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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 regain ground following the weakness seen in the previous session.
Early trading may be impacted by reaction to a slew of U.S. economic data, including a report from the Labor Department showing initial jobless claims edged lower in the week ended March 10th.
Following the mixed performance seen on Tuesday, stocks moved mostly lower during trading on Wednesday. With the downward move, the tech-heavy Nasdaq pulled back further off the record closing high set on Monday.
The Dow tumbled 248.91 points or 1 percent to 24,758.12, the Nasdaq dipped 14.20 points or 0.2 percent to 7,496.81 and the S&P 500 fell 15.83 points or 0.6 percent to 2,749.48.
The weakness on Wall Street came following the release of a report from the Commerce Department showing an unexpected decrease in retail sales in the month of February.
The Commerce Department said retail sales edged down by 0.1 percent in February, matching the revised downtick seen in January.
Economists had expected retail sales to rise by 0.3 percent compared to the 0.3 percent drop originally reported for the previous month.
A separate report from the Labor Department showed producer prices rose by 0.2 percent in February, matching economist estimates.
Excluding food and energy prices, producer prices also edged up by 0.2 percent, also in line with the expectations of economists.
Traders were also spooked by rumors that the Federal Reserve will raise interest rates by a half-point when the central bank meets next week.
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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 unemployment benefits edged lower in the week ended March 10th, according to a report released by the Labor Department on Thursday.
The report said initial jobless claims dipped to 226,000, a decrease of 4,000 from the previous week's revised level of 230,000.
Economists had expected jobless claims to slip to 226,000 from the 231,000 originally reported for the previous week.
A separate report released by the Labor Department showed import prices increased by more than expected in the month of February.
The Labor Department said import prices rose by 0.4 percent in February after climbing by a revised 0.8 percent in January.
Economists had expected import prices to edge up by 0.2 percent compared to the 1.0 percent jump originally reported for the previous month.
The report also said export prices increased by 0.2 percent in February after rising by 0.8 percent in January. Export prices were expected to rise by 0.3 percent.
The Federal Reserve Bank of New York also released a report showing business activity in the New York manufacturing sector grew robustly in the month of March.
The New York Fed said its general business conditions index climbed to 22.5 in March from 13.1 in February, with a positive reading indicating growth in the manufacturing sector. Economists had expected the index to edge up to 15.0.
Meanwhile, a report from the Philadelphia Federal Reserve showed growth in the Philadelphia manufacturing sector slowed in the month of March.
The Philly Fed said its diffusion index for current general activity fell to 22.3 in March from 25.8 in February, although a positive reading still indicates growth in the manufacturing sector. Economists had expected the index to drop to 23.0.
At 10 am ET, the National Association of Home Builders is scheduled to release its report on homebuilder confidence in the month of March. The housing market index is expected to edge down to 71 in March from 72 in February. |
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| | Europe |
European stocks are seeing modest strength on the day. While the U.K.?s FTSE 100 Index is just above the unchanged line, the French CAC 40 Index is up by 0.2 percent and the German DAX Index is up by 0.4 percent.
Shares of airliner Lufthansa after turned higher after declining early on in the session after the company said that higher fuel prices may impact its earnings in 2018.
Supermarket giant Tesco PLC has also moved to the upside on the day following a rating upgrade by J.P. Morgan.
Meanwhile, Societe Generale shares have fallen after the bank announced the unexpected departure of deputy chief executive Didier Valet.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian markets turned in a mixed performance on Thursday amid lingering concerns over a trade war after the White House said the administration wants China to reduce its trade surplus with the U.S. by $100 billion.
In Tokyo, Japan's benchmark Nikkei 225 Index edged up 26.66 points or 0.1 percent to 21,803.95.
Marui Group Co shares climbed up 7.4 percent, Tokai Carbon gained 4.2 percent, TDK Corp added 3.7 percent and Daiwa House Industry gained 2.5 percent.
Osaka Gas, Trend Micro, FamilyMart UNY Holdings, Tokyo Tatemono and Nissan Chemicals also ended notably higher.
Meanwhile, NTN Corp., Hitachi Construction Machinery, JTEKT Corp., Mitsui Engineering, IHI Corp., Sumitomo Osaka Corp., Taisei and Sumitomo Dainippon Pharma declined 1.7 to 3.2 percent.
China?s Shanghai Composite Index ended roughly flat at 3,291.61, while Hong Kong's Hang Seng rose 106.09 points or 0.3 percent to 31,541.10.
Meanwhile, Australian stocks ended marginally lower. The benchmark S&P/ASX 200 Index declined 14.50 points or 0.2 percent to 5,920.80. The broader All Ordinaries index ended down 15 points or 0.3 percent at 6,027.60.
Whitehaven Coal, Beach Energy, IPH, Caltex Australia and Infigen Energy declined by 1.6 to 3 percent.
Bendigo & Adelaide Bank, Bank of Queensland, National Australia Bank, ANZ Banking Group and Commonwealth Bank of Australia also ended lower by 1 to 1.5 percent.
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| | Commodities |
Crude oil futures are climbing $0.46 to $61.42 a barrel after rising $0.25 to $60.06 a barrel on Wednesday. Meanwhile, an ounce of gold is trading at $1,320.20, down $5.40 compared to the previous session?s close of $1,325.60. On Wednesday, gold dipped $1.50.
On the currency front, the U.S. dollar is trading at 105.97 yen compared to the 106.32 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.2339 compared to yesterday?s $1.2368.
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