Futures in the United States are cautiously mixed following the Fed’s induced retreat.


Futures in the United States are cautiously mixed following the Fed’s induced retreat.

US stock futures were narrowly mixed Thursday, with the technology-heavy Nasdaq Composite set for another round of losses after minutes from the Federal Reserve’s most recent policy meeting signaled a faster pace for stimulus withdrawal and interest rate hikes, while traders looked ahead to a series of US economic readings.

The Dow Jones Industrial Average futures rose 0.3 % , the S&P 500 futures rose 0.1 % , while the Nasdaq futures fell 0.3 % .

Following the release of the Fed minutes, all major equity indices closed down on Wednesday.

Front-month global benchmarks Brent crude and West Texas Intermediate crude both rose more than 1% as official data showed a weekly drop in US petroleum inventory.

Data is likely to be released at 8:30 a.m., showing that the US trade deficit increased to $81 billion in November, up from $67.1 billion the previous month. According to Bloomberg data, new unemployment claims are expected to total 195,000 in the week beginning January 1st, up from 198,000 the previous week.

A data on factory orders is set to be released at 10 a.m., with forecasts predicting a 1.5 % increase for November, following a 1 % increase in October. The Institute for Supply Management’s services index is expected to be 67 in December, down from 69.1 the previous month.

Other US News :

Initial Jobless Claims in the United States rebounded in the week ending January 1st.

Initial unemployment claims in the United States increased to 207,000 in the holiday week ending January 1 from an upwardly revised 200,000 figure the previous week, compared to a decline to 195,000 predicted by a Bloomberg survey of economists.

After dipping by 6,750 the previous week, the four-week moving average increased by 4,750 to 204,500.

In the holiday week ending December 25, insured jobless claims increased by 36,000 to 1,754,000.

Source: XglobalMarkets

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