As positive US emploment data comes in, stocks are set to tick
down from yesterday's all-time highs.
Jobless claims unexpectedly fell again last week. A total of
323,000 people filed for unemployment last week, down 4,000 from
the previous week's upwardly revised number. Economists expected to
see claims rise to 335,000.
Before the opening bell,
(INDEXDJX:.DJI) futures were down 0.07% at 15,051 after closing at
another record high on Wednesday. The
(INDEXSP:.INX) also hit a record close last night and this morning,
futures slipped 0.11% to 1,626.90.
(INDEXNASDAQ:.IXIC) futures fell 0.19% to 2,956.25.
China reported that consumer prices rose 2.4% on a yearly basis in
April up from 2.1% in March. The price rise was driven by higher
food costs. Higher Chinese inflation could lead to less
accommodative policies from Beijing.
The Bank of England kept rates frozen at 0.5% today. Britain's
industrial output beat forecasts, rising 0.7% on a monthly basis in
Greece's unemployment came in better than expected, but still
horrible. Twenty-seven percent of Greeks were unemployed in
February and January's rate was revised down to 26.7% from 27.2%.
Portugal also released jobless figures, reporting 17.7%
unemployment in the first quarter, up from 16.9% in the last three
months of 2012.
South Korea became the latest country to cut interest rates as the
country tries to fight the effect of Japan's Abenomics in on its
exports. The bank cut rates 25 basis points to 2.5%.
) shares rose 11.5% after reporting stronger-than-expected
earnings. In its first earnings report since sacking Andrew Mason,
Groupon revenue rose 8% year-over-year. Excluding one-time items,
earnings came in at $0.03 per share.
) reported its first-ever quarterly profit yesterday. Earnings per
share rose to $0.12, three times analyst estimates. Revenue clocked
in at $562 million. Shares rose 21.7% after hours, much to the
dismay of the large short sellers holding the stock.
) unveiled a $99 full-featured smartphone for the Indian market
today. The phone will run the Asha software platform. India was
Nokia's second biggest market in 2012 after China, but the company
faces competition from low-priced
Finance ministers of the G7 countries meet on Friday and Saturday
in London to discuss banking regulation to prevent the next