U.S. Stocks May See Initial Weakness Amid Slump By Disney

(RTTNews) - After closing mixed for two consecutive sessions, stocks may move to the downside in early trading on Thursday. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.3 percent.

A slump by shares of Disney (DIS) may weigh on the markets, as the entertainment giant is plunging by 6.0 percent in pre-market trading.

Disney is under pressure after reporting fiscal fourth quarter earnings that exceeded analyst estimates but weaker than expected revenues.

Selling pressure may be somewhat subdued, however, as President Donald Trump signed a bill last night officially ending the longest government shutdown in U.S. history.

The bill ending the shutdown, which extends funding for most agencies until January 30th, should lead to the resumption of the release of key U.S. economic data, providing additional clarity for the markets.

However, White House press secretary Karoline Leavitt told reporters on Wednesday that the October jobs and consumer price inflation reports are "likely never being released" as a result of the shutdown.

Following the mixed performance seen during Tuesday's session, the major U.S. stock indexes once again moved in opposite directions during trading on Wednesday.

While the Dow climbed to a new record closing high, the tech-heavy Nasdaq showed another moderate move to the downside.

The Nasdaq fell 61.84 points or 0.3 percent to 23,406.46, but the S&P 500 inched up 4.31 points or 0.1 percent to 6,850.92 and the Dow climbed 326.86 points or 0.7 percent to 48,254.82.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Japan's Nikkei 225 Index rose by 0.4 percent, while China's Shanghai Composite Index advanced by 0.7 percent.

Meanwhile, the major European markets are turning in a mixed performance on the day. While the French CAC 40 Index is up by 0.3 percent, the German DAX Index is down by 0.6 percent and the U.K.'s FTSE 100 Index is down by 0.7 percent.

In commodities trading, crude oil futures are climbing $0.65 to $59.14 a barrel after plummeting $2.55 to $58.49 a barrel on Wednesday. Meanwhile, after spiking $97.30 to $4,213.60 an ounce in the previous session, gold futures are rising $15.20 to $4,228.80 an ounce.

On the currency front, the U.S. dollar is trading at 154.66 yen versus the 154.77 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1616 compared to yesterday's $1.1592.