This Day On The Street
Continue to site
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

Stock Futures Slip as Jobless Claims Rise; Wal-Mart Gains

NEW YORK ( TheStreet) -- U.S. stock futures were pointing to a lower open on Thursday after initial jobless claims came in higher than expected and after Wednesday's dip resulting from the Federal Reserve's January meeting minutes carried over into the next trading day.

Futures for the Dow Jones Industrial Average were dropping 16 points, or 0.12%, at 13,873. Futures for the S&P 500 were shedding 2 points, or 0.15%, to 1505. Nasdaq futures were falling 8 points, or 0.3% with a fair value of 2729.

The Bureau of Labor Statistics reported on Thursday that the consumer price index for January remained unchanged from the prior month's flat reading. Economists polled by Thomson Reuters were expecting inflation to rise 0.1%.

The Labor Department said on Thursday that initial jobless claims for the week ended Feb. 16 rose 20,000 to a seasonally adjusted 362,000, up from a prior-week revised 342,000 claims. Ecomists expected claims to rise 355,000. The four-week moving average rose to 360,750 from the previous average of 352,750.

The National Association of Realtors is expected to announce existing home sales at 10 a.m. EST on Thursday, with consensus predicting an annual rate of 4.9 million in January. December's annual rate hit 4.94 million.

The Philadelphia Fed was also expected on Thursday to release its business outlook survey for January. The survey shows general business conditions and was looking for a reading of about 1.1. January's reading came in a negative 5.8, which suggests a contraction.

Minutes from the Fed's policy-making wing on Wednesday suggested that central bankers were becoming more open to the idea of backing away from the massive $85 billion a month in open-ended Treasuries and mortgage-backed securities purchases that the Fed has been making.

Stocks dropped on Wednesday as the prospect of less monetary easing raised questions as to what a Fed exit of continued monetary stimulus may mean for equity markets.

The Fed's less-than-thrilling announcement was battering global stock markets. The FTSE 100 in London was sliding 1.59% on Wednesday, and the DAX in Frankfurt was dropping 1.69%.

Asian markets closed with deep losses on Thursday as Japan's Nikkei average fell 1.39% overnight to finish at 11309. Hong Kong's Hang Seng tumbled 1.72% to 22,907.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $110.00 -0.70%
BA $139.04 1.47%
HPQ $29.18 4.18%
WMT $66.88 0.78%
FB $93.06 0.71%


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs