Stock futures are trading as lawmakers hope lawmakers agree on a new economic stimulus package ahead of the presidential election.
The main futures indices suggest a decline of 0.9% at the start of the Wall Street session.
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On Wednesday, Treasury Secretary Steven Mnuchin said he and congressional leaders were “very distant” on new aid to the struggling US economy. Consumer spending, the main economic engine in the United States, weakened after supplementary unemployment benefits expired.
Record daily infection figures in Germany, the Czech Republic and Italy added to fears on Thursday that Europe has no shortage of chances to control its latest coronavirus outbreak. France has set a 9 p.m. curfew for many of its largest cities as governments on the continent take increasingly severe measures.
Some UK cities, including London, are expected to face tighter restrictions.
In the United States, investors will receive the latest readings on the labor market with the weekly Unemployment Claims Report. The Labor Department is expected to say the number of unemployment benefit claims fell to 825,000 last week, down 15,000 from the previous week’s total of 840,000.
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There will be two reports on manufacturing with the Philly Fed’s October Manufacturing Activity Index for eastern Pennsylvania, southern Jersey and Delaware. The report reading is expected to come in at 14, down one point from the previous month.
The New York Fed will release its Empire State manufacturing survey for October. Watch for a 2 point drop to a reading of 15 from 17 the month before. A reading above zero means more manufacturers are saying business conditions are improving rather than deteriorating.
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On the results schedule, results are expected from Morgan Stanley, Charles Schwab and pharmaceutical wholesaler and retailer Walgreens Boots Alliance.
In Asia, Tokyo’s Nikkei 225 index fell 0.5%, Hong Kong’s Hang Seng fell 2%, and China’s Shanghai Composite index fell 0.3%.
In Europe, London’s FTSE is down 2.4%, Germany’s DAX is down 3.1%, and France’s CAC is down 2.5%.
In Wednesday’s session on Wall Street, the S&P 500 fell 0.7% to 3,488.67. The Dow Jones Industrial Average lost 0.6% to 28,514. The Nasdaq composite slipped 0.8% to 11,768.73.
|I: DJI||MEDIUM DOW JONES||28514||-165,81||-0,58%|
|I: COMP||INDEX COMPOSITE NASDAQ||11768.728778||-95,17||-0,80%|
Major US companies start publishing quarterly results this week.
Bank of America fell 5.3% after its revenue fell below analysts’ expectations. Wells Fargo fell 6% after earnings fell below Wall Street expectations.
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In energy markets, benchmark US crude fell 59 cents to $ 40.45 a barrel on electronic trading on the New York Mercantile Exchange. Brent, used for the price of international oils, fell 56 cents to $ 42.76 a barrel in London.
The Associated Press contributed to this article.