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After Wild Wednesday, Economic Data Being Closely Watched

After Wednesday’s market turbulence, traders will be watching Thursday’s economic reports for any further indications the U.S. economy is running into headwinds.

Stocks sold off sharply but erased much of their losses Wednesday, with the S&P 500 closing 0.8 percent lower at 1862. Stock futures were lower late Wednesday. Netflix, a popular momentum name, dipped 25 percent in afterhours trading after reporting disappointing subscriber growth.

Disappointing economic reports – weaker retail sales, a decline in producer prices and a surprising drop in the Empire State index – were one catalyst for Wednesday’s selloff. Thursday’s data includes weekly jobless claims at 8:30 a.m. ET, industrial production at 9:15 a.m. and the Philadelphia Federal Reserve survey and National Association of Home Builders sentiment survey, at 10 a.m.

CNBC [1]

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