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U.S. stock futures leaned higher on Thursday, on the heels of the worst two days of trading in nearly two months.
Futures on the Dow industrials YM00, +0.28% , S&P 500 ES00, +0.33% and Nasdaq 100 NQ00, +0.37% each rose between 0.4% and 0.5%.
The Dow industrials DJIA, -1.86% dropped 838 points over two days, the worst stretch since early August, as weak U.S. manufacturing data combined with worries on factors ranging from President Trump’s struggles in opinion polls to new tariffs unveiled against the European Union.
Asian markets followed with losses overnight, with the Nikkei 225 NIK, -2.01% sliding by 2% in Tokyo, though European stocks SXXP, +0.04% edged higher in early action.
More data is on tap including the non-manufacturing index from the ISM as well as jobless claims.
“Further deterioration would send a more concerning signal to monetary policymakers about the labor market outlook,” said Deutsche Bank strategists of the ISM index.
Chicago Fed President Charles Evans told Bloomberg Television he was concerned about the inflation outlook. He said he will go into the Federal Open Market Committee meeting ending on Oct. 30 asking whether still more accommodative policy is needed after two straight rate cuts.
A number of other Fed officials will be speaking, including Vice Chairman for Supervision Randal Quarles.