U.S. Weekly Jobless Claims Might Decline Slightly To This Level, Here Are The Major Macro Issues For Thursday

The Nasdaq index closed sharply higher on Wednesday, with Tesla, Inc. TSLA reporting better-than-expected earnings for its second quarter after the closing bell.

Below is a look at the major economic reports scheduled for release today.

• Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Jobless claims have been moving higher in the recent weeks, with claims projected to come in at 240,000 in the July 16 week, down from 244,000 in the previous week.
• The Philadelphia Fed manufacturing index for July is scheduled for release at 8:30 a.m. ET. After June's reading of minus 3.3, the Philadelphia index is likely to move back over zero to 0.4 in July.
• The index of leading economic indicators for June will be released at 10:00 a.m. ET. After dropping a sizable 0.4% in both April and May, analysts expect the index declining a further 0.5% in June.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
• The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.

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