A better than expected report on Chinese manufacturing activity may help the markets to extend the rally that was seen on Wednesday.
The preliminary results of a manufacturing survey by Markit and
The headline manufacturing purchasing managers' index rose 1.6 points to 49.7 in May, reaching a five-month. Economists had expected a smaller improvement to 48.3.
Nonetheless, early buying interest may be subdued following the release of a report from the
The report said jobless claims jumped to 326,000, an increase of 28,000 from the previous week's revised level of 298,000. Economists had been expecting jobless claims to climb to 310,000.
While the number for the previous week was upwardly revised from 297,000, it still represents the lowest number of claims in seven years.
"It's not just
Not long after the open, trading could be impacted by the release of a separate report from the
Economists expect existing home sales to climb to an annual rate of 4.69 million in April after edging down 0.2% to a rate of 4.59 million in March.
In corporate news, shares of
Department store operator
On the other hand, shares of
After moving sharply lower over the course of the trading day on Tuesday, stocks showed a significant rebound during trading on Wednesday. The markets continued to perform well following the release of the minutes of the latest Federal Reserve meeting.
The major averages closed firmly in positive territory, near their best levels of the day. The Dow jumped 158.75 points or 1% to 16,533.06, the Nasdaq advanced 34.65 points or 0.9% to 4,131.54 and the S&P 500 climbed 15.20 points or 0.8% at 1,888.03.
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