Investors hoping for a bounce on Thursday after two days of losses may be disappointed.
Here are the five things you need to know before the opening bell rings in New York:
1. Stock market overview: U.S. stock futures are flat. Most European markets are dipping into the red, shrugging off a report out of Germany that suggests businesses have been holding up well in September. The Ifo Business Climate report was better than August and beat economists expectations.
In Asia, the Japanese Nikkei index took a 2.8% dive following the release of sluggish manufacturing data for September. The numbers from Markit show a sharp reduction in international demand, particularly from China.
Across the rest of Asia, trading was mixed.
2. Stock market movers — VW, Consol Energy: Shares in Volkswagen continue to recover in Europe after being slammed into reverse earlier this week.
The automaker’s CEO resigned Wednesday over a growing scandal about false emissions tests. The company now faces well over 30 lawsuits in the U.S. related to the scandal, and German state prosecutors are considering legal action.
Coal and natural gas producer Consol Energy is seeing wild swings in its shares in premarket trading. The stock dropped by 8.6% on Wednesday as coal futures prices fell, but now it’s set for a sharp recovery at the open.
3. Earnings: Book publisher Scholastic and consulting firm Accenture will report ahead of the open.
Retailers including Nike, Pier 1 and Bed Bath & Beyond are reporting results after the close.
4. Economics: The Department of Labor is releasing weekly jobless claims data at 8:30 a.m. ET. Federal unemployment statistics have shown for months that the labor market is in good shape.
At 10 a.m., the Census Bureau will release new home sales data for August.
5. Wednesday market recap: Markets stayed in the red Wednesday after a sharp Tuesday drop, but the losses were smaller. The Dow Jones industrial average dipped by 0.3%. The S&P 500 shed 0.2% and the Nasdaq lost 0.1%.
