S&P 500 futures trading higher on Thursday after heavy losses in yesterday’s session. Investors sentiment improves after signs that Russia and Saudi Arabia are ready to start discussions on oil production. Traders await the initial jobless claims later today as the figures soared to 3.28 million in the week ending March 21, analysts expect even a higher figure today.
Yesterday the ADP of private-sector employment fell by a 27,000, and the manufacturing ISM slipped to 49.2 from 50.1. The New orders, fell to 42.2 from 49.8, while the employment slumped to 43.8 from 46.9. Car industry reported that US auto sales fell to 11.37 million from 16.8 million in February.
Nasdaq 100 futures are 1.15% higher at 7524, the Dow Jones futures are 1.79% higher at 21011, while the S&P 500 futures are 1.64% higher at 2488.
European Stocks Slide on Weak Manufacturing PMI’s
European indices are trading slightly higher by midday. The DAX Index is 0.39% higher at 9,582. The CAC 40 is 0.90% higher at 4,245. FTSE 100 is 0.75% higher at 5,495, while the FTSE Mib index is 1.11% higher at 16,728. Coronavirus confirmed cases in Italy had topped 110,550 while there are 13,150 deaths
Cryptocurrencies consolidate after yesterday’s gains, Bitcoin price builds on positive momentum, targets $7,000. Ripple price is 0.77% higher at 0.1770. Ethereum is 1.04% higher at 137.39, while Litecoin is 1.22% higher at 39.81.
Crude Oil Price Continues Higher
WTI crude oil price is 9.39% higher at $22.21 as there are some rumours that Russia and the United States might start negotiations to stabilize oil prices. Brent crude oil is 5.85% higher at $27.12. Gold Price trades slightly higher, adding 0.35% at 1593. Silver price is 1.41% higher at $14.11.