Stock futures are heading up this morning after disappointing
data about the US job market and economy came out.
Initial claims for unemployment insurance rose by 10,000 last week
to 354,000. Economists expected claims to hover at 340,000. A
second reading of US gross domestic product came in at 2.4%, a
tenth of a point below the initial estimate.
This economic news was worse than expected, and might ease fears
that the Federal Reserve will act on its plans to taper off its
quantitative easing program as early this summer.
Following yesterday's losses,
(INDEXDJX:.DJI) futures are up 0.27% at 15,331 before the opening
(INDEXSP:.INX) futures gained 0.33% to 1,652.40 and
(INDEXNASDAQ:.IXIC) futures gained 0.25% to 3,003.00.
Japan gave investors a jolt overnight as the
(INDEXNIKKEI:NI.225) fell 5.2%. The index might rally on Friday
reported that Japan's massive public pension fund, which is heavily
weighted with government bonds, might move into stocks.
European stocks are higher today. A report released today showed
that businesses' and individuals' economic sentiment rose in May.
The index rose to 89.4 this month from 88.6 in April. Consumer
confidence rose from -21.9 to -22.3 in April. Greece in particular
showed a marked increase in confidence.
Brazil's central bank went against the global trend and tightened
monetary policy. It raised benchmark rates to 8% from 7.5%.
) raised its offer for
) to $4.40 per share in cash, a 26% premium to yesterday's closing
price. Dish is in a bidding war with majority shareholder
), which previously offered $3.40 per share; shareholders were
unhappy with this. Dish is also going after Sprint itself, hoping
to wrest it from
(TYO:9984), its Japanese suitor. Shares of Clearwire are up over
20% in pre-market trading.
), the biggest outside investor in Steve Cohen's SAC Capital, is
planning to withdraw $400 million from the heavily scrutinized
hedge fund, according to the
Wall Street Journal
. The hedge fund manager is facing RICO charges for criminal
) is likely to sell a smartphone called Moto X this fall which will
be made in the United States. CEO Dennis Woodside revealed that the
phone was in the works in an interview at the All Things D
conference. This follows months of speculation about an "X Phone"
coming out of Google's bleeding-edge labs. The phone will be built
(FLEX) plant in Texas