NEW YORK (TheStreet) -- U.S. stock index futures were weaker in premarket trading following data that pointed to a firmer U.S. labor market while durable goods orders plunged, as expected.
U.S. weekly initial jobless claims came in at 293,000 compared to the 300,000 analysts estimated. Durable goods orders for August tanked 18.2% but that was in line with the 18% decline expected by economists. Durable goods orders rose 22.5% in July, led mostly be new contracts for Boeing (BA) jets.
A stronger dollar was weighing on equity futures while dampening the appeal of gold. The euro on Thursday dropped to a 14-month low against the U.S. dollar on dovish remarks from European Central Bank President Mario Draghi. The euro was trading at $1.27181 early Thursday.
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Dow Jones Industrial Average
Building on a strong showing in U.S. new home sales for August, U.S. stocks rallied on Wednesday to reverse three days of declines. Chicago Federal Reserve President Charles Evans on Wednesday maintained his dovish views, also bringing cheer to the markets.
"After last week's long list of events the last trading days of the quarter are likely to dampen investors' enthusiasm for stocks," cautioned Peter Cardillo, chief market economist at New York-based Rockwell Global Capital. "We see the indices shifting gears towards traditional seasonal weakness in the intermediate term as the market awaits the advent of the third-quarter earnings reports."
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