U.S. stocks are pointing to a higher open on Thursday as global stocks recovered helped by better-than-expected Chinese export data and a steadying of the Chinese currency.
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Dow Jones futures are higher by 0.2 percent, S&P 500 futures are gaining 0.2 percent and Nasdaq futures are up by 0.4 percent.
Chinese exports rose 3.3 percent in July from a year earlier, beating an expected decline of 2 percent. Chinese imports fell by less than forecast, despite the U.S.-China trade war.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26007.07 | -22.45 | -0.09% |
| SP500 | S&P 500 | 2883.98 | +2.21 | +0.08% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7862.825793 | +29.56 | +0.38% |
U.S. stocks clawed their way back from steep losses on Wednesday to close the session little changed in what was a wild day for equity investors.
The Dow Jones Industrial Average plunged around 500 points at one point as worries about a global recession picked up steam following several global central banks that cut interest rates.
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Add to that list, the Philippine central bank also cut interest rates.
Yields on U.S. 30-year bonds fell as low as 2.123 percent overnight, not far from a record low of 2.089 percent set in 2016.
Ten-year yields dropped further below three-month rates, a yield curve inversion that has often predicted a coming recession.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| LYFT | LYFT INC. | 60.29 | +1.59 | +2.71% |
Shares of the ride-hailing company Lyft rose after beating estimates for second-quarter revenue and said the loss for 2019 would be less than its prior forecast.
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A handful of closely-watched names will report earnings ahead of Thursday’s opening bell. They include a slew of media companies including cable TV and movie giant Viacom, movie theater chain AMC Entertainment.
After the closing bell we’ll hear from Wall Street Journal parent News Corporation, ride-sharing firm Uber Technologies and broadcaster CBS.
