Investing.com - U.S. stock futures were steady on Thursday, as investors remained cautious ahead of European Central Bank and Bank of England policy meetings later in the day, as well as the release of key U.S. economic data.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.02% loss, S&P 500 futures signaled a 0.03% decline, while the Nasdaq 100 futures indicated a 0.03% gain.
The ECB was widely expected to announce an interest rate cut to 0.75% from the current record low 1.00% to help bolster growth in the region, following a recent string of weak economic data.
Investors were also looking ahead to the BoE’s policy meeting later Thursday, amid growing expectations for a fresh round of stimulus measures to shield the recession hit U.K. economy from the ongoing debt crisis in the euro zone.
Meanwhile, markets were eyeing Friday’s U.S. nonfarm payrolls report, amid speculation that the Federal Reserve could implement a third round of quantitative easing to shore up the economy, which has been hit by the ongoing crisis in the euro zone.
Tech stocks were expected to remain active after Taiwanese smartphone maker HTC won a London court ruling on Wednesday against Apple over a series of patent infringement claims linked to technology used in its mobile devices. Shares in Apple fell 0.23% in pre-market trade.
The auto sector was also likely to be in focus on Thursday, as U.S. auto parts supplier Visteon said it would offer USD800 million to take full control of South Korean car air conditioner maker Halla Climate Control. Analysts cautioned however that a key shareholder may hold out for more.
Meanwhile, frustrated with years of slipping market share in Brazil, General Motors said it is overhauling half of its lineup in order to grow faster than its rapidly multiplying rivals, according to a Reuters report.
Elsewhere in company news, U.S. buyout fund Carlyle Group said that it has acquired 49% of China's Mandarin Hotel Holdings for an undisclosed sum, giving it control of the company.
In the financial sector, Barclays tumbled 1.61% in early trading after Moody's Investors Service changed the outlook on the bank to negative from stable, citing the uncertain management outlook after recent departures in the light of the Libor scandal.
While testifying before U.K. lawmakers on Wednesday, Robert Diamond, who quit this week as chief executive officer of Barclays, blamed other banks for misleading markets about their ability to borrow, adding that he was “disappointed” regulators failed to act on repeated warnings from Barclays.
Other stocks in focus included oil and gas major Exxon Mobil, which is reportedly weighing a sale of its German Esso gas station chain, a unit that could represent over EUR1 billion.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 edged up 0.09%, France’s CAC 40 eased 0.03%, Germany's DAX climbed 0.57%, while Britain's FTSE 100 added 0.25%.
During the Asian trading session, Hong Kong's Hang Seng Index eased up 0.3%, while Japan’s Nikkei 225 Index shed 0.3%.
Also Thursday, Spain sold EUR2.997 billion of government bonds, in line with the full targeted amount of EUR3 billion, but at higher yields from last month.
The yield on Spanish 10-year bonds rose to 6.53% following the auction, re-approaching the critical 7%-level deemed as unsustainable in the long-term.
Later in the day, the U.S. was to publish a report by payroll processing firm ADP on non-farm employment change, followed by government data on unemployment claims. The Institute of Supply Management was also to release a report on U.S. service sector activity.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.02% loss, S&P 500 futures signaled a 0.03% decline, while the Nasdaq 100 futures indicated a 0.03% gain.
The ECB was widely expected to announce an interest rate cut to 0.75% from the current record low 1.00% to help bolster growth in the region, following a recent string of weak economic data.
Investors were also looking ahead to the BoE’s policy meeting later Thursday, amid growing expectations for a fresh round of stimulus measures to shield the recession hit U.K. economy from the ongoing debt crisis in the euro zone.
Meanwhile, markets were eyeing Friday’s U.S. nonfarm payrolls report, amid speculation that the Federal Reserve could implement a third round of quantitative easing to shore up the economy, which has been hit by the ongoing crisis in the euro zone.
Tech stocks were expected to remain active after Taiwanese smartphone maker HTC won a London court ruling on Wednesday against Apple over a series of patent infringement claims linked to technology used in its mobile devices. Shares in Apple fell 0.23% in pre-market trade.
The auto sector was also likely to be in focus on Thursday, as U.S. auto parts supplier Visteon said it would offer USD800 million to take full control of South Korean car air conditioner maker Halla Climate Control. Analysts cautioned however that a key shareholder may hold out for more.
Meanwhile, frustrated with years of slipping market share in Brazil, General Motors said it is overhauling half of its lineup in order to grow faster than its rapidly multiplying rivals, according to a Reuters report.
Elsewhere in company news, U.S. buyout fund Carlyle Group said that it has acquired 49% of China's Mandarin Hotel Holdings for an undisclosed sum, giving it control of the company.
In the financial sector, Barclays tumbled 1.61% in early trading after Moody's Investors Service changed the outlook on the bank to negative from stable, citing the uncertain management outlook after recent departures in the light of the Libor scandal.
While testifying before U.K. lawmakers on Wednesday, Robert Diamond, who quit this week as chief executive officer of Barclays, blamed other banks for misleading markets about their ability to borrow, adding that he was “disappointed” regulators failed to act on repeated warnings from Barclays.
Other stocks in focus included oil and gas major Exxon Mobil, which is reportedly weighing a sale of its German Esso gas station chain, a unit that could represent over EUR1 billion.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 edged up 0.09%, France’s CAC 40 eased 0.03%, Germany's DAX climbed 0.57%, while Britain's FTSE 100 added 0.25%.
During the Asian trading session, Hong Kong's Hang Seng Index eased up 0.3%, while Japan’s Nikkei 225 Index shed 0.3%.
Also Thursday, Spain sold EUR2.997 billion of government bonds, in line with the full targeted amount of EUR3 billion, but at higher yields from last month.
The yield on Spanish 10-year bonds rose to 6.53% following the auction, re-approaching the critical 7%-level deemed as unsustainable in the long-term.
Later in the day, the U.S. was to publish a report by payroll processing firm ADP on non-farm employment change, followed by government data on unemployment claims. The Institute of Supply Management was also to release a report on U.S. service sector activity.