By Sruthi Shankar
(Reuters) - Wall Street was set for a positive session on Thursday, as speculation over China halting U. S. bond purchases eased and investors focused on quarterly earnings reports and rising oil 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.
At 8:34 a.m. ET (1334 GMT), Dow e-minis were up 36 points, or 0.14 percent, with 21,314 contracts changing hands.
The S&P and the Nasdaq snapped their six-day rally on Wednesday after Reuters reported Canada is increasingly convinced U. S. President Donald Trump 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 President pulls out of NAFTA. But the market is just taking this in a stride now," Brown said.
Delta Air Lines was up 3.7 percent after the company's profit for the fourth quarter beat estimates.
Xerox shares jumped 6.10 percent after the Wall Street Journal reported the copier maker was in deal talks with Japanese camera maker Fujifilm Holdings that could include a change in control of Xerox.
Data showed U. S. producer 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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)