Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Stock Futures Edge Higher Amid Mixed Economic Data

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/07/2013 | 03:13pm CEST

--Stock futures recover to tilt higher ahead of Thursday open

--Jobless claims come in higher than expected, while productivity falls by more than expected

--DJIA adds five; S&P gains one

By Tomi Kilgore and Alexandra Scaggs

NEW YORK--Stock futures edged slightly higher ahead of the open as investors digested mixed reports on the U.S. economy.

Less than 60 minutes ahead of Thursday's open, Dow Jones Industrial Average futures tacked on five points, less than 0.1%, to 13933. Standard & Poor's 500-stock index futures added one point, or 0.1%, to 1508 and Nasdaq 100 futures gained seven points, or 0.3%, to 2744.

Changes in stock futures don't always accurately predict stock moves after the opening bell.

There were 366,000 initial claims for jobless benefits in the latest week, more than the 360,000 expected.

The first read of fourth-quarter productivity showed a decline of 2% on the quarter, a bigger drop than the 1.6% expected. Unit labor costs rose 4.5%, more than the 3.2% gain expected.

Consumer credit for December, due at 3 p.m. EST, is expected to expand by $13 billion on the month.

Among early stock movers, US Airways Group rallied 3% after The Wall Street Journal reported the airline and American Airlines parent AMR are working out details of a merger agreement. The combination would get American out of bankruptcy, and create the world's largest airline.

European markets were mixed, with the Stoxx Europe 600 little changed, after the European Central Bank left key interest rates unchanged, as widely expected. A Spanish government bond auction witnessed strong demand. The Bank of England also left its policy unchanged.

Spain's IBEX 35 index rose 0.6% after Spain sold EUR4.61 billion ($6.23 billion) worth of government bonds, above the upper end of the targeted range of EUR4.5 billion. France also saw strong demand as it auctioned off EUR7.98 billion of government bonds. France's CAC 40 index tacked on 0.1%.

In Asia, Japan's Nikkei Stock Average fell 0.9%, pulling back from Wednesday's 3.8% surge, with a sharp drop in Nikon 7731.TO -18.95% shares following disappointing quarterly results weighing on sentiment. China's Shanghai Composite slipped 0.7% to snap an eight-session win streak.

Markets in China and Taiwan will be closed all of next week for Lunar New Year, while Hong Kong will be closed through Wednesday.

Front-month March crude-oil futures gained 0.3% to $96.92 a barrel, while February gold futures eased 0.2% to $1,674.80 an ounce. The dollar declined against the euro but gained ground against the yen. Yields on the benchmark 10-year U.S. Treasury bond fell to 1.964% as prices rose.

In other corporate news, Sprint Nextel shed 0.5% after the wireless carrier reported a narrower-than-expected fourth-quarter loss, but higher-than-forecast net customer losses.

Green Mountain Coffee Roasters slid 7.7% after the company's fiscal first-quarter earnings topped estimates while revenue was essentially in line, but its second-quarter sales growth outlook was below current projections.

Akamai Technologies slumped 17% after the Internet technology company's fourth-quarter revenue missed expectations, offsetting a slight beat in earnings and a $150 million extension of its stock repurchase program.

DeVry leapt 17% after the for-profit education company reported fiscal second-quarter earnings that were well above forecasts and revenue that declined less than expected.

Limited Brands declined 1.1% after the apparel retailer reported January same-store sales that rose above expectations, but kept its fiscal fourth-quarter earnings estimate unchanged.

Oxigene shot up 28% after the biopharmaceutical company said a Phase 2 study showed that its ovarian cancer treatment continued to be well tolerated, with no additional safety concerns.

Visa reported fiscal first-quarter earnings and revenue that beat estimates and authorized a new $1.75 billion stock buyback program. Still, the credit card company's stock lost 1.5% premarket.

Write to Tomi Kilgore at [email protected] and Alexandra Scaggs at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
12:42p EP GLOBAL OPPORTUNITIES TRUST : Transaction in Own Shares
12:42p CIT GROUP INC : Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
12:41p ELI LILLY AND COMPANY (NYSE : LLY) Files An 8-K Results of Operations and Financial Condition
12:41p YAXIA AUTOMOBILE : 2016 Net Soared 336%
12:41p BAKER HUGHES INCORPORATED (NYSE : BHI) Files An 8-K Results of Operations and Financial Condition
12:41p GREENLAND : 2016 Net up 4.66%
12:41p BANK OF SHANGHAI : 2016 Net Up 10%
12:41p NANJING PORT : Q1 Net Soared 259%
12:41p HYTERA COMMUNICATIONS : Q1 Operating Revenue Up 45%
12:41p OCEANWIDE : 2016 Net Up 38%
Latest news
Advertisement
Hot News 
11.97%LVMH's Arnault to take full control of Christian Dior
-5.63%CARPETRIGHT : says market tougher, shares tumble
-6.52%WHITBREAD : Britain's Costa Coffee-owner Whitbread sees tougher times ahead
-3.85%TELEFONAKTIEBOLAGET LM ERICSSON : Ericsson Pushed to Hefty Loss by Write-Downs, Restructuring Costs
4.29%LVMH : to Buy Christian Dior Couture for EUR6 Billion
Most Read News
04/24 Ahead of NAFTA talks, U.S. sets 20 percent duties on Canadian softwood lumber
01:29a TOSHIBA TO START TAKING BIDS IN JUNE FOR ITS SWISS UNIT LANDIS+GYR : Kyodo
02:35aDJLVMH : to Buy Christian Dior Couture for EUR6 Billion
01:40aDJNOVARTIS : 1Q Net Income Down 17%, Hurt by Drug Failure
01:19aDJSAP : 1Q Net Profit EUR521 Million, Revenue EUR5.3 Billion
Most recommended articles
04/21 TWENTY FIRST CENTURY FOX : Government extends period for regulators to report on Sky-Fox merger
06:38aDJHefty Stocks Keep Oil Price Near April Low
06:32a LVMH's Arnault to take full control of Christian Dior
06:29a BERNARD ARNAULT : LVMH's Arnault to take full control of Christian Dior
06:27aDJSINGAPORE PRESS : Buys Local Health-Care Firm for S$164 Million