This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Hustle: Stock Futures Mixed After Upbeat Data; Walmart Declines

Stocks in this article: ^DJI ^GSPC ^IXIC WMT KSS JCP CSCO WMT KSS

NEW YORK (The Street) -- U.S. stock futures were trading mixed Thursday despite a deluge of stronger-than-expected economic data as retailers fell on disappointing earnings. Cisco (CSC) was surging after an upbeat earnings call.

  • Dow Jones Industrial Average futures were down 14 points, or 2.97 points below fair value, to 16,573. S&P 500 futures were off 1.5 points, or 1.38 points below fair value, to 1,883.75. Nasdaq futures were up 0.2 points, or 5.45 points above fair value, to 3,596.5.
  • U.S. weekly initial jobless claims fell 24,000 in the week of May 10 to 297,000, below the average economist estimate of 320,000. This is the lowest level for initial claims since May 12, 2007. The April consumer price index rose 0.3% as expected. The Empire State Manufacturing Survey's general business conditions index jumped eighteen points to 19 for May, its highest level in nearly four years.
  • The economic calendar Thursday also includes April industrial production and capacity utilization figures at 9:15 a.m. EDT Data after the market open will include the Philadelphia Fed's Business Outlook report for May at 10 a.m. and the May National Association of Home Builders Housing Market Index at 10 a.m.
  • In the evening, Federal Reserve Chair Janet Yellen is expected to a give a speech to a Small Business Administration event in Washington. New York Fed Bank President William Dudley is scheduled for a public appearance Thursday morning.
  • Walmart (WMT) was declining 2.73% after missing first-quarter earnings expectations by 5 cents at $1.10 a share along with posting disappointing revenue. The company gave a lower-than-expected second-quarter outlook. Kohl's (KS) was down 3.39% after earnings came in shy of consensus estimates. Same-store sales declined by 3.4%. J.C. Penney (JCP) is forecast to report a first-quarter loss of $1.25 a share on sales of $2.71 billion. Cisco was jumping more than 7.5% in premarket trading after reporting fiscal third-quarter earnings that topped analysts' forecasts and the networker said it's eyeing a return to growth.
  • The FTSE 100 and DAX in Germany were both trading sideways after data showed that eurozone growth came in at a much smaller-than-expected 0.2% for the first quarter.
  • U.S. stocks fell Wednesday after markets posted two days of record highs.
  • Despite recent highs for the markets, traders have noted a lack of breadth in upswings, with few individual stocks hitting new highs.
  • "If the S&P 500 fails to extend strongly above 1,900, the bulls may see this as an indication that there is a lack of buyers, which would leave the market vulnerable to a break below 1876-1885, and potentially reignite talk of a significant correction," notes Sam Stovall, managing director at S&P Capital IQ.

-- By Andrea Tse in New York

>>Read More:

Cisco Surges on Earnings Beat, Eyes Growth

Sozzi: 3 Amazing Walmart Stats to Not Forget this Spring Focus on Data to Boost a Momentum Strategy

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.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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