Wall Street Set To Bounce Back

(RTTNews) - Brent crude futures for August delivery were down 0.8 percent at $92.32 a barrel, reversing gains from earlier in the session after the U.S. military said that it had 'completed' its latest round of airstrikes targeting Iran. WTI crude futures fell half a percent to $89.54.

Initial cues from the U.S. Futures Index suggest that Wall Street might open higher on Thursday.

The Middle East conflict continue to be boiling as Iran had said it would launch counterattack on U.S. military targets.

In the Asian trading session, the dollar held steady near a two-month high. Gold jumped 0.8 percent to $4,104 an ounce.

Brent crude futures fell below $93 a barrel.

As of 7.55 am ET, the Dow futures were gaining 390.00 points, the S&P 500 futures were adding 52.00 points and the Nasdaq 100 futures were progressing 339.75 points.

The U.S. major averages ended Wednesday lower. The Dow tumbled 953.33 points or 1.9 percent to 49,918.78, the Nasdaq plunged 509.32 points or 2 percent to 25,169.50 and the S&P 500 slumped 119.66 points or 1.6 percent to 7,266.99.

On the economic front, the Jobless Claims for the week will be released at 8.30 am ET. The consensus is 215K, while it was up 225K in the prior week.

The PPI-Final Demand for May will be published at 8.30 am ET. The consensus is 0.7 percent, while it was up 1.4 percent in the prior month.

The Energy Information Administration or EIA's Natural Gas Report for the week will be revealed at 10.30 am ET. In the prior week, the gas stock was 95 bcf.

The five-year Treasury Inflation-Protected Securities or TIPS will be released at 11.00 am ET.

Twenty-year Treasury announcement will be released at 11.00 am ET.

Fed Balance Sheet for the week will be issued at 4.30 pm ET.

Asian shares ended mixed on Thursday. China's Shanghai Composite index slipped 0.16 percent to 3,987.01. Hong Kong's Hang Seng index fell 0.65 percent to 24,249.29.

Japanese markets fluctuated. The Nikkei average finished marginally higher at 64,217.27, the broader Topix index settled 0.45 percent lower at 3,830.35.

Australian markets ended slightly lower. The benchmark S&P/ASX 200 dropped 0.23 percent to 8,633.20 while the broader All Ordinaries index slid 0.23 percent to close at 8,836.70.