Wall Street braces for higher open as traders eye ECB, US data

U.S. stock index futures indicated a higher open Thursday morning as traders eyed developments in Europe, where the latest monetary policy meeting of the European Central Bank (ECB) will take place.

The ECB is expected to extend its trillion-euro bond-buying programme beyond March 2017 and announce plans to expand the universe of eligible bonds as part of its efforts to kick-start the euro zone’s economy.

The ECB announces its policy decision at 7:45 a.m. ET and President Mario Draghi is due to hold a press conference at 8:30 a.m. ET. The pan-European Stoxx 600 Index was up by around 0.23 percent on Thursday morning at 9:00 a.m. London time.

On the data front in the U.S., initial claims are set to come out at 8:30 a.m. ET., with consumer credit due at 3:00 p.m. ET.

In oil markets, Brent crude traded at around $48.78 a barrel on Thursday morning, up 1.67 percent, while U.S. crude was around $46.41 a barrel, up 2.00 percent.

On the earnings front, Donaldson and Barnes & Noble are set to report before the bell. Duluth and Finisar are set to report after the bell.

In Asia, Japan’s Nikkei closed 0.32 percent lower on Thursday, while in China the Shanghai composite closed 0.15 percent higher.

Source: CNBC