Thursday’s U.S. data calendar is light, with some focus on the release of the S&P Global flash August snapshot of business activity – the Purchasing Managers Index (PMI).
July U.S. existing home sales numbers are also due out.
U.S. stock futures were just a touch firmer, suggesting the positive momentum on Wall Street could continue.
Oil prices are also in many people’s sights after falling for a fifth straight day on concern about weakening demand in the global economy.
U.S. West Texas Intermediate crude <CLc1>, trading around $71.64 in early London trade, is hovering near its lowest levels since February.
Elsewhere, eyes are on plans for an unprecedented rail stoppage in Canada that could badly damage its economy and have a significant impact on cross-border trade with the United States.
Canadian National Railway and Canadian Pacific Kansas City have shut down their rail networks in the country on Thursday and locked out nearly 10,000 workers after unsuccessful negotiations with a major labor union.
The Canadian and U.S. economies are highly integrated, with rail transport accounting for 14% of total bilateral trade of roughly $382 billion between the countries for the first half of 2024, according to the U.S. Department of Transportation.
Vice President Kamala Harris, the Democrat candidate for the Nov. 5 U.S. presidential election, will address the Democratic National Convention in Chicago on its final night.
