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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Stock Futures Gain as Jobless Claims Top Expectations

NEW YORK (TheStreet) -- U.S. stock futures were moving higher Thursday as initial jobless claims beat expectations.

Futures for the S&P 500 were gaining 5.5 points, or 0.33%, to 1,693.75.

Futures for the Dow Jones Industrial Average were rising 51 points, or 0.33%, to 15,493. Nasdaq futures were up 12 points, or 0.39% to 3,128.25.

The Labor Department said Thursday that initial jobless claims for the week ended Aug. 3 rose to 333,000, up 5,000 from the prior week's revised print but below what economists polled by Thomson Reuters anticipated. The four-week moving average dipped to 335,500, which was near its lowest level since the recession began in late 2007.

Stocks slipped on Wednesday as continued speculation that the Federal Reserve could start drawing back on purchases of mortgage-backed securities and longer-term Treasuries. Quantitative easing has been cited by analysts and economists as one of the major factors for the S&P 500's more-than 150% rise since hitting a bottom in March of 2009 due to the financial crisis.

In company news, shares of Tesla Motors (TSLA) were surging 15% to $154.38 in premarket action after the electric car maker posted second-quarter earnings that exceeded analysts' expectations. The company reported earnings of 5 cents a share on revenue of $405 million, while analysts were looking for a loss of 17 cents on revenue of $383.4 million.

Shares of Groupon (GRPN) were soaring 24.4% to $10.85 after the board named Eric Leftofsky as its chief executive and after the company reported earnings of 2 cents a share on revenue of $608.7 million, which slightly beat expectations. Groupon cited strong mobile purchases among North American users in the quarter.

European markets were gaining on Thursday. The FTSE 100 in London was increasing 0.33%, and the DAX in Frankfurt was adding 0.83%.

Asian markets closed mixed overnight. Japan's Nikkei average closed lower by 1.59% at 13,606, despite the Bank of Japan's decision to leave its key interest rate unchanged and to continue the pace of its bond-buying program. Hong Kong's Hang Seng climbed 0.31% to 21,656.

Stock quotes in this article: ^DJI, ^GSPC, ^IXIC, TSLA, GRPN 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs