WASHINGTON (dpa-AFX) - Asian shares finished mostly lower, while European shares are trading down. Early cues from the U.S. Futures Index suggest that Wall Street might open lower on Thursday morning.
The second wave of coronavirus in Europe and the restrictions to curb the pandemic are really worrying the investors. Fed has noted that the recovery is robust, however, the economy is still in a deep hole.
As of 8.00 am ET, the Dow futures were declining 93.00 points, the S&P 500 futures were down 14.25 points and the Nasdaq 100 futures were sliding 87.75 points.
U.S. stocks tumbled overnight on Thursday. The Dow tumbled 525.05 points or 1.9 percent to 26,763.13, the Nasdaq plummeted 330.65 points or 3 percent to 10,632.99 and the S&P 500 plunged 78.65 points or 2.4 percent to 3,236.92.
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 880K, while it was up 860 K in the prior week.
The Commerce, Housing and Urban Development department's New Home Sales for August will be released at 10.00 am ET. The consensus is for 875K, down from 901K in the previous month.
The Energy Information Administration or EIA's Natural Gas Report for the week will be revealed at 10.30 am ET. In the prior week, the gas stock was up 89 bcf. Seven-year Treasury Note auction will be held at 1.00 pm ET.
The Fed Balance Sheet for the week will be published at 4.30 pm ET. In the prior week, the level was at $7.064 trillion.
Fed Money Supply for the week will be issued at 4.30 pm ET. In the prior week, the M2 weekly change was $112.2 billion.
Dallas Federal Reserve Bank President Robert Kaplan will speak in a moderated Q&A session in a Texas Christian University Tandy Executive Speakers Series virtual event at 8.50 am ET.
Federal Reserve Chairman Jerome Powell will testify with Treasury Secretary Steven Mnuchin on 'The Quarterly CARES Act Report to Congress' before the Senate Banking Committee at 10.00 am ET.
St. Louis Federal Reserve Bank President James Bullard will speak at a Global Interdependence Center virtual event on the U.S. economy and monetary policy at 12.00 pm ET.
Richmond Federal Reserve Bank President Thomas Barkin will speak to the Money Marketeers of New York University at 1.00 pm ET.
Chicago Federal Reserve Bank President Charles Evans to speak about current economic conditions and monetary policy at the annual meeting of the Illinois Chamber of Commerce at 1.00 pm ET.
Atlanta Federal Reserve Bank President Raphael Bostic to speak about 'Systemic Racism: Leaving Talent on the Table and Shortchanging our Economy' at the 'Banking and the Economy: a Forum for Minorities in Banking' virtual conference at 2.00 pm ET.
Asian stocks ended lower on Thursday. Chinese shares followed Wall Street lower on economic recovery concerns. The benchmark Shanghai Composite index dropped 56.53 points, or 1.72 percent, to 3,223.18, while Hong Kong's Hang Seng index fell 431.44 points, or 1.82 percent, to 23,311.07.
Japanese shares fell sharply. The Nikkei average slipped 258.67 points, or 1.11 percent, to 23,087.82, while the broader Topix index closed 1.08 percent lower at 1,626.44.
Australian stocks fell notably. The benchmark S&P/ASX 200 index dropped 48 points, or 0.81 percent, to 5,875.90 after climbing 2.4 percent in the previous session. The broader All Ordinaries index ended down 54.80 points, or 0.90 percent, at 6,056.50.
European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is progressing 0.34 points or 0.01 percent. The German DAX is adding 21.22 points or 0.17 percent, the U.K. FTSE 100 Index is losing 11.62 points or 0.20 percent.
The Swiss Market Index is down 83.96 points or 0.81 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.12 percent.
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