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Wall Street set to open higher as bond market worries ease


By Sruthi Shankar

(Reuters) - was set for a positive session on Thursday, as speculation over halting U. S. bond purchases eased and investors focused on quarterly earnings reports and rising prices.

U. S. crude futures rose to $63.82 a barrel, its highest since December 2014, boosted by a surprise drop in U. S. production and lower crude inventories.

Positive brokerage recommendations on majors and lifted their shares up about 0.3 percent in premarket trading.

"It's back to a generally positive mode," said Scott Brown, at in St. Petersburg,

At 8:34 a.m. ET (1334 GMT), Dow were up 36 points, or 0.14 percent, with 21,314 contracts changing hands.

500 were up 4.5 points, or 0.16 percent, with 118,575 contracts traded.

were up 11.25 points, or 0.17 percent, on volume of 28,769 contracts.

The and the Nasdaq snapped their six-day rally on Wednesday after reported is increasingly convinced U. S. would soon announce an exit from the North American Free Trade Agreement.

"I think it is very disruptive.

We've seen a lot of firms concerned about supply chains going forward, and many have tried to secure alternative supply-chains if the pulls out of NAFTA. But the market is just taking this in a stride now," Brown said.

yields eased from their 10-month highs after dismissed a report saying Chinese officials had recommended halting the country's U. S. bond purchases.

Investors will be looking at the fourth-quarter earnings season, which begins on Friday with big U. S. lenders and

Earnings for 500 companies are expected to increase by 11.8 percent on average, with the biggest contribution from the energy sector, according to I/B/E/S.

was up 3.7 percent after the company's profit for the fourth quarter beat estimates.

shares jumped 6.10 percent after the Journal reported the was in deal talks with Japanese that could include a change in control of

Data showed U. S. prices fell in December for the first time in nearly 1-1/2 years amid declining costs for services, which could temper expectations that inflation will accelerate in 2018.

Separately, the number of Americans filing for unemployment benefits unexpectedly rose last week.

(Reporting by in Bengaluru; Editing by and Arun Koyyur)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 19:41 IST