Futures tread water as data floods in


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U.S. stock futures are little-changed after yesterday's big rally as investors await tomorrow's key payroll report.

The sideways move follows similar trading in Europe and a strong overnight session in Asia. European indexes are flat to slightly down, while Chinese shares rose about 2 percent and Japan's Nikkei rallied almost 1 percent.

Sentiment is mostly characterized by waiting, as investors prepare for initial jobless claims at 8:30 a.m. ET, plus a busy morning of earnings releases and January same-store sales data from retailers. Tomorrow morning the Labor Department will publish monthly payroll numbers, a report with the potential to move the market strongly.

Challenger, Gray & Christmas also announced that the private sector planned to cut 53,486 jobs last month, up 28 percent from December's figure.

Sentiment in currencies and commodities are slightly skewed toward risk aversion, with the euro, British pound, Canadian dollar, and Australian dollar all down against the greenback. The Japanese yen is also stronger.

Gold and silver are off slightly, while copper has declined 1 percent. Agricultural commodities are mostly down less than 1 percent.

In company-specific news, wireless-semiconductor maker Qualcomm reported better-than-expected earnings and revenue. It also raised its guidance amid strong demand for Apple's iPhone, sending QCOM up more than 5 percent in extended trading.

Green Mountain Coffee Roasters is surging by 22 percent after reporting first-quarter profit of $0.60 a share, well above the $0.36 consensus forecast. That's a big relief for a company that had lost more than half its value since September.

Fiber-optic company JDS Uniphase is climbing 4 percent after reporting earnings and revenue both ahead of analyst forecasts. Dow Chemical, however, is down about 3 percent after missing the Street.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.

This article appears in: Investing , Options

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