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U.S. futures steady after record close; Dow Jones down 0.02%

Published 12/27/2013, 05:57 AM
U.S. futures point to steady open
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Investing.com - U.S. stock futures pointed to a steady open on Friday, after a record close on Thursday following the release of upbeat U.S. jobless claims data.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.02% dip, S&P 500 futures signaled a 0.11% loss, while the Nasdaq 100 futures indicated a 0.06% slip.

The U.S. Department of Labor on Thursday said that the number of individuals filing for initial jobless benefits declined by 42,000 to a seasonally adjusted 338,000 last week. Analysts had expected U.S. jobless claims to fall by 35,000 to 345,000 from the previous week’s revised total of 380,000, which was the highest since March.

The upbeat data added to the view that the U.S. economy will be strong enough to allow the Federal Reserve to continue withdrawing stimulus through 2014.

Package-delivery companies were expected to be active, after saying on Thursday that they were overwhelmed by volume. FedEx shares edged up 0.14% in pre-market trade. Online retailer Amazon.com, up 0.21% in early trading, offered to refund shipping charges.

Time Warner and Viacom were also likely to be in focus, following the Christmas debuts of blockbusters such as the second Hobbit film, "Anchorman 2", "The Secret Life of Walter Mitty" and "47 Ronin".

In the tech sector, Apple was reportedly seeking to once more ban sales in the U.S. of Samsung Electronics products that were at issue in the companies’ first patent trial in California and are now no longer on the market.

Separately, Chinese mobile phone makers asked regulators to make sure Microsoft's EUR5.44 billion bid to take over Nokia's handset business doesn’t result in higher patent fees on wireless technology.

Elsewhere, McDonald’s, currently under pressure to increase pay for its workers, said it is removing a resources website for employees, after critics pummeled the fast food giant for tips such as breaking food into small pieces to feel more full.

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 advanced 0.77%, France’s CAC 40 climbed 0.84%, Germany's DAX gained 0.67%, while Britain's FTSE 100 rose 0.59%.

During the Asian trading session, Hong Kong's Hang Seng Index added 0.27%, while Japan’s Nikkei 225 Index inched up 0.03%.

Trading volumes were expected to remain light, with no major U.S. data to be released throughout the day.


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