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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 slightly higher opening on Thursday, with stocks likely to continue to show a lack of direction following the mixed performance seen in the previous session.
Traders may remain reluctant to make significant moves as they weigh lingering trade war concerns against largely upbeat corporate earnings news.
Stocks showed a lack of direction during trading on Wednesday after trending higher over the past few sessions. The major averages spent the day bouncing back and forth across the unchanged line.
The major averages eventually ended the session mixed. While the Nasdaq inched up 4.66 points or 0.1 percent to 7,888.33, the Dow dipped 45.16 points or 0.2 percent to 25,583.75 and the S&P 500 edged down 0.75 points or less than a tenth of a percent to 2,857.70.
The choppy trading on Wall Street came following the Chinese Ministry of Commerce's announcement of 25 percent tariff on $16 billion worth of U.S. goods.
The goods being targeted by China include large passenger cars and motorcycles as well as various fuels and fiber optical cables.
The announcement by China came after the U.S. finalized a list of approximately $16 billion worth of Chinese imports that will be subject to a 25 percent tariff.
The second tranche of tariffs, which are due to take effect on August 23rd, follows the first tranche of tariffs on approximately $34 billion of Chinese imports that went into effect on July 6th.
Traders seemed reluctant to make any significant moves amid another quiet day on the U.S. economic front.
Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets.
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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 edged lower in the week ended August 4th, according to a report released by the Labor Department.
The report said initial jobless claims dipped to 213,000, a decrease of 6,000 from the previous week?s revised level of 219,000.
Economists had expected jobless claims to inch up to 220,000 from the 218,000 originally reported for the previous week.
A separate report released by the Labor Department showed producer prices unexpectedly came in unchanged in the month of July.
The Labor Department said its producer price index was unchanged in July after rising by 0.3 percent in June. Economists had expected producer prices to increase by 0.2 percent.
Excluding food and energy prices, the core producer price index inched up by 0.1 percent in July after climbing by 0.3 percent in the previous month. Core prices had been expected to rise by 0.2 percent.
At 10 am ET, the Commerce Department is scheduled to release its report on wholesale inventories in the month of June. Wholesale inventories are expected to come in unchanged.
The Treasury Department is due to announce the results of its auction of $18 billion worth of thirty-year bonds at 1 pm ET. |
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| | Europe |
European stocks fell on Thursday, as investors remained focused on the U.S.-China trade spat as well as the new U.S. sanctions on Russia.
The Russian rouble sank to hover near its lowest level in nearly two years and the Turkish lira hit a fresh record low, reflecting rising geopolitical tensions.
The pan-European Stoxx Europe 600 index was down 0.15 percent at 389.09 in late opening deals after declining 0.2 percent on Wednesday.
The German DAX was marginally lower, France's CAC 40 index was moving down 0.3 percent and the U.K.'s FTSE 100 was losing 0.6 percent.
Swiss staffing firm Adecco dropped 2.8 percent after its Q2 net profit fell to
170 million euros from 192 million euros last year.
Zurich Insurance gained half a percent. The company reported a 19 percent increase in first-half profit, helped by lower expenses and improved underwriting in its property and casualty business.
German reinsurance giant Hannover rallied 2.5 percent and sportswear firm Adidas soared as much as 8 percent after confirming their full-year outlook.
TUI lost 8 percent. The travel and tourism company backed guidance after reporting a drop in third-quarter underlying earnings before interest, tax and amortization.
Copper producer Aurubis gave up 4.4 percent after its second-quarter profit came in below expectations.
Pharmaceutical group Merck KGaA tumbled 3.1 percent in Frankfurt after its adjusted core earnings fell 13.7 percent in the second quarter.
Legal & General shares dropped 1.7 percent in London. The insurance, pension and investment group reported a 9 percent drop in first-half pre-tax profit as market volatility weighed on the performance of its investment portfolio.
Randgold Resources fell over 1 percent after its Q2 net profit declined 38 percent on lower revenue.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks ended mixed on Thursday after China announced retaliatory tariffs against the United States, raising concerns over the escalation of the trade war between the world's top two economies.
A slump in oil prices overnight and the U.S. announcement that it would soon impose new sanctions on Russia also kept investors nervous.
Chinese stocks rallied after a government report showed consumer inflation in the country rose an annual 2.1 percent in July, exceeding expectations for 2.0 percent and up from 1.9 percent in June.
The producer price index climbed 4.6 percent from last year - beating forecasts for 4.5 percent and down from 4.7 percent in the previous month.
The benchmark Shanghai Composite index jumped 50.31 points or 1.83 percent to 2,794.38 while Hong Kong's Hang Seng index gained 0.88 percent to close at 28,607.30.
Japanese shares fell as machinery orders data disappointed and caution crept in ahead of U.S.-Japan trade talks. The Nikkei average slid 45.92 points or 0.20 percent to 22,598.39, while the broader Topix index closed 0.26 percent lower at 1,740.16.
Suzuki Motor slumped over 6 percent, Yamaha Motor tumbled 4.6 percent and Mazda Motor Corp dropped 1.3 percent after they have admitted using falsified emissions data to inspect their vehicles.
Pioneer Corp soared 12.7 percent after reports that the electronics manufacturer is seeking for financial assistance to improve its business. Chemical engineering firm Showa Denko rallied 9.5 percent after raising its profit outlook for the fiscal year through December.
On the data front, the total number of core machine orders in Japan tumbled a seasonally adjusted 8.8 percent on month in June, the Cabinet Office said today. That was well shy of forecasts for a drop of 1.0 percent after a 3.7 percent decline in May.
On a yearly basis, core machine orders added 0.3 percent - again missing expectations for a spike of 10.5 percent.
Australian shares rose notably, with both the S&P/ASX 200 and the All Ordinaries index rising around half a percent to close at 6,297.70 and 6,383.60, respectively.
Banking and insurance retailer Suncorp jumped 4.7 percent after it agreed to sell its life insurance division to Japanese insurer Dai-ichi Life Holdings.
The big four banks rose between 0.8 percent and 1.2 percent while oil & gas producer Santos lost 2.3 percent. Power producer AGL Energy dropped 4.1 percent despite the company posting robust results for 2017/18 because of accounting and hedging changes.
Casinos operator Crown soared 6.7 percent after it filed a lawsuit to stop the government approving developments that obstruct views from its new Sydney resort of the Sydney Opera House and Harbour Bridge.
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| | Commodities |
In commodities trading, crude oil futures are inching up $0.13 to $67.07 a barrel after plunging $2.23 to $66.94 a barrel on Wednesday. Meanwhile, an ounce of gold is trading at $1,224.20, up $3.20 compared to the previous session?s close of $1,221. On Wednesday, gold rose $2.70.
On the currency front, the U.S. dollar is trading at 111.04 yen compared to the 110.98 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1592 compared to yesterday?s $1.1610.
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