Equity futures pointed to a lower open on disappointing durable goods and manufacturing figures.
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Investors were also keeping an eye on possible advances in U.S.-China trade talks.
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Dow Jones futures were lower by 0.1 percent. The S&P 500 slipped 0.2 percent and the Nasdaq Composite was off 0.1 percent
The Philadelphia Federal Reserve said its gauge on business activity in the Mid-Atlantic region unexpectedly fell to the weakest level since May 2016.
The index dropped to reading of -4.1 from 17.0 in January. areading below zero indicates contraction.
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The Commerce Department reported that overall Durable goods rose in December, however a key component called non-defense capital goods fell 0.7 percent from november, pointing to a further slowdown in business spending.
The Labor department reported Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 216,000 last week.
Negotiators may be close to coming up with a deal that will end the trade sanctions between the U.S. and China. It is considered the most significant progress yet toward ending a seven-month trade war, according to report from Reuters.
In Asian markets on Thursday, China’s Shanghai Composite fell 0.34 percent, Hong Kong’s Hang Seng gained 0.41 percent and Japan’s Nikkei edged up 0.2 percent.
In Europe, London’s FTSE dropped 0.9 percent, Germany’s DAX added 0.2 percent and France’s CAC was little changed.
Shares of Dow component Nike are trading lower after Duke University forward Zion Williamson was injured in a game against North Carolina, when his foot slid on the floor and his Nike-made shoe came apart.
Shares of Domino’s Pizza were down after the firm reported fourth-quarter earnings, revenue and same-store sales that missed expectations.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25954.44 | +63.12 | +0.24% |
| SP500 | S&P 500 | 2784.7 | +4.94 | +0.18% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7489.069 | +2.30 | +0.03% |
Stocks closed slightly higher Wednesday after Federal Reserve officials said they would soon announce a halt in reducing their $4 trillion portfolio of bonds and other assets as the global economy’s outlook becomes more uncertain.
Fed officials also disclosed that members of the bank’s powerful interest rate-setting committee agreed to hold interest rates steady for the same reason.
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Fed officials said in their minutes that they supported a “patient” approach to monetary policy, prompted by concerns about the potential effects of geopolitical turmoil on the global economy, according to their minutes.
