.
The German DAX Index is down by 0.1 percent, while the French CAC 40 Index is down by 0.2 percent.
Meanwhile, the U.K. market is slightly higher, with resources stocks lifting the benchmark FTSE 100 Index up by 0.1 percent. The index reached a record intraday high earlier in the session.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian markets mostly ended on the positive side on Thursday, although buying interest was a bit subdued in most of the markets in the region.
Almost all the markets in the region started off on a firm note but failed to sustain at higher levels. Volume was light as investors chose to stay on the sidelines ahead of the weekend and the New Year?s Day holiday.
In Australian, energy, mining, and telecom stocks edged higher and lifted the benchmark indices to a positive close.
The S&P/ASX 200 Index edged up 18.20 points or 0.3 percent to 6088.10. The All Ordinaries index rose 19.70 points or 0.3 percent to 6189.40.
Greencross Limited shares jumped nearly 5 percent. Breville Group and Speedcast International also rose sharply. Meanwhile, APA Group and Retail Food Group shed 2.8 percent and 5.5 percent, respectively.
China?s Shanghai Composite Index also climbed 21.42 points or 0.7 percent to 3,297.21, while Hong Kong?s Hang Seng Index advanced 266.05 points or 0.9 percent to 29,863.71.
Despite some fairly encouraging economic data, the Japanese market ended lower, with machinery, banking and warehouses stocks registering notable losses. A stronger yen and a lack of positive catalysts dragged stock prices down.
The benchmark Nikkei 225 Index ended down 127.23 points or 0.6 percent at 22,783.98. Out of the 225 stocks in the index, only 30 managed to close on a positive note. About 20 stocks ended flat and the rest closed in negative territory.
In the banking space, Mitsubishi UFJ Financial, Shizuoka Bank, Shinsei Bank, Chiba Bank, and Aozora Bank ended notably lower.
Nippon Sheet Glass and Nippon Suisan Kaisha both shed nearly 3.5 percent. Fukuoka Financial, Keio Corp., GS Yuasa Corp., Tokyo Tatemono, Showa Shell Sekiyu K.K, Nomura and Resona Holdings declined by 1 to 2.5 percent.
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| | Commodities |
Crude oil futures are sliding $0.42 to $59.55 a barrel after falling $0.33 to $59.64 a barrel on Wednesday. An ounce of gold is trading at $1,294, up $2.60 compared to the previous session?s close of $1,291.40. On Wednesday, gold rose $3.90.
On the currency front, the U.S. dollar is trading at 112.85 yen compared to the 113.35 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1942 compared to yesterday?s $1.1888.
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