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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 likely to see some further upside following the strong gains posted in the previous session.
The futures remained positive following the release of a Labor Department report showing a slightly smaller than expected increase in consumer prices in the month of April.
After ending Tuesday?s trading roughly flat, stocks showed a notable move to the upside during the trading day on Wednesday. The major averages all climbed firmly into positive territory after closing on opposite sides of the unchanged line on Tuesday.
The major averages closed significantly higher but off their best levels of the day. The Dow advanced 182.19 points or 0.8 percent to 24,542.40, the Nasdaq jumped 73.00 points or 1 percent to 7,339.90 and the S&P 500 surged up 25.87 points or 1 percent to 2,697.79.
The strength on Wall Street was partly due to a sharp increase by the price of crude oil following President Donald Trump's decision to withdraw from the Iran nuclear deal.
Trump harshly criticized the nuclear agreement with Iran in remarks from the White House and signed a memorandum re-imposing sanctions on Iran.
"I am announcing today that the United States will withdraw from the Iran nuclear deal," Trump said. "We will be instituting the highest level of economic sanctions."
"The United States no longer makes empty threats," added Trump, who criticized the deal throughout his presidential campaign. "When I make promises, I keep them."
Energy stocks moved significantly higher along with the price of crude oil. Reflecting the strength in the energy sector, the NYSE Arca Oil & Gas Index surged up by 2.4 percent, the Philadelphia Oil Service Index jumped by 2.2 percent and the NYSE Arca Natural Gas Index advanced by 1.4 percent.
Significant strength was also visible among chemical stocks, as reflected by the 1.7 percent gain posted by the S&P Chemical Sector Index. The index reached its best closing level in well over a month.
Financial, biotechnology and semiconductor stocks also saw notable strength on the day, while housing and utilities stocks moved to the downside.
On the U.S. economic front, the Labor Department released a report showing a modest uptick in producer prices in the month of April.
The Labor Department said its producer price index for final demand inched up by 0.1 percent in April after rising by 0.3 percent in March. Economists had expected prices to edge up by 0.2 percent.
Excluding food and energy prices, core producer prices rose by 0.2 percent in April after climbing by 0.3 percent in the previous month. The increase in core prices matched economist estimates.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
Consumer prices in the U.S. increased by slightly less than expected in the month of April, the Labor Department revealed in a report released.
The Labor Department said its consumer price index rose by 0.2 percent in April after edging down by 0.1 percent in March. Economists had expected consumer prices to climb by 0.3 percent.
Excluding food and energy prices, core consumer prices inched up by 0.1 percent in April after rising by 0.2 percent in the previous month. Core prices had been expected to rise by 0.2 percent.
A separate report from the Labor Department showed initial jobless claims unexpectedly came in unchanged in the week ended May 5th.
The report said initial jobless claims came in at 211,000, unchanged from the previous week?s unrevised level. Economists had expected jobless claims to rise to 218,000.
At 1 pm ET, the Treasury Department is scheduled to announce the results of its auction of $17 billion worth of thirty-year bonds.
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| | Stocks in Focus |
Shares of Roku (ROKU) are moving significantly higher in pre-market trading after the video streaming company reported a narrower than expected first quarter loss and provided upbeat guidance.
Chipmaker Qualcomm (QCOM) is also seeing pre-market strength after announcing a new $10 billion stock repurchase.
On the other hand, shares of Nuance Communications (NUAN) are likely to come under pressure after the voice and language technology company reported weaker than expected second quarter earnings and gave disappointing guidance.
Travel website operator Booking Holdings (BKNG) may also move to the downside after reporting first quarter results that beat analyst estimates but providing a disappointing forecast for the current quarter. |
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| | Europe |
European stocks are little changed on Thursday as oil has extended its climb and the dollar index stood little changed against a basket of six major currencies.
While the U.K.?s FTSE 100 Index is just above the unchanged line, the French CAC 40 Index is up by 0.1 percent and the German DAX Index is up by 0.3 percent.
Trading volume has remained light across the region amid holidays in Greece, Switzerland, Austria and the Nordics for Ascension Day.
