Investing.com – U.S. stock futures pointed to a lower open on Thursday, following the release of weaker-than-expected data on first time jobless claims, while shares in Apple came under pressure after co-founder Steve Jobs resigned.
Ahead of the open, the Dow Jones Industrial Average futures pointed to loss of 0.15%, the S&P 500 futures indicated a drop of 0.2%, while the Nasdaq 100 futures showed a 0.55% decline.
Stock futures added to losses after official data showed that first time jobless claims rose by 9,000 to 408,000 last week, worse than expectations for an increase to 400,000
Shares in technology bellwether Apple were in focus after chief executive Steve Jobs announced his resignation after markets closed on Wednesday. Apple's board named Tim Cook, previously the company’s chief operating officer, as its new CEO.
Apple shares were down 2.2% in pre-market trade, pulling back from a loss of as much as 7% after JP Morgan reiterated its ‘overweight’ rating on the stock, saying, “The Jobs news is expected to create an attractive entry point.”
Elsewhere in the tech sector, semiconductor manufacturer Applied Materials saw shares drop 5.1% after lowering its earnings outlook for the fourth quarter, citing weakening demand for consumer electronics and personal computers.
Shares in precious metal producers were broadly, as gold prices extended their recent decline on the New York Mercantile Exchange. Newmont Mining shares were down 2.5%, while Barrick Gold slumped 2%.
On the upside, retail conglomerate Collective Brands saw shares rally 30.5% after announcing plans to close down over 475 stores deemed “underperforming and low-volume” over the next three years.
Across the Atlantic, European stock markets were up, as upbeat results from French lender Credit Agricole lifted shares in the financial sector. The EURO STOXX 50 jumped 0.6%, France’s CAC 40 gained 0.65%, Germany's DAX rose 0.3%, while Britain's FTSE 100 edged 0.1% higher.
During the Asian trading session, Hong Kong’s Hang Seng Index surged 1.47%, while Japan’s Nikkei 225 Index rallied 1.54%, as easing concerns over the U.S. economic outlook and strong earnings reports boosted sentiment.
Markets continued to look ahead to Friday’s speech by Federal Reserve Chairman Ben Bernanke at the central bank’s annual conference in Jackson Hole, Wyoming for any hints regarding fresh stimulus measures.
Ahead of the open, the Dow Jones Industrial Average futures pointed to loss of 0.15%, the S&P 500 futures indicated a drop of 0.2%, while the Nasdaq 100 futures showed a 0.55% decline.
Stock futures added to losses after official data showed that first time jobless claims rose by 9,000 to 408,000 last week, worse than expectations for an increase to 400,000
Shares in technology bellwether Apple were in focus after chief executive Steve Jobs announced his resignation after markets closed on Wednesday. Apple's board named Tim Cook, previously the company’s chief operating officer, as its new CEO.
Apple shares were down 2.2% in pre-market trade, pulling back from a loss of as much as 7% after JP Morgan reiterated its ‘overweight’ rating on the stock, saying, “The Jobs news is expected to create an attractive entry point.”
Elsewhere in the tech sector, semiconductor manufacturer Applied Materials saw shares drop 5.1% after lowering its earnings outlook for the fourth quarter, citing weakening demand for consumer electronics and personal computers.
Shares in precious metal producers were broadly, as gold prices extended their recent decline on the New York Mercantile Exchange. Newmont Mining shares were down 2.5%, while Barrick Gold slumped 2%.
On the upside, retail conglomerate Collective Brands saw shares rally 30.5% after announcing plans to close down over 475 stores deemed “underperforming and low-volume” over the next three years.
Across the Atlantic, European stock markets were up, as upbeat results from French lender Credit Agricole lifted shares in the financial sector. The EURO STOXX 50 jumped 0.6%, France’s CAC 40 gained 0.65%, Germany's DAX rose 0.3%, while Britain's FTSE 100 edged 0.1% higher.
During the Asian trading session, Hong Kong’s Hang Seng Index surged 1.47%, while Japan’s Nikkei 225 Index rallied 1.54%, as easing concerns over the U.S. economic outlook and strong earnings reports boosted sentiment.
Markets continued to look ahead to Friday’s speech by Federal Reserve Chairman Ben Bernanke at the central bank’s annual conference in Jackson Hole, Wyoming for any hints regarding fresh stimulus measures.