US Market

Stocks may turn in another lackluster performance during trading on Thursday after showing a lack of direction throughout the previous session. The major index futures are currently indicating a slightly higher open for the markets, with the Dow futures up 17 points.

Traders continue to have questions about the outlook for the markets in spite of the release of some key economic data. A number of traders are likely to stay on the sidelines amid a lack of significant corporate news.

The report showed that GDP decreased at an annual rate of 1.0 percent in the second quarter, unchanged from the 1.0 percent decrease originally reported in late July. Economists had been expecting GDP to be revised to show a decrease of 1.5 percent.

The Commerce Department said upward revisions to exports, residential fixed investment, consumer spending, and government spending were offset by downward revisions to private inventory investment and to nonresidential fixed investment.

Separately, the number of people filing for first-time unemployment claims edged down last week, according to a report released by the Labor Department, although jobless claims remain at a relatively high level.

The report showed that jobless claims edged down to 570,000 from the previous week's revised figure of 580,000. Economists had been expecting jobless claims to slip to 565,000 from the 576,000 originally reported for the previous month.

Canadian, Commodities News

Toronto's main index was unable to break out of a stubborn range Thursday morning despite strong earnings results from major Canadian lenders.

The S&P/TSX Composite Index was up 13.30 points at 10,925. Resource stocks pulled back as the US dollar strengthened, weighing on commodity prices. However, financials rose after earnings results from Canada's big six bans continued to top estimates.

Asia Markets

Asian markets finished lower with the Japanese Nikkei sliding after the recent strong gains, while investors were also cautious ahead of the national election over the weekend.

Stock markets across the Asia-Pacific region closed mostly lower on Thursday. Japan's benchmark Nikkei 225 Index slid by 1.6 percent, while Hong Kong's Hang Seng Index closed down by 1 percent.

Investors are weary about buying as they expect Japan's opposition Democratic Party will win the Aug. 30 national election. Attention has turned to what the new party, and in particular the new finance minister, will do with the economy.

Across the markets, the Dow Jones is down 165 points to 10,473 with the Hang Seng sliding 213 points to 20,242.

European Markets

Europe’s main markets turned negative in midday trade with a weak beverage sector offsetting strong financials and utilities.

Meanwhile, the major European markets are mixed, with the German DAX Index falling by 0.1 percent while the U.K.'s FTSE 100 Index and the French CAC 40 Index are up by 0.2 percent and 0.3 percent, respectively.

Source: ADVFN