Weekly jobless claims are the main economic event today, while
the corporate-earnings calendar remains active.
The Labor Department is expected to report that 355,000 Americans
filed for initial unemployment benefits last week, up from 346,000
the previous week. Lower readings would be considered bullish
because it would mean that fewer people lost their jobs. The
release is scheduled for 8:30 a.m. ET.
The pre-market session will also feature reports from investment
bank Morgan Stanley, soft-drink maker PepsiCo, telecom Verizon
Communications, and HMO giant United Health Care.
The Philadelphia Federal Reserve will announce its regional
economic index at 10 a.m. ET. Economists forecast a reading of 2.5,
up from 2 in March. Natural-gas inventories follow at 10:30 a.m.
ET, which could affect energy stocks.
There is also a busy roster of corporate results after the closing
bell, with companies including Microsoft, Google, IBM, and Capital
One scheduled to announce.
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