NEW YORK (TheStreet) -- U.S. stock futures lost a bit of momentum Thursday after initial jobless claims data met expectations but durable good orders rose less than expected.
Futures for the
Dow Jones Industrial Average
were rising 38 points, or 28.9 points above fair value, at 12,504. Futures for the
were up 5.3 points, or 4 points above fair value, at 1321. Futures for the
were rising 10.3 points, or 4.8 points above fair value, at 2550.
U.S. stocks staged a mighty comeback in the final hour of trading Wednesday as a message from European leaders in support of Greece assuaged investor fears that the country is on a path to exit the eurozone.
Initial jobless claims for the week ended May 19 came in at 370,000, as expected by economists surveyed by Thomson Reuters. The Labor Department said the prior week's figure was upwardly revised to 372,000. The four-week moving average was 370,000, a decrease of 5,500. Continuing claims for the week ended May 12 was 3.26 million, down by 29,000.
The Department of Commerce reported that durable goods orders rose 0.2% in April, which was less than the 0.5% increase expected by economists. March's drop was revised to a 3.7% decline from a 3.9% fall.
on Wednesday reported second-quarter profit excluding items of 98 cents a share, beating expectations, and announced plans to lay off 27,000 people. Shares were jumping nearly 9% in premarket trading.
shares were rising 1.4% and extending the previous session's rebound after two-straight days of steep declines. The stock price remains well below its $38 initial public offering price as the company's IPO becomes the focus of two congressional inquiries and a growing number of lawsuits amid accusations that important information about its prospects were withheld before the debut.
London's FTSE was rising 1.2%, and the DAX in Germany was up 0.6%, even after a Markit's flash purchasing managers' index showed that private-sector output across the eurozone shrank in May at its most rapid pace since mid-2009.
During Wednesday's summit of European Union leaders, there was a lot of emphasis placed on the wish to see Greece stay in the eurozone, but the leaders remained steadfast on the country's ability to abide by the terms of the existing bailout agreement. Meanwhile, German Chancellor Angela Merkel and other countries with pristine credit ratings continued to reject proposals for jointly issued eurobonds.
The Hang Seng Index in Hong Kong settled down 0.6% and Japan's Nikkei average closed flat as the HSBC flash Purchasing Managers Index for China fell to 48.7 in May from 49.3 in April.
The benchmark 10-year Treasury was falling 4/32, raising the yield to 1.752% and the greenback was down 0.04%, according to the
, all signs of some easing in risk aversion.
Commodities were gaining, with the July crude oil contract up 99 cents at $90.89 a barrel and June gold futures rising $17.10 to $1,565.50 an ounce.
2012 Stock Predictions and Outlook
, the warehouse retailer, reported fiscal-third-quarter earnings Thursday of $386 million, or 88 cents a share, up from year-earlier profit of $324 million, or 73 cents. Including higher membership fees, total revenue rose 8% to $22.32 billion. Analysts were calling for earnings of 87 cents a share on revenue of $22.21 billion. Shares of Costco rose 1.36% in premarket trading Thursday.
lowered its 2012 earnings guidance to be between $3.70 a share and $3.80 a share from previous estimates of between $3.95 a share and $4.05 a share.
, the storage and data management technology company, forecast non-GAAP earnings of 34 cents to 39 cents a share in its fiscal first quarter, well below the current consensus view for a profit of 59 cents a share. Shares of NetApp plunged 18.38%.
-- Written by Andrea Tse in New York.
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