Wall Street Aims To Bounce Back

As the Russian invasion is progressing, Ukrainian President Volodymyr Zelensky said, “millions of people may starve” if the blockade continues in the ports.

Brent Crude is still on a surge. Early signs from the U.S. Futureas Index suggest that Wall Street might open higher on Thursday.

As of 7.30 am ET, the Dow futures were up158.00 points, the S&P 500 futures were adding 20.75 points and the Nasdaq 100 futures were progressing 70.25 points.

The U.S. major averages all ended notably lower on Wednesday. The Dow ended lost 269.24 points or 0.81 percent at 32,910.90 after staying in the red right through the day’s session. The S&P 500 closed lower by 44.91 points or 1.08 percent at 4,115.77.

On the economic front, the Labor Department’s Jobless Claims for the week will be revealed at 8.30 am ET. The consensus is 210K, while it was up 200K in the previous week.

The Energy Information Administration or EIA’s Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the gas stock was up 90 bcf.
Thirty-year Treasury Bond Auction will be held at 1.00 pm ET.

The Fed Balance Sheet is scheduled at 4.30 pm ET. In the prior week, the level was at $8.915 trillion.

Asian stocks ended lower on Thursday. China’s Shanghai Composite index lost 0.76 percent to close at 3,238.95. Hong Kong’s Hang Seng index closed 0.66 percent lower at 21,869.05.

Japanese shares finished little changed. The Nikkei average inched up by 12.24 points to 28,246.53 while the broader Topix index slipped marginally to close at 1,969.05.

Australian markets fell sharply to end near four-week lows. The benchmark S&P/ASX 200 fell 1.42 percent to 7,019.70 while the broader All Ordinaries index ended down 1.45 percent at 7,240.40.

European shares are trading lower. CAC 40 of France is losing 19.49 points or 0.30 percent. DAX of Germany is down 89.74 points or 0.62 percent. FTSE 100 of England is sliding 29.88 points or 0.39 percent. Swiss Market Index is declining 21.05 points or 0.18 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.38 percent.

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