The weekly jobless claims might be the key economic data to be released on Thursday. The bond and currency markets are also under the scanner.
Research reports predicting a probable recession are getting the attention of investors. According to reports, there could be high inflation, and rate increase by next year.
Russia declared that it would annex four regions of Ukraine to its territory.
Early cues from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares were mixed, and the European shares are sliding.
As of 7.58 am ET, the Dow futures were down 30.50 points, the S&P 500 futures were declining 30.50 points and the Nasdaq 100 futures were sliding 132.50 points.
The U.S. major averages gained at the close on Wednesday. The Dow surged 548.75 points or 1.9 percent to 29,683.74, the Nasdaq skyrocketed 222.13 points or 2.1 percent to 11,051.64, and the S&P 500 spiked 71.75 points or 2.0 percent to 3,719.04.
On the economic front, the Gross Domestic Product for the second quarter will be shared at 8.30 am ET. The consensus is for a decline of 0.6 percent, while it was down 0.6 percent in the prior quarter.
The Labor Department’s Jobless Claims for the week is scheduled at 8.30 am ET. The consensus is 218K, while it was up 213K in the previous month.
The Corporate Profits for the second quarter will be revealed at 8.30 am ET. In the prior year, the after-tax profits were up 11.9 percent.
The Energy Information Administration or EIA’s Natural Gas Report for the week is scheduled at 10.30 am ET.
The Fed Balance Sheet for the week will be published at 4.30 pm ET. In the prior week, the level was at $8.817 trillion.
Cleveland Federal Reserve Bank President Loretta Mester will participate in a policy panel before the hybrid Inflation: Drivers and Dynamics Conference 2022 co-hosted by the Federal Reserve Bank of Cleveland’s Center for Inflation Research at 1.00 pm ET.
San Francisco Federal Reserve Bank President Mary Daly will give a policy presentation at Boise State University at 4.45 pm ET.
Asian stocks finished mixed on Thursday. Chinese shares ended on a flat note. The benchmark Shanghai Composite index finished 0.13 percent lower at 3,041.20.
Hong Kong’s Hang Seng index ended down 0.49 percent at 17,165.87.
Japanese shares advanced. The Nikkei average rose 0.95 percent to 26,422.05 while the broader Topix index ended 0.74 percent higher at 1,868.80.
Australian markets rallied. The benchmark S&P ASX 200 gained 1.44 percent to settle at 6,555 while the broader All Ordinaries index added 1.51 percent to close at 6,760.60.
European shares are trading in negative territory. CAC 40 of France is down 66.13 points or 1.15 percent. DAX of Germany is declining 143.42 points or 1.17 percent. FTSE 100 of England is sliding 56.04 points or 0.80 percent. Swiss Market Index is declining 112.23 points or 1.09 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.13 percent.
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