Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

U.S. Stock Futures Hold Steady Ahead Of Jobless-Claims Data

01/31/2013 | 08:24am US/Eastern

--Stock futures hover near unchanged ahead of jobless claims, personal spending, income data

--Europe declines after German retail-sales data surprise with a sharp decline

--Japanese stocks hit highest level in more than four years; Australia snaps 10-session win streak

--Weekly jobless claims seen rising to 365,000; spending, incomes expected to increase slightly

 
   By Tomi Kilgore 
 

NEW YORK--U.S. stock futures waffled around unchanged levels, with investors looking ahead to reports on jobless claims, personal income and spending to see whether the market can end the strongest January in decades on a bright note.

About 90 minutes ahead of the open, Dow Jones Industrial Average futures inched lower by one point, or less than 0.1%, to 13837. On Wednesday, the Dow fell 44 points, or 0.3%, the biggest one-day decline since Jan. 8, but was still on track for its best January performance since 1989.

Standard & Poor's 500-stock index futures were unchanged at 1495 and Nasdaq 100 futures lost seven points, or 0.3%, to 2729.

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

Data on initial claims for jobless benefits in the latest week are due out at 8:30 a.m. EST. The median estimate of economists surveyed by Dow Jones Newswires is for a rise to 365,000 from the previous week's 330,000.

Also at 8:30 a.m. EST, personal income for December is seen rising 1% on the month, consumer spending is expected to rise 0.2% and core personal consumption expenditures are pegged to rise 0.1%. At 9:45 a.m., the Chicago-area purchasing managers index for January is expected to rise to 50.0 from December's 48.9; a reading of 50 and above indicates expansion.

Among stocks seeing premarket activity, shares of Facebook slid 6.7% after the social-network company reported fourth-quarter earnings and revenue that topped analyst estimates, but its operating margin narrowed and costs surged on the year, and monthly active visitors rose modestly from the third quarter.

European markets were broadly lower, with the Stoxx Europe 600 off 0.4% and on track for a two-week closing low, following weak German data and after the U.S. Federal Reserve late Wednesday said economic activity paused in recent months.

Retail sales in Germany fell 1.7% in December, much worse than expectations of 0.2% growth. Germany's DAX index lost 0.3%.

Asian markets were mixed, with Japanese stocks finishing off a strong month on a bright note amid broad gains in the banking sector. Japan's Nikkei Stock Average rose 0.2% on the day, and climbed 7.2% on the month, to the highest level since October 2008. China's Shanghai Composite gained 0.1% to an eight-month high, while Australia's S&P ASX 200 declined 0.4% to snap a 10-session winning streak.

Front-month March crude-oil futures slipped 0.2% to $97.72 a barrel, while February gold futures eased 0.3% to $1,675.40 an ounce. The dollar rose slightly against the euro but lost ground against the yen.

In corporate news, Qualcomm rallied 6.3% after the semiconductor maker beat both earnings and revenue estimates of its fiscal first-quarter, citing strong global demand for smartphones, and provided an upbeat outlook for the current quarter.

WMS Industries shot up 56% after Scientific Games agreed to acquire the fellow game company for about $1.5 billion. Scientific Games' stock was still untraded ahead of the open.

Celsion plummeted 83% after the company said a late-stage study of its liver-cancer treatment didn't meet its primary endpoint.

Online Resources soared 80% after the provider of online-banking services agreed to be acquired by ACI Worldwide in a deal valued at $263 million. ACI shares were still inactive ahead of the open.

Fusion-IO tumbled 16% after the data-storage company's fiscal second-quarter earnings and revenue beat estimates, but the company said it expects to report an adjusted loss during the current quarter versus expectations of a profit, given customer-order timing issues.

JDS Uniphase climbed 14% after the broadband-products maker reported better-than-expected fiscal second-quarter earnings and revenue, led by strength in its communications and commercial-optics products business.

Citrix Systems surged 11% after the software maker reported fourth-quarter earnings and revenue that were well above expectations and provided a full-year revenue outlook that was above current analyst projections.

Nasdaq OMX reported fourth-quarter earnings and revenue that topped estimates, citing strength in its U.S. options, proprietary-data and global-index businesses. The stock was still untraded in the premarket.

Write to Tomi Kilgore at tomi.kilgore@dowjones.com.

React to this article
Latest news
Date Title
12:20a NEW WORLD DEVELOPMENT : Connected Transaction in relation to Disposal of all the Issued Shares of and Assignment of Shareholder's Loan in New World Hotel Management (BVI) Limited and Continuing Connected Transactions regarding the Master Hotel Leasing Agreement
07/04 FOOD RECALL WARNING : Gloria's Brand and Lunch Box Roast Beef Sandwich Products Recalled Due to Listeria Monocytogenes
07/04 CALTEX AUSTRALIA : Change to Caltex's fuel supply chain in Queensland
07/04 CFIA CANADIAN FOOD INSPECTION AGENCY : Food Recall Warning (Listeria) - Gloria's brand and Lunch Box Roast beef sandwich products
07/04 WAL MART STORES : BRIEF: Sheriff's Office IDs Walmart crash victims
07/04 WAL MART STORES : Names still being withheld in Walmart incident
07/04 MEIKLES : Posts U.S.$34,4 Million Loss in Fy14, Eyes the DRC Market
07/04 STANDARD CHARTERED : WCFCB Seals Deal With Standard Chartered
07/04 ENGRO : Departure: Asif Saad quits board of Engro Corporation
07/04 TAKAMATSU CONSTRUCTION : Art with a view
Latest news
Advertisement
Hot News 
NATERA : Nasdaq: NTRA) to Ring The Nasdaq Stock Market Opening Bell in Celebration of IPO
UBISENSE : Hit By Contract Delays, To Restructure Operations
SEAE HLDG : SeaSpine Holdings Corporation Begins Trading on NASDAQ
OUTSOURCERY : New Debt Facilities from Vodafone
STADIUM : Trading In Line With China Facility Relocation On Track
Most Read News
07/04 PROVEXIS : Placing of shares via Primarybid.com
07/04 GUARANTY BANK : Innoson Group, GTBank square up over N30b lawsuit
07/04 FTD : Celebrates Grateful Dead "Fare Thee Well" Tour With Tie-Dyed Roses (Updated With New Images)
07/04 SAUDI BASIC : Tadawul: Multi-investment, media sectors suffer losses
07/04 SAVILLS : Is the future now looking brighter for beach towns?
Most recommended articles
07/04 Rubbing along with robots tackles Abe's double dilemma
07/04 Greece votes in referendum with future in euro in doubt
07/04 Greece votes in referendum with future in euro in doubt
07/04 UNITED RUSAL : EU imposes anti-dumping duties on Russian aluminium foil
07/04 EBA chief dismisses rumours over haircuts to Greek deposits