Australia

Australian stock futures are pointing to an uncertain open for the S&P/ASX 200. US equities provided a positive lead but Australia's benchmark index is coming off its best day since mid July, which may tempt some traders to take profits.

ASX futures were up 0.05% or 4 points as of 8:00am on Thursday, suggesting a flat open.

US equities provided a positive lead but Australia's benchmark index is coming off its best day since mid July, which may tempt some traders to take profits. Woodside, Woolworths and REA are also among stocks that will trade ex-dividend. The ASX 200 is on a three-day winning streak and up 2.6% this week. The S&P 500 rose 0.4% Wednesday. The tech-heavy Nasdaq Composite gained 0.5%, while the blue-chip Dow Jones Industrial Average edged 0.1% higher.

The S&P 500 increased 0.4%. The tech-heavy Nasdaq Composite gained 0.5% while the blue-chip Dow Jones Industrial Average rose 38 points, or 0.1%. Nine of the S&P 500's 11 sectors finished in the green.

The broad index has gained 3.2% since Friday, the largest four-day advance since April.

In commodity markets, Brent crude oil rose 0.5% to US$85.95 a barrel while gold was slightly up at US$1,942.32.

In local bond markets, the yield on Australian 2 Year government bonds unchanged at 3.83% while the 10 Year yield rose to 4.07%. US Treasury notes were higher, with the 2 Year yield unchanged at 4.89% and the 10 Year yield lower at 4.11%.

The Australian dollar was relatively flat at 64.74 US cents from its previous close of 64.78. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, edged down to 97.96.

Asia

China shares closed mixed as investors weigh geopolitical risks and the prospect of further stimulus measures from Beijing. US Commerce Secretary Gina Raimondo, who is currently visiting China, said US companies told her that China had become "uninvestible." Meanwhile, China's southern city of Guangzhou became the first major city to announce an easing of mortgage curbs to boost consumption. Software makers led the gains. Beijing Kingsoft Office added 2.6% and iFlytek rose 6.5%. Financial and bank stocks weighed on the market. East Money Information shed 2.7% and Bank of China dropped 1.05%. The benchmark Shanghai Composite Index closed flat at 3137.14. The Shenzhen Composite Index advanced 0.4% and the tech-heavy ChiNext Price Index slipped 0.05%.

Hong Kong shares ended flat as investors weighed the potential impact of Beijing's latest stimulus efforts against concern about tensions between the US and China. The Hang Seng Index ended flat at 18482.86. The Hang Seng Tech Index dropped 0.9%, with Meituan sliding 2.3%, Kuaishou Technology falling 5.4% and Tencent Holdings dropping 1.1%. The Hang Seng Mainland Properties Index edged up 0.3%, buoyed by the mortgage easing policies. KE Holdings increased 1.6% and Longfor Group Holdings added 0.9%.

Japanese stocks ended higher, led by gains in machinery and electronics stocks, as concerns about further Fed tightening continue to recede. Mitsubishi Heavy Industries gained 2.8% and Kyocera advanced 2.3%. The Nikkei Stock Average rose 0.3% to 32333.46. Investors are focusing on economic data, including US private-sector jobs data due later in the day, for policy implications.

Indian shares ended flat, as gains in industrial and tech stocks offset the sell-off in the financial sector. Investors are focusing on economic data and their policy implications. Tata Steel gained 2.1% and Maruti Suzuki India rose 1.5%. Among individual gainers, Jio Financial Services jumped 5.0% and was the biggest gainer on the index. IndusInd Bank declined 0.55% and ICICI Bank retreated 1.0%. The benchmark Sensex was flat at 65087.25.

Europe

European stocks mostly fell ahead of an expected slightly lower US open, though Asia markets broadly rose overnight. The Stoxx Europe 600 dropped 0.2%, France's CAC 40 down 0.1% and Germany's DAX backtracked about 0.2%.

The FTSE 100 closed Wednesday with a sixth consecutive day of gains, despite closing off early highs, helped by softer economic US data reinforcing hopes of a rate pause next month. "Yesterday's solid gains have given way to a more muted atmosphere today, but the sense of a slowing US jobs picture has been given a boost by the ADP report's miss this afternoon," Chief Market Analyst at online trading platform IG Chris Beauchamp said. House builders had another decent day with Persimmon rising 2.3%, topping the index. The London blue-chip index ended 0.12% at 7,473.67 points.

North America

Stocks rose for a fourth straight session, continuing a strong late-summer rally.

The S&P 500 increased 0.4%. The tech-heavy Nasdaq Composite gained 0.5% while the blue-chip Dow Jones Industrial Average rose 38 points, or 0.1%. Nine of the S&P 500's 11 sectors finished in the green.

The broad index has gained 3.2% since Friday, the largest four-day advance since April.

US gross domestic product rose at a 2.1% annualized rate in April through June after adjusting for seasonal effects and inflation, the Commerce Department said Wednesday. That was a downward revision from the previous estimate of 2.4%.

That followed data earlier this week that showed job openings and consumer confidence in decline.

"You want to have this sweet spot where the economy is chugging along, but not too hot where inflation rears its ugly head again," said Nadia Lovell, senior US equity strategist at UBS Wealth Management.

Government bond prices rose as yields declined. The 10-year yield settled at 4.117%, down from 4.121% on Tuesday. The two-year yield fell to 4.884% from 4.888%.

The Federal Reserve's next move with interest rates continues to concern investors. The central bank's chair, Jerome Powell, said last week that inflation is still too high, raising the possibility that more interest-rate increases could still be in store. The Fed's next policy meeting is scheduled to start on Sept. 19.

The July reading of the personal-consumption expenditures price index, the Fed's preferred inflation metric, is expected on Thursday morning. The monthly jobs report for August is due Friday.

"We're looking for slower job growth, fewer openings, softer numbers in the economy. I think the market is in a pretty good spot," said Ken Mahoney, CEO of Mahoney Asset Management.

The S&P 500 is still down 1.6% for the month, but is ending on a high note. The broad index has gained 2.5% this week.

"If we were in this bear market, we would see utilities start to pick their head up [and] consumer staples. They're two of the biggest laggards," said Jay Woods, chief global strategist at Freedom Capital Markets.

Utilities are down 5.8% so far this month, while consumer staples are off 3.3%. The best-performing sector in August is energy, which has advanced 1.1%.

Energy prices rose. Natural-gas futures gained 5.03% while crude oil futures settled at $81.63 per barrel, up 0.6%.

Among individual stocks, medical device company Insulet rose 6.4%, the top performer in the S&P 500. Dexcom shares gained 2.8%. HP was the largest decliner in the broad index, falling 6.6% after a disappointing earnings outlook.

Mastercard and Visa rose less than 1% after The Wall Street Journal reported that the companies plan to raise fees that many merchants pay when they accept consumers' credit cards.