Market Insider

Market fear factors could linger Thursday

Investors look for market catalyst: Trader

After Wednesday's market turbulence, traders will be watching Thursday's economic reports for any further indications the U.S. economy is running into headwinds.

Stocks sold off sharply but erased much of their losses Wednesday, with the S&P 500 closing 0.8 percent lower at 1862. Stock futures were lower late Wednesday. Netflix, a popular momentum name, dipped 25 percent in afterhours trading after reporting disappointing subscriber growth.

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Disappointing economic reports – weaker retail sales, a decline in producer prices and a surprising drop in the Empire State index – were one catalyst for Wednesday's selloff. Thursday's data includes weekly jobless claims at 8:30 a.m. ET, industrial production at 9:15 a.m. and the Philadelphia Federal Reserve survey and National Association of Home Builders sentiment survey, at 10 a.m. Treasury capital flow data is due at 9 a.m.

Stock traders will also turn their focus to earnings Thursday morning, particularly Goldman Sachs ahead of the opening bell and Google, after the market close. Earnings are also expected from Blackstone, Delta Airlines, UnitedHealth, Baker Hughes, Snap-on, Mattel, Winnebago, Cypress Semiconductor, Fifth Third, First Republic Bank and PPG ahead of the open. Capital One, SanDisk, Stryker, Advanced Micro and Schlumberger report after the closing bell. An Apple product announcement at 1 p.m. should also catch the market's attention.