Thursday April 13th

13-04-2017

Futures point to lower open on Wall Street on Trump's dollar comments

U.S. stock index futures pointed to a lower open on Thursday after President Donald Trump said the dollar was getting "too strong," while earnings season kicked off. Trump's comments sent the dollar reeling, with the greenback hitting its lowest level of the month against a basket of currencies. The remarks also added jitters to an already nervous market, as investors continue to weigh where the administration's priorities are. On the earnings front, Citigroup and Wells Fargo are among companies set to report on Thursday. JPMorgan Chase posted first-quarter results that easily beat expectations. On the data front, Thursday will see jobless claims and PPI released at 8:30 a.m. ET, with consumer sentiment set to come out at 10:00 a.m. ET. In Europe, the pan-European Stoxx 600 Index was around 0.47 percent lower on Thursday. The Shanghai Composite in China closed little changed, up 0.07 percent, and the Nikkei 225 in Japan closed 0.68 percent lower. In oil markets, Brent crude traded at around $55.94 a barrel on Thursday, up 0.14 percent, while U.S. crude was around $53.16 a barrel, up 0.1 percent. Gold rallied to a five-month high on Thursday, on track for its best week since June, after the previous day's comments by U.S. President Donald Trump on the the strength of the dollar knocked the currency half a percent lower. Spot gold showed a 0.07 percent gain at $1,287.03 an ounce, while U.S. gold futures for June delivery were up 0.85 percent at $1,289.