US Markets

US futures mostly flat after stocks hit record highs; data eyed

Traders on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters

U.S. stock index futures pointed to a flat open on Wednesday ahead of a Thanksgiving holiday as Wall Street hit record highs yet again in the previous session as investors awaited data and kept an eye on a possible OPEC deal.

On the data front, jobless claims came in at 251,000, slightly above expectations, while durable goods orders for October surged. A little later in the morning at 9:45 a.m. ET, flash Markit PMI is set to be released and new home sales and consumer sentiment for October and November respectively will be released at 10 a.m. ET.

On the earnings front, Deere reported strong quarterly results, easily beating estimates on the bottom line and topping sales consensus. Intl is due to report after the market close.

In Europe, the pan-European Stoxx-600 index was around 0.44 percent lower on Wednesday. In Asia,the Shanghai Composite in China closed 0.21 percent lower, while the Nikkei in Japan closed 0.31 percent higher.

In oil markets, Brent crude traded at around $48.75 a barrel on Wednesday, down 0.77 percent, while U.S. crude was around $47.56 a barrel, down 0.92 percent.

According to Reuters, OPEC could cut oil production by more than 1 million barrels a day, if oil ministers agree to a proposal from the oil cartel at a meeting next week.