Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- U.S. stock futures were slightly higher Thursday as investors waited to see if European Central Bank President Mario Draghi would come though with his pledge last week to do whatever it takes to save the euro.
Draghi is scheduled to hold a press conference Thursday following a rates announcement from the ECB.
European stocks were flat while Asian shares ended Thursday's trading session mixed. Japan's Nikkei 225 stock average finished up 0.4% at 8,653.18.
The economic calendar in the U.S. Thursday includes weekly jobless claims at 8:30 a.m. EDT; July's ISM New York survey at 9:45 a.m.; and June factory orders and June revised durable goods order numbers at 10 a.m.
U.S. stocks on Wednesday fell after a so-called flash crash disrupted trading and the Federal Reserve failed to outline a plan to stimulate the economy, disappointing investors. The Dow Jones Industrial Average finished down 32.55 points, or 0.3%, at 12,976.
The source of Wednesday's trading problem in about 150 stocks was traced to Knight Capital Group (KCG), which said its market-making unit had suffered a software glitch that was interfering with its system's interaction with the New York Stock Exchange. Knight Capital said it was investigating the "technology issue." Knight's losses from trades gone awry could be more than $80 million, The Wall Street Journal reported, citing people briefed on Knight's estimated losses. Knight Capital shares fell 33% on Wednesday to close at $6.93.
General Motors (GM) is expected by analysts Thursday to post second-quarter earnings of 78 cents a share on revenue of $38.28 billion. The automaker said Wednesday that U.S. sales in July declined 6% as fleet sales fell 15% and retail sales fell 3%. Fleet sales account for about a quarter of GM's business.
Earnings also are expected Thursday from Kraft Foods (KFT), Kellogg (K), Beam (BEAM), Cardinal Health (CAH), Activision Blizzard (ATVI) and DirecTV (DTV).
Bristol-Myers Squibb (BMY) suspended a mid-stage study of its experimental hepatitis C drug BMS-094 due to a serious safety issue.
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