Here are the top stories to read ahead of Thursday trading:
Latest Updates
Here are some of the potential market catalysts due Thursday for traders to consider:
8:30 a.m. Eastern. U.S. weekly initial jobless claims.
8:30 a.m. U.S. retail sales for July.
8:30 a.m. Empire State manufacturing survey for August
8:30 p.m. Philadelphia Fed manufacturing survey for August.
8:30 a.m. U.S. import price index for July.
9:10 a.m. St. Louis Fed President Alberto Musalem speaks on the economy and monetary policy.
9:15 a.m. U.S. industrial production for July.
9:15 a.m. U.S. capacity utilization for July.
10:00 a.m. U.S. business inventories for June.
1:00 p.m. Philadelphia Fed President Patrick Harker makes comments.
How are stock-index futures trading:
S&P 500 futures are up 0.1%.
Dow Jones Industrial Average futures are adding 0.2%.
Nasdaq 100 futures are advancing 0.2%.
On Wednesday, the Dow Jones Industrial Average rose 243 points, or 0.61%, to 40,008, the S&P 500 increased 21 points, or 0.38%, to 5,455, and the Nasdaq Composite gained 5 points, or 0.03%, to 17,193.
Futures indicate U.S. stocks may extend their winning streak to six days, helped by a well-received earnings report from Cisco Systems, whose shares are adding more than 6% in premarket action.
The S&P 500 has responded to registering on August 5 its worst daily slide since 2022, by consolidating and then powering ahead by 4.9% over the past five sessions as worries about a U.S. recession faded and volatility from liquidation of yen carry trade positions subsided.
Investors also have become more relaxed about the prospects for monetary policy, with recent benign inflation data cementing the chances of an interest rate reduction by the Federal Reserve in September.
The next hurdles for traders are Walmart’s results and retail sales data, both due before the opening bell rings on Wall Street.
“U.S. retail sales and the latest numbers from Walmart will tell the market plenty about the state of U.S. consumer demand and whether recent fears over recession have much credence to them,” said Danni Hewson, head of financial analysis at AJ Bell.
