Initial Futures Trading Reflects Market Worries

The Labor Department’s Jobless Claims and the GDP are the major announcements on Thursday. The market expects reflections of the hurricane impact on the major indices. The geo-political scenario continue to be turbid. Initial trading on the U.S. Futures Index suggest that Wall Street might open lower. Asian shares closed mixed while European shares are trading higher.

As of 7.15 am ET, the Dow futures were slipping 17 points, the S&P 500 futures were shedding 1.75 points and the Nasdaq 100 futures were slipping 5.75 points.

U.S. stocks closed in positive territory. The Nasdaq jumped 73.10 points or 1.2 percent to 6,453.26, the Dow rose 56.39 points or 0.3 percent to 22,340.71 and the S&P 500 climbed 10.20 points or 0.4 percent to 2,507.04.

On the economic front, the Commerce Department’s Gross Domestic Product data for the second quarter will be released at 8.30 am ET. The economists are looking for real GDP growth consensus of 3.1 percent, compared to 3.0 percent in the prior quarter. Real consumer spending is projected to be unchanged at 3.3 percent.

The Census Bureau’s International Trade in Goods for August will be revealed at 8.30 am ET. The consensus is for a deficit of $65.7 billion, compared to $65.1 billion in the prior year.

The Labor Department’s Jobless Claims for the week will be published at 8.30 am ET. The consensus is for as growth to 275K from 259K in the previous week.

Kansas City Federal Reserve Bank President Esther George will speak on the U.S. Economy and Monetary Policy at the Banking and the Economy: A Forum for Minority Bankers in Kansas City at 9.45 am ET.

The 7- year Treasury Note Auction will be held at 1.00 pm ET.

The Agriculture Department’s Farm Prices for August will be released at 3.00 pm ET. In the prior month, the Farm Prices declined 2.9 percent.

The Fed Balance Sheet for the week is expected at 4.30 pm ET. The level was at $4.459 trillion in the prior week.

In the corporate sector, Accenture plc (ACN) said its fourth quarter…

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