This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Premarket futures were forecasting a higher open for stocks in the U.S. Thursday, as traders rifled through a heap of quarterly earnings statements.
Futures for the
S&P 500 were up 25 points at 952 and were 23 above fair value.
Nasdaq futures were better by 33 points at 1327 and were 22 ahead of fair value.
On Wednesday, stocks sold off into the close after a day of choppy trading, as investors mulled the
Federal Reserve's decision to cut its key interest rate 50 basis points to 1%.
Additional intervention to bolster the economy looked to be in the works, as
Bloomberg reported that the
Treasury Department and the
Federal Deposit Insurance Corp. may devote $500 billion to help avert home foreclosures.
A smattering of corporate earnings were once again occupying traders' attention. Following Wednesday's close, insurance company
MetLife(MET - Get Report) announced a decline in profit. Fellow insurer
Prudential(PRU - Get Report) swung to a loss.
CME Group(CME - Get Report) said profit declined year over year.
Murphy Oil(MUR), on the other hand, reported a substantial increase in third-quarter earnings, but lowered guidance for the fourth quarter.
Ahead of Thursday's trading, telecommunications equipment maker
Alcatel-Lucent(ALU) said its income was in line with guidance and affirmed its full-year outlook.
Traders also expect to hear from oil and gas companies
Apache(APA - Get Report),
ExxonMobil(XOM - Get Report) and
Marathon Oil(MRO - Get Report).
Motorola(MOT), pharmaceutical company
AstraZeneca(AZN) and consumer products maker
Colgate-Palmolive(CL - Get Report) are also expected to issue earnings reports.
On the merger front,
Delta Air Lines(DAL - Get Report) completed its acquisition of