From the Wall Street Journal’s "Stock Futures Edge Lower Ahead of Jobs Data" posted early Thursday:
U.S. stock futures weakened after Federal Reserve minutes out Wednesday showed officials agreed they need to keep raising interest rates to cool inflation, but indicated the pace of hikes could slow.
Investors awaited data on the labor and housing markets, out Thursday.
At mid-morning in London:
- Futures tied to the S&P 500 were down 0.3%, putting the index on course for a second day of losses. Dow Jones Industrial Average futures edged down 0.2%, while futures linked to the tech-heavy Nasdaq-100declined 0.4%.
- The yield on the benchmark 10-Year U.S. Treasury note was little changed, after rising Wednesday following the release of the Fed’s meeting minutes.
- Oil prices edged up 0.5% to $94.12 a barrel, taking decline for the month to slightly less than 10%, as the prospect of weakening demand and additional supplies have dragged on prices.
- Later Thursday, data on initial jobless claims, a proxy for layoffs, are expected to show a continuing slow trend upward.
- Existing home sales data are expected to show a further cooling of the housing market as mortgage rates weigh on sales.
Charts: Yahoo!Finance sees a bullish triple-moving-average-crossover pattern. Max pain moves up $5 to $165 with a call mountain at $177.50 and a put peak at $145.