The U.S. stock market futures indicate a positive opening on Thursday, suggesting investors are optimistic about the day ahead. The Dow, S&P 500, and Nasdaq 100 futures all traded higher at the start of the day.
Wednesday was a down day for the U.S. stock market, as all three major indexes closed in the negative territory. The minutes from the Fed’s March meeting indicated policymakers’ concerns over a recession later this year, which influenced the markets’ performance.
However, investors are now focusing on other data expected to be released today. The data on producer price inflation is set to be released, and it is predicted to show price pressures moderating. Additionally, economists expect a slight increase from the previous week’s report on initial jobless claims.
Another factor contributing to today’s positive outlook is the upcoming first-quarter earnings season, which starts on Friday. Major banks such as JPMorgan, Citigroup, and investment manager BlackRock are set to report, providing insight into the industry’s performance.
Moreover, the oil markets are also under close scrutiny, as the Energy Information Administration’s weekly report on crude oil inventories is due to be released later today. The report is expected to provide more information on crude demand and supply after OPEC unexpectedly cut production earlier this month.