BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The market might be reacting to breakdown of talks between President Donald Trump the North Korean leader Kim Jong-un. The second high level summit of the leaders in Hanoi, Vietnam collapsed as Kim insisted on lifting U.S. sanctions entirely.
Initial cues from the U.S. Futures Index suggest that Wall Street might be opening moderately lower.
Asian shares finished mostly in the red, while European shares are trading broadly lower.
Fourth quarter GDP, Jobless Claims and a slew of Fed talks are the highlights on the economic front.
Fitbit, Hostess Brands, HP Inc., L Brands, and Square are among the companies releasing their quarterly results after the close of today's trading.
As of 7.55 am ET, the Dow futures were slipping 24 points, the S&P 500 futures were shedding 5.5 points and the Nasdaq 100 futures were slipping 21.50 points.
The U.S. stocks closed mixed on Wednesday. The Nasdaq inched up 5.21 points or 0.1 percent to 7,554.51, the Dow fell 72.82 points or 0.3 percent to 25,985.16 and the S&P 500 edged down 1.52 points or 0.1 percent to 2,792.38.
On the economic front, the Commerce Department's GDP for the fourth quarter will be published at 8.30 am ET. The consensus is for an increase of 2.2 percent, while it grew 3.4 percent in the prior quarter. GDP Price Index for the quarter is expected to grow 1.7 percent, down from 1.8 percent in the previous quarter.
The Labor Department's Jobless Claims for the week will be issued at 8.30 am ET. The economists are looking for consensus of 225K while it was 216K in the previous week.
Atlanta Federal Reserve Bank President Raphael Bostic will participate in a panel about 'Economic and Housing Landscape' at the 2019 Banking Outlook Conference in Atlanta, GA, with audience Q&A at 8.50 am ET.
The Chicago PMI for February will be issued at 9.45 am ET. The consensus is for 56.1, versus 56.7 in the previous month.
The Energy Information Administration's (EIA) Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the change was a deficit of 177 bcf.
Philadelphia Federal Reserve Bank President Patrick Harker will deliver a speech on economic outlook at the Philadelphia Inquirer's Influencers of Finance in Philadelphia, Pennsylvania at 12.15 pm ET.
Dallas Federal Reserve Bank President Rob Kaplan will participate in a moderated Q&A at the Real Estate Council of San Antonio in San Antonio, TX at 1.00 pm ET.
The Agriculture Department's Farm Prices for January will be issued at 3.00 pm ET. In the prior month, the Farm Prices were up 1.8 percent.
The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the previous week, the level was $3.981 trillion.
The Fed Money Supply for week is scheduled at 4.30 pm ET. The M2 weekly change was $6.8 billion.
In the corporate sector, Myers Industries, Inc. Thursday reported a turnaround to profit in the fourth quarter as a decline in sales was offset by lower costs and wider margins. Both revenue and adjusted earnings for the quarter beat analysts' estimates. Looking ahead, the company forecast fiscal 2019 earnings in line with expectations.
The company's net income for the fourth quarter was $2.34 million or $0.07 per share, compared to net loss of $18.25 million or $0.59 per share in the year-ago period. Excluding items, adjusted income from continuing operations for the quarter was $0.13 per share, compared to $0.09 per share in the year-ago period. Net sales for the quarter decreased 1.2 percent to $138.39 million from $140.11 million in the year-ago period.
Asian stocks ended Thursday's session mostly lower. Chinese shares fell in view of weak data. The benchmark Shanghai Composite index dropped 12.87 points or 0.44 percent to 2,940.95 while Hong Kong's Hang Seng index ended down 0.43 percent at 28,633.18.
Japanese shares fell. The Nikkei average fell 171.35 points or 0.79 percent to 21,385.16 while the broader Topix index closed 0.79 percent lower at 1,607.66.
In economic news, industrial production in Japan fell a seasonally adjusted 3.7 percent month on month in January, a government report showed.
Australian markets eked out modest gains. The benchmark S&P/ASX 200 index rose 18.70 points or 0.30 percent to 6,169. The broader All Ordinaries index ended up 19.10 points or 0.31 percent at 6,252.70.
European shares are trading lower. CAC 40 of France is declining 1.02 points or 0.11 percent. DAX of Germany is down 12.55 points or 0.11 percent. FTSE 100 of England is slipping 32.97 points or 0.47 percent. Swiss Market Index is dropping 58.41 points or 0.62 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.02 percent.
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