U.S. stocks looked set for a steady start Thursday following a two-day rally inspired by a number of strong economic reports and corporate news.
However, the continuing threat of a U.S.-led military strike against Syria has kept stocks from going too far too fast.
U.S. stock futures were flat Thursday, with only the Nasdaq edging slightly higher.
Syria is sure to dominate discussions at the G-20 conference in Russia, which kicks off Thursday. Investors will be listening closely to assess if and when a military strike may occur. The G-20 summit was meant to focus on the global economy, but the debate over Syria is expected to overshadow the event.
Interest rate decisions are due Thursday from the European Central Bank and the Bank of England. Neither is expected to change policy but the ECB may upgrade its forecasts for growth in the eurozone after a batch of positive indicators.
Earlier in the day, the Bank of Japan struck a more upbeat note on prospects for the world’s third-largest economy, saying that the country is on track to beat deflation.
Back in the U.S., payroll processor ADP will release its monthly report on private-sector jobs at 8:15 a.m. ET, and the Labor Department will release its weekly data on initial jobless claims at 8:30.
Also at 8:30, the Labor Department will release its revised estimate of second-quarter productivity. At 10 a.m., the Census Bureau will release its monthly report on factory orders.
Shares in LinkedIn continued their slide in after-hours trading Wednesday. Shares fell more than 2% during the trading day after the professional networking website announced plans to sell $1 billion worth of stock in a secondary offering.
LinkedIn shares are still up more than 100% this year.
European markets were all moving higher in morning trading, with London’s FTSE 100 index leading the way with a 0.8% gain.
In Asia, the Mumbai Sensex rallied by roughly 2% near the end of the trading day as investors welcomed early policy moves from Rahguram Rajan, the new head of India’s central bank.
Hong Kong’s Hang Seng index also notched a 1.2% gain, though Japan’s Nikkei and the Shanghai Composite index were relatively unchanged at the close.
