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

U.S. stocks closed mostly higher on Wednesday with the Nasdaq 100 gaining around 100 points amid a rise in Amazon.com, Inc. AMZN and Apple Inc. AAPL 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 8:30 a.m. ET. Jobless claims are projected to come in at 228,000 for the September 10 week compared to 222,000 in the previous week.
• The Philadelphia Fed manufacturing index for September is scheduled for release at 8:30 a.m. ET. The Philadelphia Fed manufacturing index, which rose to 6.2 in August, is expected to decline to 3.1 in September.
• Data on retail sales for August will be released at 8:30 a.m. ET. Total sales came in flat for July, with analysts expecting unchanged reading for August too.
• The Empire State manufacturing index for September is scheduled for release at 8:30 a.m. ET. The Empire State index is likely to recover to a reading of minus 12.8 in September, compared to minus 31.3 in August.
• Data on import and export prices for August will be released at 8:30 a.m. ET. Import prices are expected to decline 1.3% on a monthly basis in August, while export prices might drop 1.2% in August.
• Data on industrial production for August will be released at 9:15 a.m. ET. Industrial production, which increased a strong 0.6% in July, is expected to rise by 0.2% in August.
• Data on business inventories for July will be released at 10:00 a.m. ET. Analysts expect business inventories increasing 0.6% in July following a 1.4% growth 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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