Italy's biggest bank Unicredit has advanced after its first quarter net profit increased by double digits.
Royal Bank of Scotland Group has also moved to the upside. The bank has agreed to pay a $4.9 billion penalty to settle a U.S. Justice Department investigation about the issuance of residential mortgage-backed securities.
Retailer Next Plc has also jumped after posting better than expected first quarter sales and raising its profit guidance.
Meanwhile, gold producer Randgold Resources has slumped after it reported a 22 percent decline in profits for the first quarter from last year.
Home builder Barratt Developments has also moved lower after releasing its trading update for the period from January 1st to May 6th.
On the data front, U.K. industrial production grew marginally in March, figures from the Office for National Statistics showed. Industrial output rose 0.1 percent month-on-month in March, the same pace of increase as seen in February. Output was expected to gain 0.2 percent.
The U.K. house price balance hit its lowest level since November of 2012, largely driven by the weakness in London, the Royal Institution of Chartered Surveyors reported. The house price balance came in at -8 in April after stagnating in March.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks ended broadly higher on Thursday as rallying oil prices helped lift energy stocks and U.S. President Donald Trump said he would announce the site for a summit with North Korean leader Kim Jong Un within three days.
China's Shanghai Composite Index rose 16.02 points or 0.5 percent to 3,175.17 after official data showed the country's consumer price inflation eased to a three-month low in April on weak food price growth, while producer price inflation increased for the first time in seven months on commodity prices. Hong Kong's Hang Seng Index advanced 273.08 points or 0.9 percent to 30,809.22.
Consumer prices in China were up 1.8 percent year-over-year in April. That was beneath expectations for 1.9 percent and down from 2.1 percent in March. Producer prices advanced an annual 3.4 percent, matching forecasts and up from 3.1 percent in the previous month.
Japanese shares rose on improved risk appetite as crude oil prices surged and investors digested a raft of local economic data. The Nikkei 225 Index climbed 88.30 points or 0.4 percent to 22,497.18, led by energy stocks and automakers. The broader Topix index closed 0.3 percent higher at 1,777.62.
Toyota Motor rallied 2.3 percent to reach a fresh three-month high after publishing its annual results and announcing a share buyback.
Ajinomoto jumped 4.3 percent after announcing a share buyback. Mitsubishi Motors Corp soared 9.4 percent after it forecast a 12 percent increase in operating profit in the current financial year, driven by higher vehicle sales in Asia.
In economic news, the Ministry of Finance said that Japan posted a current account surplus of 3.122 trillion yen in March, up 4.2 percent year-over-year. That beat expectations for a surplus of 2.899 trillion yen. Japan's trade balance reflected a surplus of 1.190 trillion yen, up an annual 37.6 percent.
Australian shares closed higher as a stronger Aussie dollar and surging commodity prices helped lift financial and resource stocks. The benchmark S&P/ASX 200 Index edged up 10.70 points or 0.2 percent to 6,118.70, while the broader All Ordinaries Index inched up 11.50 points or 0.2 percent to 6,215.90.
BHP Billiton, South32 and Rio Tinto gained 1-2 percent after copper prices surged overnight amid falling inventories and strong import numbers from top consumer China.
Woodside Petroleum soared 5.1 percent and Oil Search jumped 4.8 percent after oil prices rose more than 3 percent on Wednesday on data showing a bigger-than-expected drawdown in U.S. oil inventories.
Banks ANZ and Westpac eked out modest gains, while Commonwealth Bank of Australia extended losses to close 0.6 percent lower after reporting a drop in its third quarter profit.
Boral shares advanced 2.3 percent as the building products maker announced the sale of its non-core U.S. Concrete & Quarries business to Brannan Sand and Gravel Company for $127 million.
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| | Commodities |
Crude oil futures are climbing $0.43 to $71.57 a barrel after spiking $2.08 to $71.14 a barrel on Wednesday. Meanwhile, an ounce of gold is trading at $1,320.90, up $7.90 compared to the previous session?s close of $1,313. On Wednesday, gold edged down $0.70.
On the currency front, the U.S. dollar is trading at 109.45 yen compared to the 109.74 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1921 compared to yesterday?s $1.1851.
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