Prior to the opening bell on Thursday, the primary U.S. stock indices indicated a positive trajectory, following investors' analysis of Meta Platforms' latest financial performance and the anticipation of forthcoming earnings releases from major technology corporations later in the day. The Standard & Poor's 500 index and the Nasdaq both climbed by 0.4% in pre-market trading, while the Dow Jones Industrial Average saw a slight increase of 0.1%.
Asian stock markets displayed a mixed performance, trending mostly lower, whereas European markets were largely in the red. Shares of Meta Platforms surged by 5.7% before the market opened after the flagship owner of Facebook and Instagram released second-quarter results that surpassed expectations.
Meanwhile, technology stalwarts Apple and Amazon.com are poised to unveil their quarterly earnings reports following the conclusion of the trading day. Additionally, several companies are scheduled to announce their earnings early Thursday morning, including ConocoPhillips, Regeneron Pharmaceuticals, Anheuser-Busch InBev, Cigna, Southern Company, Air Products and Chemicals, Moderna, Hershey, Roblox, and Kellanova, among others.
Notably, the semiconductor giant Intel is set to present its results after the market's close. Traders are also digesting comments from Federal Reserve Chair Jerome Powell, who indicated that monetary policy easing "could be on the table" in September. The Federal Open Market Committee of the central bank decided on Wednesday to maintain its benchmark lending rate at 5.25% to 5.50%, acknowledging that inflation remains "somewhat elevated" despite a gradual decline over the preceding year. On the economic agenda for Thursday, the Challenger Job Cut Report for July will be released at 7:30 AM ET, followed by the weekly jobless claims data and the preliminary second-quarter productivity and costs report at 8:30 AM.
The July purchasing managers' index for manufacturing from S&P Global is scheduled for release at 9:45 AM, and the Institute for Supply Management's manufacturing index for the same month will be available at 10 AM. The construction spending report for June is also anticipated for a 10 AM release, along with the weekly EIA domestic natural gas supplies report at 10:30 AM. Before the market opens, Bitcoin has experienced a decline of 1.7%, currently priced at $64,492.
In commodities, West Texas Intermediate crude oil has risen by 0.7% to $78.44 per barrel. Additionally, yields on 10-year Treasuries are down by 5.5 basis points, now at 4.05%, while gold has seen a slight uptick of 0.3%, trading at $2,479 per ounce..