US Stock Futures Edge Lower Ahead Of Jobless Claims, Fed Speakers

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade on Thursday after the Dow Jones dropped by around 40 points in the previous session. US stocks saw a major surge earlier during the week, with the S&P 500 index recording its biggest two-session rise since 2020.

The Challenger job-cut report for September is scheduled for release at 7:30 a.m. ET, while data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Jobless claims are projected to come in at 203,000 for the October 1 week compared to 193,000 in the previous week.

Federal Reserve board governor Lisa Cook and Federal Reserve Bank of Chicago President Charles Evans will speak at 1:00 p.m. ET. Federal Reserve Governor Christopher Waller is set to speak at 5:00 p.m. ET, while Federal Reserve Bank of Cleveland President Loretta Mester will speak at 6:30 p.m. ET.

Check out this: Volatility In Markets Decreases Further, Here's Why

Futures for the Dow Jones Industrial Average dropped 66 points to 30,244.00 while the Standard & Poor’s 500 index futures fell 10 points to 3,784.00. Futures for the Nasdaq index fell 29.50 points to 11,594.25.

Commodities

Oil prices traded higher as Brent crude futures rose 0.3% to trade at $93.69 per barrel, while US WTI crude futures rose 0.2% to trade at $87.97 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.

Gold futures rose 0.3% to trade at $1,725.80 an ounce, while silver traded up 0.2% at $20.585 an ounce on Thursday.

 

A Peek Into Global Markets

Europe Markets

European markets were mostly higher today. The STOXX Europe 600 Index rose 0.3%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index rose 0.2%. The French CAC 40 Index rose 0.2%, while German DAX gained 0.4%.

The S&P Global Eurozone construction PMI rose to 45.3 in September from 44.2 in the previous month, recording contraction for the fifth straight month. The S&P Global/CIPS UK construction PMI climbed to 52.3 in September from 49.2 in the prior month.

Passenger car registrations in France surged 5.5% year-over-year to 141,142 units in September, while construction PMI rose to 49.1 in September from 48.2 a month ago. German construction PMI declined to 41.8 in September from 42.6 in August, while factory orders in Germany slipped 2.4% month-over-month in August. The S&P Global Italy construction PMI surged to 46.7 in September from 41.2 in August. Industrial production in Spain climbed 5.5% year-over-year in August


Asia-Pacific Markets

Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.7%, while Hong Kong’s Hang Seng Index fell 0.42%. Australia’s S&P/ASX 200 rose 0.03%, while India’s BSE Sensex gained 0.6%.

The S&P Global Indian services PMI fell to 54.3 in September from August’s reading of 57.2, while composite PMI fell to 55.1 from 58.2. The S&P Global Hong Kong’s PMI declined to 48.0 in September from 51.2 a month ago. Australian trade surplus narrowed to a six-month low level of AUD 8.32 billion in August 2022 versus a revised AUD 8.97 billion in the prior month.

 

Broker Recommendation

Raymond James maintained Intercontinental Exchange, Inc. ICE with a Strong Buy and lowered the price target from $129 to $123.


Intercontinental Exchange shares fell 0.8% to close at $93.41 on Wednesday.

Check out this: Ethereum Remains Above This Major Level, Here Are Other Crypto Movers That Should Be On Your Radar Today

 

Breaking News

 

  • Costco Wholesale Corporation COST reported an 8.5% year-over-year surge in comparable sales for September. Its net sales for the retail month of September, the five weeks ended October 2, 2022, jumped 10.1% year-over-year to $21.46 billion during the month.
  • Hyatt Hotels Corporation H reported an exclusive collaboration agreement with Lindner Hotels AG, to significantly increase brand footprint in Germany and key European leisure destinations.
  • Ford Motor Company F is reportedly raising the price of its electric truck F-150 Lightning Pro for its 2023 model by close to 11%, in a bid to soften the hit from ongoing supply chain snags and decades-high inflation, Reuters reported.
  • Richardson Electronics, Ltd. RELL posted better-than-expected results for its first quarter.

Check out other breaking news here

 

Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsEurozoneFuturesGlobalPre-Market OutlookMarketsTrading IdeasA Peek Into The Markets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...