Stock futures are trading down as they hope lawmakers agree on a new package of economic stimulus before the presidential election disappears.
Major futures indexes fall 0.9% when the Wall Street session begins.
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On Wednesday, Treasury Secretary Stephen Mnuchin said he and congressional leaders were “far apart”
Record daily data on the infection in Germany, the Czech Republic and Italy added to fears on Thursday that Europe was running out of chances to control its latest outbreak of coronavirus. France has set an evening time of 9 pm for many of its largest cities as the continent’s governments take more and more action.
Some cities in the UK, including London, are expected to face stricter restrictions.
In the US, investors will receive the latest reading of the labor market with the weekly report on unemployment claims. The Ministry of Labor is expected to announce that the number of claims for unemployment benefits fell to 825,000 last week, down 15,000 from 840,000 the previous week.
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There will be two production reports with the October Philly Fed Production Activity Index for Eastern Pennsylvania, Southern Jersey and Delaware. The reading of the report is expected to appear at 14, which is a point from the previous month.
The New York Fed will present its study on the production of Empire State in October. Watch for a 2-point drop to 15 of 17 in the previous month. Reporting above zero means that more manufacturers say that business conditions are improving, not deteriorating.
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The profit calendar includes results from Morgan Stanley, Charles Schwab and pharmaceutical wholesaler Walgreens Boots Alliance.
In Asia, the Nikkei 225 in Tokyo fell 0.5%, Hang Seng in Hong Kong lost 2% and China’s Shanghai Composite Index fell 0.3%.
In Europe, the London FTSE decreased by 2.4%, the German DAX fell by 3.1% and the French CAC decreased by 2.5%.
In the session on Wall Street on Wednesday, 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||DOW JONES AVERAGE||28514||-165.81||-0.58%|
|I: COMP||NASDAQ COMPOSITE INDEX||11768,728778||-95.17||-0.80%|
Big US companies are starting to report quarterly revenue this week.
The Bank of America sank 5.3 percent after its revenues fell short of analysts’ forecasts. Wells Fargo fell 6% after its profit was lower than expected by Wall Street.
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In energy markets, the US benchmark fell 59 cents to $ 40.45 a barrel in e-commerce on the New York Mercantile Exchange. Crude Brent, used to price international oil, fell 56 cents to $ 42.76 a barrel in London.
The Associated Press contributed to this article.