US equity futures experienced an increase ahead of the market opening on Thursday, with the technology-heavy Nasdaq Composite showing the strongest performance compared to other major indices, following impressive third-quarter results and forecasts from Taiwan Semiconductor Manufacturing. The futures for the Dow Jones Industrial Average saw a gain of 0.2%, while the S&P 500 futures rose by 0.5% and the Nasdaq futures advanced by 0.8%.
Taiwan Semiconductor disclosed its third-quarter earnings early on Thursday, reporting figures that exceeded analysts' predictions, alongside a fourth-quarter revenue guidance that also surpassed market expectations. Meanwhile, oil prices remained relatively stable, with the front-month global benchmark North Sea Brent crude fluctuating around $74.29 per barrel and US West Texas Intermediate crude maintaining levels near $70.46 per barrel.
New unemployment claims, set to be released at 8:30 am ET, are anticipated to decrease to 241,000 for the week ending October 12th, down from 258,000 claims recorded in the previous week. Retail sales estimates suggest a 0.3% increase in September following a modest uptick of 0.1% in August, according to data compiled by Bloomberg.
The industrial production report scheduled for 9:15 am ET is expected to reveal a decline of 0.1% for September, compared to the 0.8% growth noted in August. Business inventories, which will be reported at 10 am ET, are forecasted to show a 0.3% increase in August, following a 0.4% increase in July.
Expectations are also set for an improvement in the US housing market index, projected to rise to 43 in October from 41 in September..