Member access

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
Recommend:
0

--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.

Recommend :
0
React to this article
Latest news
Date Title
<1m ago RIB SOFTWARE : RIB Software AG (RSTA) signs an iTWO Cloud Phase I Deal with New Zealand Construction Giant for Nation Building Roads Project (DGAP News)
1m ago RESEARCH AND MARKETS : The Automotive Transmissions Report 2014
3m agoDJPRESS RELEASE : The Conference Board Leading Economic Index(R) (LEI) for the Euro Area Increased in June
4m ago CABLE AND WIRELESS COMMUNICATIONS : Say On Track For Targets On Solid First Quarter
4m ago Eurogroup's Wieser sees euro zone reforms biting slowly - paper
5m ago German Ifo business morale index falls in July
6m ago RESEARCH AND MARKETS : Sub-Saharan African Mobile End-user Trends
7m ago MURCHISON METALS : Removal from Official List (COB 25/07/2014)
7m ago MINERA GOLD : Shares Issued on 24 April 2014 - Dilution
7m ago GREENKO : Pricing of Senior Notes
Latest news
Advertisement
Hot News 
CTAC : Upholding the law: Sindh Police finally gets its vehicles registered
WESSANEN : Royal Wessanen Q2 2014 results and semi-annual financial report
CARILLION : Possible Merger - Balfour Beatty and Carillion
ROYAL BANK OF SCOTLAND : Double funding boost for women's charity
QR ENERGY : Acquisition of QR Energy, LP by Breitburn Energy Partners LP May Not Be in Shareholders' Best Interests
Most Read News
1d ago MASTERCARD : Visa cuts revenue forecast as cross-border transactions slow
1d ago STARBUCKS : sales in Americas region up slightly more than expected
1d ago MOODY : assigns A1 underlying and Aa3 enhanced ratings to Catskill CSD NY's $5.9M GO Bonds
1d ago MCDONALD : takes chicken nuggets off menu in Hong Kong amid food scare
1d ago COCA COLA : Governor denies switching to Fanta to boycott Coca-Cola
Most recommended articles
3m agoDJPRESS RELEASE : The Conference Board Leading Economic Index(R) (LEI) for the Euro Area Increased in June
4m ago Eurogroup's Wieser sees euro zone reforms biting slowly - paper
4m ago German Ifo business morale index falls in July
8m ago A G BARR : Irn-Bru maker AG Barr outperforming tough UK soft drinks market
11m ago India seeks 'visible outcomes' on food subsidies before backing WTO protocol
Dynamic quotes  
ON
| OFF