US Weekly Jobless Claims Likely To Increase To This Level, Here Are The Major Macro Issues For Thursday

U.S. stocks closed lower on Wednesday with the Nasdaq Composite dropping around 90 points amid a decline in Amazon.com, Inc. AMZN shares.

Let’s have a look at the major economic events scheduled for today.

• Data on initial jobless claims for the latest week will be released at 7:00 a.m. ET. Jobless claims are projected to come in at 235,000 for the October 15 week compared to 228,000 in the previous week.
• The Philadelphia Fed manufacturing index for October is scheduled for release at 8:30 a.m. ET. The Philadelphia Fed manufacturing index is expected to improve slightly to minus 5.0 in October from prior reading of minus 9.9.
• Data on existing home sales for September will be released at 10:00 a.m. ET. Analysts expect existing home sales contracting to a 4.695 million annualized rate in September from 4.800 million in the previous month.
• The index of leading economic indicators for September is scheduled for release at 10:00 a.m. ET. Analysts expect the index declining 0.3% month-over-month in September.
• 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.
• Philadelphia Fed President Patrick Harker is set to speak at 12:00 p.m. ET.
• Federal Reserve Governor Philip Jefferson will speak at 1:30 p.m. ET.
• Federal Reserve Governor Lisa Cook is set to speak at 1:45 p.m. ET.
• Federal Reserve Governor Michelle Bowman will speak at 2:05 p.m. ET.

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