Here are the events that take place on Thursday.
The Labor Department released its tally of new claims for unemployment benefits last week.
The labor market is starting to cool, and the report is likely to show that. Expectations are for 203,000, up from 193,000 the previous week when layoffs fell unexpectedly to the lowest since late April.
The number of workers who are collecting unemployment benefits is expected to drop to 1.345 million. It would be the fifth week in a row since July 2, and it would be the lowest weekly decline since July 2.
MONTHLY JOBS : This week s key economic report, September s employment data out Friday morning, should give investors some idea of the impact that higher borrowing costs are having on growth.
The U.S. economy likely added 250,000 new non-farm jobs in September, according to economists surveyed by Refinitiv. That is down from 315,000 the previous month and would mark the weakest job growth since December 2020.
The labor market is not happy with employers refusing to lay off workers, as the pace of job growth is slowing. The unemployment rate is expected to hold steady at 3.7%.
Elon Musk may need to find other firms to finance his takeover of Twitter.
According to two sources familiar with the matter, Apollo Global Management Inc. and Sixth Street Partners, which were looking to provide funding earlier this year, are no longer in talks with the billionaire entrepreneur.
Apollo, Sixth Street and other investors were looking to commit $1 billion in financing for the deal at the time.
When Musk started having second thoughts about the purchase, the talks ended.
CHEVRON: Shares rose by 0.5% in extended trading as Chevron and other U.S. oil companies may be able to pump oil in Venezuela if the South American country agrees to a deal, The Wall Street Journal reported.
Multiple people familiar with the negotiations told The Journal that the U.S. would lower sanctions if the Venezuelan government restarts talks with opposition leaders over free and fair presidential elections.
The Journal said if successful, the agreement would only release a limited amount of petroleum into global markets in the short term.
OIL PRICES: Traded near three-week highs on Thursday after OPEC agreed to further tighten global crude supply with a deal to reduce production by 2 million barrels per day, the largest reduction since 2020.
U.S. West Texas Intermediate WTI crude futures traded around $88.00 per barrel, a 1.4% rise on Tuesday.
The price of crude futures was around $94.00 per barrel, after settling 1.7% higher in the previous session.
The deal was criticized by the administration of President Biden as being shortsighted. The White House said Biden would continue to assess whether or not to release further strategic oil stocks to lower prices.