The market is looking ahead to the holiday season. Thursday is relatively heavy with several economic announcements. The Jobless Claims and Import and Export Prices are the important ones.
Asian shares closed mostly down, while European shares are trading broadly in the red. Initial trends at the U.S. Futures Index suggest that Wall Street might begin in the green pasture.
As of 6.25 am ET, the Dow futures were up 36 points, the S&P 500 futures were adding 2.75 points and the Nasdaq 100 futures were gaining 9.75 points.
U.S. stocks closed mixed on Wednesday. Dow Jones Industrial average hit a record high up 80.63 points or 0.33 percent at 24,585.43. S&P 500 closed down 1.26 points or 0.05 percent, while Nasdaq gained 0.2 percent to close at 6871.87, up 13.48 points.
On the economic front, the Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The consensus is for 239K, compared to 236K in the prior week.
Retail sales for November will be published at 8.30 am ET. The economists are looking for consensus of 0.3 percent. In the previous month the retail sales were up 0.2 percent.
The Labor Department’s Import and Export Prices for November is expected at 8.30 am ET. The consensus is for 0.7 percent, while the import prices in October was up 0.2 percent. Export prices for the month is expected to increase 0.3 percent.
The flash Composite Purchasing Managers’ Index or PMI for December is scheduled at 9.45 am ET. In the previous month, the composite level was 54.6.
The Commerce Department’s Business Inventories for October was 10.00 am ET. The consensus was for a decline of 0.1 percent.
The Energy Information Administration or EIA’s Natural Gas Report for the week will be released at 10.30 am ET. The weekly change in the previous week was 2 bcf.
Five-year Treasury inflation-indexed securities or TIPS auction will be held at 11.00 am ET.
The Fed Balance Sheet for the week will be released at 4.30 pm ET. The prior week level was $4.437…