Wall Street Might Turnaround At Open

(RTTNews) - The weekly jobless claims and manufacturing activity might be the focus on Thursday. Earnings reports of Meta Platforms (META) and Microsoft (MSFT) also might be important.

Early cues from the U.S. Futures Index suggest that Wall Street might open higher.

As of 8.15 am ET, the Dow futures were gaining 318.00 points, the S&P 500 futures were progressing 69.50 points and the Nasdaq 100 futures were surging 362.75 points.

The U.S. major averages closed lower on Wednesday. The Nasdaq ended the day down 14.98 points or 0.1 percent at 17,446.34, the S&P 500 rose 8.21 points or 0.2 percent to 5,569.06 and the Dow climbed 141.74 points or 0.4 percent to 40,669.36.

On the economic front, the Jobless Claims for the week will be issued at 8.30 am ET. The consensus is 221K, while it was up 222K in the prior week.

The ISM Manufacturing Index for April will be released at 10.00 am ET. The consensus is 47.9, while it was up 49.0 in the prior month.

The Construction Spending for March will be shared at 10.00 am ET. The consensus is up 0.2 percent, while it was up 0.7 percent in February.

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 88 bcf.

The Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the Level was up $6.727 trillion.

Asian stock markets finished mixed on Thursday. Major markets in the region were closed for Labor Day, including China and Hong Kong.

The Australian market is trading modestly higher. The benchmark S&P/ASX 200 gained 0.24 percent.

The Japanese market is trading notably higher. The benchmark Nikkei 225 Index closed the morning session at 36,241.70, up 196.32 points or 0.54 percent.