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
TheStreet Open House

Stock Futures Dip Following Data on Retail Sales, Jobless Claims

Stocks in this article: ^DJI^GSPC^IXICAMZNTWTRLULUINTCINFY

NEW YORK (TheStreet) -- U.S. stock futures were trading slightly lower Thursday after a modest showing for economic data and amid flaring geopolitical risks.

U.S. retail sales rose by a less-than-expected 0.3% in May, though April's large upward revision to 0.5% should help maintain expectations of an acceleration in the contribution from the consumer to second-quarter GDP growth.

Jobless claims rose slightly by 4,000 to 317,000 in the week ended June 7. The data aren't expected to hurt the outlook on the job market recovery. Import prices ticked up just 0.1% in May, keeping inflation concerns in check.

Business inventories for April will be released at 10 a.m. EDT.

Risk appetite Thursday could be impacted by escalating geopolitical uncertainty sparked by developments in Iraq, where al-Qaeda affiliates are reportedly taking over key northern cities and are on their way to Baghdad.

S&P 500 futures were down 0.75 points, or 0.26 points above fair value, to 1,943.25, Dow Jones Industrial Average futures were lower by 3 points, or 16.12 points above fair value, to 16,852, and Nasdaq futures were down 1.5 points, or 1 point below fair value, to 3,796.8. The S&P 500 suffered its biggest daily decline in three weeks on Wednesday after the World Bank slashed its global economic outlook.

Potential stock movers for Thursday include Amazon.com (AMZN), Twitter (TWTR), Lululemon Athletica (LULU), Intel (INTC), and Infosys (INFY).Infosys, the Indian outsourcing giant, appointed a new chief executive to help revive the company's flagging fortunes. Chipmaker Intel on Thursday lost its challenge against a record 1.06 billion euros ($1.44 billion) European Union fine handed down five years ago, as Europe's second highest court said regulators didn't act too harshly, Reuters reported. Lululemon Athletica posted adjusted fiscal first-quarter earnings of 34 cents a share, topping Wall Street estimates by 2 cents.

Twitter is undergoing a major reevaluation of its top management, including a possible shift in the duties of Chief Operating Officer Ali Rowghani, according to a report from Re/code. Amazon.com launched a new streaming music service on Thursday that is part of its $99 Prime subscription service.

European markets rose Thursday, after a report on industrial production in the 18-country eurozone boosted confidence in the economic recovery and as investors awaited the latest on U.S. retail sales and jobless claims. Asian stocks fell.

-- By Andrea Tse in New York

June 12 Premarket Briefing: 10 Things You Should Know

Blame the World Bank for U.S. Markets' Day in the Red

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!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

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