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The
Fed has said it will raise rates when it sees sustained economic
recovery. But while the labor market has strengthened, inflation
remains below the Fed's 2 percent target.
Weekly jobs data, scheduled to be released at 8:30 a.m. ET on
Thursday, is expected to show that jobless claims increased by
4,000 to 275,000 last week.
Near-zero rates allowed the stock market stage a spectacular
bull-run since the financial crisis.
Some investors believe that the bout of recent market volatility
caused by concerns about China's slowing economy might force the
Fed to hold back on a rate hike until the end of the year. The
Fed next meets on Sept. 16-17.
U.S. investors have endured over two weeks of unusually volatile
trade that left the S&P 500 with its biggest monthly drop in
three years in August.
In other data to be released on Thursday, trade deficit is
expected to have narrowed in July to $42.4 billion from $43.8
billion in June.
Global markets got some respite from the recent turbulence as
Chinese markets remain shut on Thursday and Friday due to public
holidays.
Joy Global <JOY.N> shares were down 4.3 percent at $21.17 in
premarket trading after the mining equipment maker reported a
fall in quarterly profit and cut its full-year forecast.
Tesla <TSLA.O> was up 2.7 percent at $254.53 after the company
said it would begin delivering its first luxury electric
crossovers, the Model X Signature series, on Sept. 29.
(Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty)
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