This Day On The Street
Continue to site
ADVERTISEMENT
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

Market Hustle: Futures Remain Firm After Jobless Claims Report

NEW YORK (TheStreet) -- U.S. stock futures were pointing to a firmer open Thursday as jobless claims came in lower than expected and central banks in Europe kept their benchmark interest rates at historic lows.

  • Futures for the S&P 500 were rising 6.25 points, or 4.01 points above fair value, to 1,750.25. Futures for the Dow Jones Industrial Average were higher by 58 points, or 49.77 points above fair value, to 15,425. Nasdaq futures were up 16.5 points, or 13.6 points above fair value, to 3,462.

  • Initial jobless claims for the week ended Feb. 1 fell to 331,000, which was lower than estimates of 335,000. The December U.S. international trade deficit, meanwhile, widened to $38.7 billion vs. estimates of $36 billion.
  • Friday's January nonfarm payrolls report is expected to show an increase to 185,000 jobs added after December's scant 74,000. "The ADP employment report (Wednesday) ... failed to meet expectations in January and January's manufacturing activity as reflected in Monday's ISM manufacturing index was weak," Say Hwa, head of investment at Singapore-based Phillip Futures, said in a note. "There exists now a higher possibility that nonfarm payrolls will fail to meet expectations this Friday."

  • Federal Reserve Governor Daniel Tarullo is scheduled to testify on Dodd-Frank before the Senate Banking Committee in Washington at 10 a.m. EST

  • The European Central Bank on Thursday kept its benchmark interest rate at a historical low of 0.25%. 

  • The Bank of England kept interest rates at a record low of 0.5%.

  • The FTSE in London was climbing 0.6% and the DAX in Germany was up 0.52%. The Hong Kong Hang Seng finished up 0.72% and the Nikkei 225 in Japan closed down 0.18%.

  • Yelp (YELP - Get Report) was surging more than 7.5% to $81.05 in premarket trading after its fourth-quarter report showed better-than-expected sales and upbeat usership growth.

  • General Motors (GM - Get Report) was off 3.77% to $33.91 after posting fourth-quarter earnings per share of 67 cents, which came in far weaker than the Wall Street target of 88 cents amid disappointing sales. Dunkin Brands (DNKN - Get Report) was up 2.01% to $48.25 after quarterly EPS topped expectations by 3 cents at 43 cents.

-- Written by Andrea Tse in New York

Copyright 2014 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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
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.
Submit an article to us!
SYM TRADE IT LAST %CHG
DNKN $52.63 -1.60%
GM $35.50 -0.78%
YELP $51.77 1.50%
FB $81.43 -0.59%
GOOG $554.99 -0.07%

Markets

DOW 18,090.18 +52.21 0.29%
S&P 500 2,110.93 +2.01 0.10%
NASDAQ 5,058.6310 -1.6150 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs