7:46 am: Walgreens earnings leading estimates, boosted by stock up craze from coronavirus
Walgreens Boots Alliance beat Wall Road earnings anticipations Thursday, sending shares up about 3% in early trading. The drugstore chain documented earnings per share of $1.52, topping the $1.46 per share predicted by analysts, in accordance to Refinitiv. Revenue was $35.82 billion for the quarter, in comparison to the $35.27 billion forecast. Walgreens stated it was on track with its 2020 forecast to have around flat advancement in advance of the coronavirus pandemic. — Fitzgerald
7:35 am: Strength stocks pop as oil selling prices rise
Along with the soar in oil price ranges, vitality stocks obtained a strengthen in premarket investing on Thursday. Shares of Exxon Mobil jumped almost 6% in prolonged buying and selling. Diamondback Vitality and Devon Strength soared nearly 10% each and every. Occidental Petroleum and Apache jumped extra than 10%. Electrical power stocks have been beaten down as demand for oil evaporated in the face of the coronavirus shutdown. — Fitzgerald
7:29 am: US oil jumps 10% on feasible stop to price war
US oil costs surged 10% to back again over $22 a barrel on Thursday just after President Donald Trump reported he expects Saudi Arabia and Russia to occur to an agreement about their selling price war that has included to the suffering for the crude sector, by now having hit by an unparalleled demand from customers slowdown from the coronavirus. WTI crude rose 9.4% to $22.22 for each barrel on Thursday early morning. The European oil benchmark, Brent crude, also rose 9.9% to $27.19 for every barrel. — Fitzgerald
7:22 am: Investors brace for huge weekly jobless promises report
The variety of jobless promises for the 7 days ending March 28 is slated to be produced Thursday at 8:30 a.m. ET. Economists expect yet another 4 million to 5 million workers filed for unemployment gains as coronavirus shutdowns roll via the region. The estimates assortment as high as 9 million. That follows the file 3.3 million statements submitted the week before. Many more tens of millions are continue to envisioned in the months to occur, and layoffs could easily double these in the monetary crisis, economists reported. – Li, Domm
7:16 am: US coronavirus circumstances prime 200,000
Verified COVID-19 cases in the U.S. surpassed 200,000 Wednesday, as the nation ramps up testing and outbreaks seeps into new citires. The coronavirus has now infected 203,608 men and women in the U.S., killing at the very least 4,476 men and women, in accordance to Johns Hopkins College. President Donald Trump has warned that the state could see an even better surge in conditions more than the up coming handful of weeks. White House officers are projecting 100,000 to 240,000 U.S. fatalities, with coronavirus fatalities peaking above the up coming two weeks. World-wide instances are now in excess of 900,000 with extra than 47,000 fatalities. — Fitzgerald
7:15 am: Inventory futures soar, Dow set to open up up 400 factors
U.S. inventory futures indicated an open in the inexperienced on Thursday, with the Dow Jones Industrial Normal long run soaring 400 details. The S&P 500 and Nasdaq Composite were also established to open better. The inventory futures had been bolstered by a 10% spike in oil, which expert a dismal first quarter because of to the coronavirus and an oil cost war involving Russia and Saudi Arabia.
Stocks are coming off of a disappointing initial day of the next quarter on Wednesday. The Dow shut 4.4%, or practically 1,000 points decreased. The S&P 500 and Nasdaq Composite also closed 4.4% lessen each and every.
A big jobless statements report in advance at 8:30 am ET would probably ascertain the route of the marketplace on Thursday. — Fitzgerald
— with reporting from CNBC’s Patti Domm.