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Both jobless claims and producer prices data at 08:30 a.m. ET
come after Wall Street eked out slim gains on Wednesday when
consumer prices largely met market expectations despite hitting
a 40-year high.
The producer price index (PPI) for final demand is expected to
rise 0.4% in December, compared with a 0.8% increase in
November. In the 12 months through December, the PPI likely
accelerated 9.8% after shooting up 9.6% in November.
Delta Air Lines gained 2.2% in premarket trading after beating
estimates for fourth-quarter earnings and said it has recovered
nearly 80% of its 2019 pre-pandemic level revenue.
Shares of peers American Airlines and United Airlines advanced
1.6% each.
More U.S. companies will report results on the final quarter of
2021 in the coming weeks, with year-over-year earnings growth
from S&P 500 companies expected to be at 22.4%, according to
IBES data from Refinitiv.
JPMorgan Chase is due to report on Friday along with Citigroup
and Wells Fargo. Results from big technology and other mega-cap
companies start next week, with Netflix due to report on Jan.
20.
Banks have been among the best performers since the start of the
new year, with retail investors also raising their exposure to
bank stocks ahead of the earnings announcements, according to
Vanda Research's weekly report on retail flows.
Major U.S. tech firms edged lower ahead of a White House meeting
with their top executives, including representatives from
Alphabet-owned Google, Apple Inc and Amazon.com Inc, to discuss
software security.
Also on the radar, Fed Governor Lael Brainard will appear at a
Congressional hearing later in the day for her nomination as
deputy chair.
Wells Fargo joined Goldman Sachs, JPMorgan and Deutsche Bank in
forecasting an aggressive tightening of U.S. monetary policy in
the coming months and estimating the Fed to raise interest rates
four times this year.
At 7:03 a.m. ET, Dow e-minis were up 38 points, or 0.11%, S&P
500 e-minis were up 0.75 points, or 0.02%, and Nasdaq 100
e-minis were down 3.5 points, or 0.02%.
Recently listed satellite launch service provider Virgin Orbit
gained 2.1% after tweeting that it is on track for its first
commercial satellite launch on Thursday between 1300 and 1530
Pacific Time.
(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Maju
Samuel)
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