European markets are called to open positive this morning.
Asian stocks fell on concern the U.S. economic recovery is faltering; overshadowing gains by Japanese exporters after the nation intervened in the foreign-exchange market to sell the yen.
Commonwealth Bank of Australia, the country’s No. 1 lender, fell 1.1 percent in Sydney. Toyota Motor Corp., the world’s biggest carmaker, reversed earlier losses after Japan’s Finance Minister Yoshihiko Noda said the country intervened to stem the yen’s gains against the dollar. Hitachi Ltd. and Mitsubishi Heavy Industries Ltd. jumped at least 2.4 percent after the two companies were said to be in talks to merge some businesses.
After trading sharply lower most of the day, stocks slowly climbed back to end Wednesday’ session modestly positive, ending an eight-day losing streak for the Dow.
The Dow Jones industrial average rose 30 points, or 0.3%, to close at 11,896. The S&P 500 gained 6 points, or 0.5%, to 1,260; and the Nasdaq Composite added 24 points, or 0.9%, to 2,693.
Events this week
Thursday – The Labor Department’ closely-watched weekly initial jobless claims data comes out at 8:30 a.m. ET, with economists expecting claims to rise to a reading of 405,000 claims from last week’ 398,000 claims.
Food company and Dow member Kraft will report its earnings after the closing bell. Analysts are looking for Kraft to post a profit of 58 cents a share.
Southwest Airlines, CVS Caremark, First Solar and insurance company AIG are also scheduled to report their financial results.
Friday -- The week culminates with the Labor Department’ July jobs report, which comes out at 8:30 a.m. ET.
Outside of the government’ non-farm payrolls report, investors will also have earnings from Dow member Procter & Gamble as well as the Washington Post Co. and Viacom.