US indices closed in the green on Wednesday for the first time this week lifted by shares in the Semiconductors & Semiconductor Equipment (+1.7%), Software & Services (+1.51%) and Diversified Financials (+1.31%) sectors. On the economic data front, US Wholesale Inventories decreased 0.2% missing the 0.4% estimate for the August Final reading, down from 0.4% in the August preliminary reading. US MBA Mortgage Applications rose 5.2% last week compared to a gain of 8.1% in the prior week. The S&P 500 (2,919.4) trades below its 20d moving average (2,966.37 – negative slope) and 50d moving average (2,936.19 – negative slope).
On Thursday, economists expect Initial Jobless Claims to increase to 220K for the week ended October 5th from 219K the week before. Continuing Claims for the week ended September 28th is expected to be in line with the prior week at 1651K. Finally, US CPI MoM change for September is expected to be in line with the prior month at 0.1%.
Crude inventories grew more than expected last week, rising by 2.9 million barrels, compared with analysts\u2019 expectations for an increase of 1.4 million barrels, the Energy Information Administration said.
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 most of its major pairs on Wednesday with the exception of the EUR. On the economic data front, US Wholesale Inventories decreased 0.2% missing the 0.4% estimate for the August Final reading, down from 0.4% in the August preliminary reading. US MBA Mortgage Applications rose 5.2% last week compared to a gain of 8.1% in the prior week. On Thursday, economists expect Initial Jobless Claims to increase to 220K for the week ended October 5th from 219K the week before. Continuing Claims for the week ended September 28th is expected to be in line with the prior week at 1651K. Finally, US CPI MoM change for September is expected to be in line with the prior month at 0.1%.
The Euro was bullish against all of its major pairs. In Europe, the Bank of France confirmed expecting a 0.3% GDP growth for France in 3Q.
The Australian dollar was bullish against most of its major pairs with the exception of the EUR.<\/p>\n\n\n\n