U.S. indices closed higher on Wednesday lifted by shares in the Automobiles & Components (+2.03%), Consumer Durables & Apparel (+1.42%) and Energy (+1.4%) sectors. U.S. crude inventories plummeted by 10 million barrels last week which sent oil stocks higher. Key stocks to watch on Thursday include Dollar General (DG), Dollar Tree (DLTR) and Best Buy (BBY) as they are anticipated to release earnings pre-market. The S&P 500 (2,887.94) stays below its 20d moving average (2,887.94 – negative slope) and its 50d moving average (2,945.64 – flat slope).
European markets are expected to start on a flat note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was bullish against all of its major pairs on Wednesday. On the economic data front, MBA mortgage applications fell 6.2% last week after falling 0.9% in the prior week. Thursday will be a busy day for economic data as traders anticipate initial jobless claims to be at 216K for the week ending Aug 16 from a revised 221K in the prior reading. We can also expect GDP data and wholesale inventories at 8:30 am EST.
The Euro was bullish against all its major pairs except for the CHF. In Europe, the euro zone M3 money supply growth was 5.2% in July YoY (4.7% expected) vs 4.5% in June. The Germany GfK consumer confidence index was flat at 9.7 for September vs 9.6 anticipated.
The Australian dollar was mixed against all of its major pairs.<\/p>\n\n\n\n