(fxcue news) - Subdued GIFT Nifty, weak Asian stocks and the overnight mixed close on Wall Street point to a slightly negative start for Indian shares Thursday morning. Investors are likely to react to a slew of quarterly earnings announcements. With some crucial U.S. economic data, including retail sales, producer prices and industrial production, and Fed Chair Jerome Powell's speech due later in the day, the mood is likely to remain cautious. Traders also were reluctant to make more significant moves ahead of the release of a slew of U.S. economic data on Thursday, including producer prices, retail sales and industrial production. A speech by Federal Reserve Chair Jerome Powell is also likely to attract attention. In earnings news, Eicher Motors Limited reported a 27.3% jump in fourth-quarter earnings to Rs 1,362.2 crore, compared to a year ago. Jubilant Foodworks Ltd., said its profit climbed 93% to Rs 49.5 crore in the fourth-quarter, from Rs 25.6 crore in the year-ago quarter. Lupin's net profit surged 112.5% to Rs 782.4 crore in the fourth-quarter, compared to the year-ago quarter. Tata Power and Muthoot Finance reported about 43% and 25%, jump in their quarterly earnings. LIC Housing Finance, Abbott India, Balrampur Chini Mills, GMDC, Godrej Industries, Godfrey Philips, ITC Hotels, Welspun Enterprises, Patanjali Foods are some of the companies scheduled to announce their quarterly earnings today. Indian shares closed modestly higher on Wednesday after a choppy session. Signs of easing retail inflation sparked hopes for more rate cuts from the Reserve Bank of India in coming months. Official data showed India's consumer price inflation eased further in April to the lowest level in nearly six years amid a slower rise in food prices. Consumer price inflation eased more-than-expected to 3.16% in April from 3.34% in February. Softer-than-expected consumer inflation data from the U.S. also underpinned sentiment but trading was somewhat volatile due to mixed cues from global markets. The benchmark S&P BSE Sensex fluctuated before ending up 182.34 points, or 0.22%, at 81,330.56, while the broader NSE Nifty index closed at 24,666.90, up 88.55 points, or 0.36%, from its previous close. Asian stocks are mostly weak this morning, with the Japanese Nikkei falling more than 400 points, as investors await fresh data, and clarity on U.S. tariffs. On Wall Street, stocks showed a lack of direction over the course of the session on Wednesday before finishing mixed. The Dow slumped 89.37 points or 0.21% to finish at 42,051.06, while the NASDAQ rallied 136.72 points or 0.72% to close at 19,146.81 and the S&P 500 rose 6.03 points or 0.1% to end at 5,892.58. While trade deals between the U.S. and China and the U.K. have helped ease concerns about President Donald Trump's trade policies, uncertainty about the eventual outcome continues to hang over the markets.