Wall Street Momentum Intact As China Data Not Worse As Feared

The upward momentum witnessed in Wall Street could be sustained on Thursday, as indicated by the trading in the U.S. index futures, which points to a higher opening. With twin Chinese manufacturing readings precluding the worst fear of worsening conditions and commodities moving to the upside, risk appetite seems to have returned with full force. The domestic manufacturing activity data and jobless claims data could also determine the market mood, although temperance is likely as some traders prefer to stay on the sidelines ahead of Friday’s non-farm payrolls data.