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Wall Street To Open In Red

(RTTNews) - Early signs from the U.S. Futures suggest that Wall Street might open significantly lower. The oil price changes and geopolitical scenario are closely watched by the investors.

The Jobless Claims, Factory Orders as well as Fed Balance Sheet and Fed Money Supply are the important economic reports scheduled on Thursday.

As of 7.45 am ET, the Dow futures were down 97.00 points, the S&P 500 futures were losing 11.75 points and the Nasdaq 100 futures were declining 45.25 points.

U.S. stocks closed in positive territory on Thursday. The Dow rose 54.45 points or 0.2 percent to 26,828.39, the Nasdaq climbed 25.54 points or 0.3 percent to 8,025.08 and the S&P 500 inched up 2.08 points or 0.1 percent to 2,925.51.

On the economic front, the Labor Department's Jobless Claims for the week will be published at 8.30 am ET. The consensus for 213K, slightly down from 214K in the prior week.

The Commerce Department's Factory Orders for August will be issued at 10.00 am ET. The consensus is for 2.1 percent growth, versus a decline of 0.8 percent in July.

The Energy Information Administration or EIA's Natural Gas Report will be published at 10.30 am ET. The prior week's change was 46 bcf.

Three year and 10-year Treasury Notes and 30-year Treasury Bond auction will be held at 11.00 am ET.

Treasury's Separate Trading of Registered Interest and Principal of Securities or STRIPS auction will be held at 3.00 pm ET.

The Fed Balance sheet for the week will be released at 4.30 pm ET. The prior week's level was $4.193 trillion.

Fed Money Supply for the week will be revealed at 4.30 pm ET. The M2 weekly change was $18.0 billion.

Federal Reserve Vice Chairman for Supervision Randal Quarles will give a speech on "Trends in Urban and Rural Community Banks" as the morning keynote address at the Community Banking in the 21st Century conference in St. Louis, MO, with audience Q&A at 8.15 am ET.

In the corporate sector, VF Corp. announced that it has entered into a definitive agreement to sell the Reef brand to the Rockport Group (Rockport) of Newton, Massachusetts. Reef will operate as an independent global brand under the Rockport Group, and will maintain its Carlsbad, California, headquarters.

Asian stocks ended mostly lower on Thursday. The Chinese markets remain closed all week for the National Day holiday. Hong Kong's Hang Seng index plunged 483.15 points or 1.78 percent to 26,608.11.

Japanese shares closed lower. The Nikkei average dropped 135.34 points or 0.56 percent to 23,975.62 while the broader Topix index closed marginally lower at 1,801.19.

Australian shares ended higher, led by financials and resource stocks. The benchmark S&P/ASX 200 index rose 30.20 points or 0.49 percent to 6,176.30 while the broader All Ordinaries index ended up 28.70 points or 0.46 percent at 6,293.90.

On the data front, Australia's trade surplus increased in August on higher exports, data from the Australian Bureau of Statistics showed. The trade surplus rose to a seasonally adjusted A$1.6 billion from A$1.55 billion in July. Economists had forecast a fall in surplus to A$1.45 billion.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining points or 0.15 percent, the German DAX is losing 11.71 points or 0.10 percent, the U.K. FTSE 100 Index is sliding 65.53 points or 0.87 percent. The Swiss Market Index is declining 55.59 points or 0.61 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.03 percent.
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