Stocks- Wall Street Set for Positive Opening

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Stocks- Wall Street Set for Positive Opening
Credit: © Reuters. – U.S. futures were gaining traction on Thursday as the chances of a Federal Reserve rate hike look more likely.

The S&P 500 futures was steady at 0.01% as of 6:27 AM ET (11:27 GMT) while Dow futures were up almost 20 points or 0.09%. Tech heavy Nasdaq 100 futures increased nearly four points or 0.06%.

In pre-market trading, International Speedway Corporation (NASDAQ: ISCA ) was the biggest gainer, up 9.28% as it is expected to report revenue of $128.82 million before markets open.

Biopharmaceutical company ACADIA Pharmaceuticals Inc (NASDAQ: ACAD ) jumped 7.23% after the FDA gave its dementia-related psychosis treatment a special designation as the drug awaits approval. Insurance holding company HRG Group Inc (NYSE: HRG ) increased 5.03%.

Among the biggest losers before the opening bell was Rigel Pharmaceuticals Inc (NASDAQ: RIGL ), which fell 4.69% after the company announced a share offering as it hopes to raise up to $40 million in a public offering. Titanium company Tronox Limited (NYSE: TROX ) decreased 3.158% after it also announced a share offering of $2.925 million.

In earnings, PepsiCo (NYSE: PEP ) is releasing its results today, while Bassett Furniture Industries (NASDAQ: BSET ), Constellation Brands B (NYSE: STZb ), Globus Maritime Ltd (NASDAQ: GLBS ), and Park Electrochemical Corporation (NYSE: PKE ) will release their earnings ahead of the bell.

In economic news, investors will be looking at the initial jobless claims data ahead of Friday’s jobs report. The initial jobless claims report comes out at 8:30AM ET (14:30 GMT). U.S. factory orders for August come out at 10:00 AM ET (16:00 GMT) and are expected to increase 1.0%.

Three voting members of the Federal Reserve will also speak on Thursday. Investors will be looking for any indication of the next Fed chair, as well as any indication of a rate hike in December.

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