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U.S. stock futures are trading mixed on Thursday following a decline on Wednesday, with no significant movements across major benchmark indices.
The futures markets remain calm ahead of the weekly jobless claims data that are set to be released on Thursday, offering an essential economic data point to influence monetary decisions by the Federal Reserve.
This comes as several regional Federal Reserve officials are scheduled to speak on Thursday, offering their outlook on the economy and monetary policies.
See Also: The Fed May Cut Less Than You Think, And That Could Hit Stocks Hard: Oxford Economics
Meanwhile, the 10-year Treasury bond yielded 4.139% and the two-year bond was at 3.604%. The CME Group’s FedWatch tool‘s projections show markets pricing a 91.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
| Futures | Change (+/-) |
| Dow Jones | +0.11% |
| S&P 500 | -0.06% |
| Nasdaq 100 | -0.13% |
| Russell 2000 | -0.06% |
The SPDR S&P 500 ETF Trust (NYSE: SPY) and the Invesco QQQ Trust ETF (NASDAQ: QQQ), which track the S&P 500 index and the Nasdaq 100, respectively, are flat in pre-market trade, according to Benzinga Pro data.
Most S&P 500 sectors were in the red on Wednesday, with materials, real estate, and communications leading the way, while energy, utilities and consumer discretionary inched up.
The Nasdaq Composite fell 77 points during the session, followed by the S&P 500, down 19 points, and the Dow Jones Industrial Average by 171.50.
Among specific movers, Intel Corp. (NASDAQ: INTC) rallied 6.41% on Wednesday, following reports that the company was seeking an investment from Apple Inc. (NASDAQ: AAPL) as part of its turnaround attempts.
The New Home Sales data on Wednesday came in significantly ahead of estimates at 800,000, ahead of the median forecast at 649,000, and the prior quarter figures at 664,000.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | -0.33% | 22,497.86 |
| S&P 500 | -0.28% | 6,637.97 |
| Dow Jones | -0.37% | 46,121.28 |
| Russell 2000 | -0.92% | 2,434.98 |
Analyst Mike Zaccardi highlighted results from the American Association of Individual Investors, which he notes maintains a bullish percentage similar to the previous week. Of the individual investors polled, 41.7% poll bullish, with 19.1% neutral and 39.2% bearish.
Similarly, 27% of the AAII say there is a “higher than normal” chance of a recession before the end of this fiscal year, while most continue to believe that the probabilities are “unlikely.”
Here’s what investors will be keeping an eye on Thursday;
Crude oil futures were trading lower in the early New York session by 0.46%, hovering around $64.69 per barrel.
Gold Spot US Dollar rose 0.59% to hover around $3,756.88 per ounce. Its last record high stood at $3,788.33 per ounce. The U.S. Dollar Index spot is down 0.08% at 97.7833 at the time of writing.
Asian markets were deep in the red on Thursday, barring Japan’s Nikkei 225, and China’s Shanghai and Shenzhen. European markets were all lower in early trade.
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