The Labor Department's Consumer Price Index for April and Jobless Claims for the week are the major highlight on Thursday.

The geopolitical developments development, especially the release of three U.S. citizens by North Korea and U.S. Secretary of State Mike Pompeo's discussions prior to a probable Trump-Kim summit are adding positive vibes to market sentiments.

The Investors are keenly watching the rallying energy prices also.

Asian shares finished broadly higher, while European shares are trading positive.

Initial trading on U.S. Futures Index suggest that Wall Street might open slightly up.

As of 7.15 am ET, the Dow futures were adding 1.00 points, the S&P 500 futures were climbing 2.00 points and the Nasdaq 100 futures were improving 9.00 points.

U.S. stocks closed higher on Wednesday. The Dow advanced 182.19 points or 0.8 percent to 24,542.40, the Nasdaq jumped 73.00 points or 1 percent to 7,339.90 and the S&P 500 surged up 25.87 points or 1 percent to 2,697.79.

On the economic front, the Labor Department's Consumer Price Index for April will be issued at 8.30 am ET. The consensus is for increase of 0.3 percent, while it declined 0.1 percent in the prior month.

The new unemployment claims compiled by the Labor Department for the week will be published at 8.30 am ET. The consensus is for 220K, up from 211K in the prior week.

The Energy Information Administration or EIA's Natural Gas Report for the week will be released at 10.30 am ET. In the prior week, the change was 62 bcf.

The 10-year Treasury Inflation Indexed Securities or TIPS auction will be held at 11.00 am ET. The 30-year Bond Auction will be at 1.00 pm ET.

The Treasury Budget for April will be published at 2.00 pm ET. The market consensus is for $88.0 billion, while it recorded a deficit of $208.7 billion a month ago.

The Federal Balance Sheet for the week will be revealed at 4.30 pm ET. In the prior week, the balance sheet was at $4.356 trillion.

The Fed Money Supply for the week will be released at 4.30 pm ET. The M2 weekly change was $16.1 billion.

In the corporate sector, the Buckle Inc. reported 3.4 percent decline in comparable store sales for the four week period ended May 6. Net sales for the period decreased 6.5 percent to $58.6 million, from $62.6 million a year ago. L Brands reported a flat comparable store sales for the four weeks ended May 5. Net sales climbed 4 percent to $751.6 million from $719.6 million last year.

Asian stocks ended broadly higher on Thursday. China's Shanghai Composite index rose 15.26 points or 0.48 percent to 3,174.41. Hong Kong's Hang Seng index climbed 273.08 points or 0.89 percent to close at 30,809.22.

Japanese shares rose on improved risk appetite. The Nikkei average rose 88.30 points or 0.39 percent to 22,497.18, led by energy stocks and automakers. The broader Topix index closed 0.27 percent higher at 1,777.62.

Australian shares closed higher. The benchmark S&P/ASX 200 index rose 10.70 points or 0.18 percent to 6,118.70 while the broader All Ordinaries index ended up 11.50 points or 0.19 percent at 6,215.90.

European shares are mostly down. France's CAC 40 is declining 7.32 points or 0.13 percent. Germany's DAX is up 36.82 points or 0.28 percent. FTSE 100 of U.K. is losing 15.18 points or 0.20 percent. Swiss Market Index is adding 39.20 points or 0.44 percent.

Eurozone's leading Blue Chip index,Euro Stoxx 50, is edging down 0.35 percent.

by P2PNews Staff Writer

editorial@p2pnews.com

Market AnalysisBB

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