Brief: U.S. Stock Futures Open Modestly Higher


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U.S. stock futures are pointing to a modestly higher open and the potential for a fourth day of gains. The S&P 500 has gained 1 percent or more for three straight sessions, the first time that’s occurred since October 2011, and also exited correction territory with Wednesday’s gains. The Dow briefly wiped out its February losses during yesterday’s session and is currently only 12-1/2 points below breakeven for the month. (CNBC)

According to CNBC:

U.S. stock index futures indicated a higher open on Thursday as traders eyed oil and continued to digest the release of minutes from the Federal Reserve’s last meeting.

Oil rose on Wednesday after more reports about a preliminary accord among some major oil producing nations to freeze production. In oil markets on Thursday, Brent crude traded at $35.26 a barrel, up 2.2 percent, while U.S. crude was at $31.40 a barrel, up 2.5 percent.

Dow futures briefly gained about 100 points, while S&P and Nasdaq futures also pointed to a higher open.

Weekly jobless claims came in at 262,000. The Philly Fed came in at minus 2.8 for February.

Leading indicators are due at 10:00 a.m.

The Fed minutes, released on Wednesday, signaled that its members see risks increasing. Most U.S. central bank officials were still looking to raise rates and even discussed whether a rate hike could be appropriate in January.

After a discussion, they said tighter financial conditions could be the equivalent of further increases.

About Bahiyah Shabazz 1003 Articles
Bahiyah Shabazz is one of the nation’s leading financial experts on the art of maximizing your growth. She's a wealth building expert, author, speaker, financial advocate, magazine and online columnist.

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