Investing.com - U.S. stock futures pointed to a modestly higher open on Thursday, as investors awaited a flurry of key U.S. data on jobless claims and manufacturing activity to gauge the strength of the nation’s economy.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a modest gain of 0.2%, S&P 500 futures signaled a 0.25% increase, while the Nasdaq 100 futures indicated a 0.25% rise.
U.S. equities will attempt to extend their win streak to seven consecutive sessions of gains on Thursday as markets await a clutch of data ahead of the open.
The U.S. will release government data on producer price inflation, as well as official data on unemployment claims. The country will also produce reports on manufacturing activity in New York and Philadelphia.
Shares in lenders were expected to be in focus yet again, as investors continued to asses the results of the Federal Reserve’s annual stress test for banks.
Citigroup, which was one of the four lenders that failed the test, shed 0.45% ahead of the open, but Bank of America and JP Morgan, which both passed, added 1.1% and 0.8% respectively.
Meanwhile, shares in Capital One Financial slumped 1% after saying it would sell USD1.25 billion of its common stock to pay for a portion of its acquisition of HSBC Holding's U.S. credit card business.
Clothing retailer Guess plunged 12% in pre-market trade after reporting lower-than-expected fiscal fourth quarter net profit. The company also forecast a weak first-quarter profit as it expects belt-tightening by European governments to hurt consumer spending.
On the upside, Apple, which is the biggest Nasdaq component, rose 1.3% to hit a fresh record high just below USD600 after a Dutch court rejected Samsung’s 3G patent bid to ban iPhone and iPad sales in the Netherlands.
Also Thursday, retail and consumer companies, such as Ross Stores and TravelCenters of America are slated to release corporate earnings later in the day.
Across the Atlantic, European stock markets traded in a tight range, as investors took a breather following this week’s strong rally on the back of an improving economic picture in the U.S.
The EURO STOXX 50 eased up 0.1%, France’s CAC 40 was flat, Germany's DAX added 0.3%, while Britain's FTSE 100 dipped 0.1%.
U.K. shares were pressured after ratings agency Fitch placed the U.K.’s triple-A credit rating on negative outlook late Wednesday.
The agency warned that the country had more than a 50% chance of losing the rating as the UK government had “limited fiscal space” left for maneuver.
During the Asian trading session, Hong Kong's Hang Seng Index eased up 0.05%, while Japan’s Nikkei 225 Index climbed 0.72% to settle at an eight-month high, as exporters rose on the back of a weaker yen.
Shares in Hong Kong, however, swung between gains and losses amid renewed concerns over China’s economic growth outlook.
Chinese Premier Wen Jiabao said on Wednesday that China must embrace slower growth and bolder political reform to keep its economy from faltering.
He also dampened hopes for any near-term easing measures in the country's property sector.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a modest gain of 0.2%, S&P 500 futures signaled a 0.25% increase, while the Nasdaq 100 futures indicated a 0.25% rise.
U.S. equities will attempt to extend their win streak to seven consecutive sessions of gains on Thursday as markets await a clutch of data ahead of the open.
The U.S. will release government data on producer price inflation, as well as official data on unemployment claims. The country will also produce reports on manufacturing activity in New York and Philadelphia.
Shares in lenders were expected to be in focus yet again, as investors continued to asses the results of the Federal Reserve’s annual stress test for banks.
Citigroup, which was one of the four lenders that failed the test, shed 0.45% ahead of the open, but Bank of America and JP Morgan, which both passed, added 1.1% and 0.8% respectively.
Meanwhile, shares in Capital One Financial slumped 1% after saying it would sell USD1.25 billion of its common stock to pay for a portion of its acquisition of HSBC Holding's U.S. credit card business.
Clothing retailer Guess plunged 12% in pre-market trade after reporting lower-than-expected fiscal fourth quarter net profit. The company also forecast a weak first-quarter profit as it expects belt-tightening by European governments to hurt consumer spending.
On the upside, Apple, which is the biggest Nasdaq component, rose 1.3% to hit a fresh record high just below USD600 after a Dutch court rejected Samsung’s 3G patent bid to ban iPhone and iPad sales in the Netherlands.
Also Thursday, retail and consumer companies, such as Ross Stores and TravelCenters of America are slated to release corporate earnings later in the day.
Across the Atlantic, European stock markets traded in a tight range, as investors took a breather following this week’s strong rally on the back of an improving economic picture in the U.S.
The EURO STOXX 50 eased up 0.1%, France’s CAC 40 was flat, Germany's DAX added 0.3%, while Britain's FTSE 100 dipped 0.1%.
U.K. shares were pressured after ratings agency Fitch placed the U.K.’s triple-A credit rating on negative outlook late Wednesday.
The agency warned that the country had more than a 50% chance of losing the rating as the UK government had “limited fiscal space” left for maneuver.
During the Asian trading session, Hong Kong's Hang Seng Index eased up 0.05%, while Japan’s Nikkei 225 Index climbed 0.72% to settle at an eight-month high, as exporters rose on the back of a weaker yen.
Shares in Hong Kong, however, swung between gains and losses amid renewed concerns over China’s economic growth outlook.
Chinese Premier Wen Jiabao said on Wednesday that China must embrace slower growth and bolder political reform to keep its economy from faltering.
He also dampened hopes for any near-term easing measures in the country's property sector.