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) -- U.S. stock futures pared gains Thursday after companies created fewer jobs in May and jobless claims unexpectedly rose.

Demand for safe haven assets continued to surge amid heightened eurozone uncertainty, with the yield on the 10-year treasury note still at record lows.

Futures for the

Dow Jones Industrial Average

were up by 31 points at 12,412.

S&P 500

futures were up by 3 points at 1,312. Futures for the


were rising by 4 points to 2,535.

Stocks fell sharply Wednesday as deepening fears about Spain's shaky financial condition spoiled risk appetite and drove investors into bonds, sending the yield on 10-year Treasuries to record lows.

Concerns about Europe continue to persist but the domestic economy was back in focus Thursday amid a raft of reports.

The data has been disappointing so far.

The ADP Employment Report said companies created 133,000 jobs in May, underwhelming expectations. Economists forecast the private sector to have added 148,000 jobs in May, according to

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. In April, companies created 119,000 jobs

Earlier Thursday, global outplacement firm Challenger, Gray and Christmas said employers announced plans to lay off 61,887 workers in May, an eight-month high and up 67% from a year earlier.

Meanwhile, the Labor Department said initial jobless claims for the week ended May 26 jumped to 383,000, higher than the 370,000 economists were expecting.

Bad news on jobs could further dampen investor sentiment and revive expectations that the

Federal Reserve

will do more to boost the economy.

The Bureau of Economic Analysis at the Department of Commerce said the economy expanded at a rate of 1.9% during the first quarter, down from the advance estimate of 2.2%. That was in line with expectations.

At 9:45 a.m. EDT, the Institute for Supply Management - Chicago will release its report on business conditions in the region. The consensus is for Chicago PMI to come in at 57 for May, up slightly from 56.2 in April;

Later at 10:30 a.m., the Department of Energy will release its weekly status reports on natural gas, followed by a report on oil inventories at 11 a.m.

With only one trading day in May left, the S&P 500 is on pace for its worst monthly slump since September. The index has declined 6% in May amid intensifying worries about the eurozone debt crisis. The Dow has had only five positive trading sessions over the month.

July oil futures were lower by 22 cents at $87.60 a barrel and August gold futures were losing 90 cents to $1,564.80 an ounce.

Meanwhile, the benchmark 10-year Treasury was rising by 6/32, lowering the yield to another record low of 1.604% and the greenback was off by 0.21%, according to the dollar index.

The euro was recovering by 0.4% at $1.2411 after slipping close to its two-year low on Wednesday.

European markets were stabilizing after an opinion poll showed Ireland will vote in favor of the fiscal stability pact designed to contain the European debt crisis.

Also aiding sentiment, inflation in the 17-nation area fell to 2.4% from 2.6%, the slowest pace since February 2011, while the German unemployment rate fell to 6.7% in April.

The FTSE in U.K. was gaining 0.8%, while the DAX in Europe was adding 0.4%.Asian markets sold off, tracking the risk-off trade in European and U.S. markets on Wednesday. Hong Kong's Hang Seng dropped 0.3%, while Japan's Nikkei declined 1%.

In corporate news,


(COST) - Get Costco Wholesale Corporation Report

said same-store sales in May rose 4%, short of the 4.3% analysts were expecting.


(TIVO) - Get TiVo Corp. Report

reported weak first-quarter results and second-quarter guidance. The digital video recording company posted a loss of 17 cents a share on revenue of $67.8 million. Analysts were expecting a loss of 15 cents a share on $54.89 million in service and technology revenue.

For its fiscal second-quarter, TiVo said it expects service and technology revenue to be between $53 million and $55 million and projects a net loss of $28 million to $30 million. Analysts expect revenue of $56.5 million and a loss of $27 million.


(CIEN) - Get Ciena Corporation Report

, the networking equipment company, reported Thursday second-quarter adjusted net income of $3.7 million, or 4 cents a share, a reversal from a year-earlier loss of $22.4 million, or 24 cents a share.

Ciena posted second-quarter revenue of $477.6 million.

On average, analysts expected the company to post a fiscal second-quarter loss of 3 cents a share on revenue of $447 million.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.