US pre-open: Markets take cue from Asia falls
Updated : 12:52
US markets looked set to fall again on Thursday, taking their cue from sharp losses in Asia and further drops in oil prices.
The Dow Jones Industrial Average was expected to open down around 100 points, while the S&P 500 and the Nasdaq were set to begin the session 10 and 22 points lower respectively.
Key data out on Thursday includes the Philly Fed survey at 1330 GMT as well as jobless claims for the beginning of January.
Oil and gas inventories data is due at 1600 GMT
Asia still under pressure
Elsewhere, the slide in Asian markets showed no signs of letting up after Bank of Japan Governor Haruhiko Kuroda said on Thursday he wasn’t considering adopting a negative interest rate policy.
Instead, he signalled that any further stimulus would likely be an expansion of the asset purchase programme.
"There are pros and cons of adopting negative interest rates ... The Federal Reserve didn't adopt negative interest rates and yet, its policy succeeded in stimulating the US economy," he said.
Concerns over China’s slowing economy also carried on even after the central bank made an aggressive cash injection into the country’s financial system.
The People’s Bank of China offered 400bn yuan worth of short-term loans to commercial lenders on Thursday through its open-market operations.
European markets were in the black as investors looked ahead to comments from European Central Bank chief Mario Draghi.
Oil prices continued to fall, with Brent down 0.61% to $27.71 a barrel while West Texas Intermediate dropped 1.02% to $28.06.
The dollar was up against the pound by 0.54%, however it had dropped 0.05% against the euro and 0.07% against the yen. Spot gold was down 0.07% to $1,100.10.
In company news, shares in Travelers were up 0.72% as it announced fourth-quarter earnings fell to $866m, but operating earnings were at $2.90, above analysts’ expectations.
Verizon shares were also up by0.41% after it revealed revenue came in marginally above analysts expectations at $34.25bn.